Home
News
- 1 The price of Bitcoin Cash rose by 4.66% in the past week and by 7.39% in the past 24 hours.
- 2 The price of the BCH is trading at $230.09 and the 52-week range is $91 – $327.
The Bitcoin Cash crypto surged by 7.97% in market value and by 55.51% in trading volume in the last 24 hours, per Coinmarketcap which is a crypto data and info website. Its market value is $4,497,289,034 and its trading volume is $249,800,432. There are 19,515,881 BCH in circulation. Moreover, Bitcoin Cash (BITSTAMP: BCH) has shown positive performance this month, as it rose by 16.39% and by 89.67% in the past six months, showing good performance. Also, the year-to-date return of BCH price is positive with a 136.09% incline.
According to Whale Wallet Balances on the Sentiment website source, as Bitcoin Cash long-term holders increase their positions, Whale investors seem to gain confidence. The data shows that crypto whales with balances of 100,000 to 10 million BCH had a total of 3.74 Million BCH on September 18. But the chart below shows that on September 26, that number has risen to 3.86 Million BCH.
This means that the Bitcoin Cash whales have bought 120,000 BCH more, bringing their balances to levels last seen in July 2023. The 120,000 BCH that the Bitcoin Cash whales have recently acquired are worth about $25.6 Million at the current price of $213.
Historical trends show that because of their large holdings, the whale cluster’s buying activity has often had a significant impact on BCH prices. Therefore, if the long-term holders keep Holding, BCH price holders could see more gains in the next weeks.
Technical Analysis of BCH on 1-D Timeframe
The BCH crypto price has been on a declining trend for the last three months, dropping by 41% in this period. It went from $309 to $183 by making lower highs and lows.
At the time of writing, the BCH crypto price was trading at $229.80 and took support from the demand zone. If the BCH crypto price holds the current level and rises, then it may reach the nearest resistance levels of $249.79 and $273.14.
If BCH fails to hold the current level, the BCH crypto price could keep moving downwards and hit the nearest support at $186.25 and $168.09.
At the time of publishing, the BCH crypto price is trading above the 20 and 50-day EMAs (exponential moving averages), which are supporting the trend.
The MACD line at 3.63 and the signal line at 1.98 are above the zero line and both lines cross each other and a bullish cross in the MACD oscillator. The current value of the RSI is 64.84 points and the 14-day SMA is above the median line at 52 points. Collectively, the indicators’ view has a bullish view of Bitcoin cash for the upcoming sessions.
Conclusion
BCH crypto price prediction shows a positive outlook from investors and traders in the daily time frame. Bitcoin Cash price action reveals a bullish trend at the time of writing as it took support on major demand zone. Moreover, the daily chart shows that the price might keep going up as per technical indicators like RSI, EMA, and MACD.
Technical Levels
- Support levels: $186.25 and $168.09
- Resistance levels: $249.79 and $273.14
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
