Bitcoin Cash (BCH) price is in a bearish trend against the US Dollar and Bitcoin. If BCH/USD does not gain momentum above $1,800 and remain well below $2,000, there is a possibility of a fresh decline.
Bitcoin Cash price prediction: Price to cross over $400 before retracing.
- Bitcoin Cash is currently trading at $334.25.
- The short-term charts show bearish momentum, while the medium- and long-term charts remain bullish.
- Traders can expect price to break through the $400 mark before correcting.
Bitcoin Cash Price Forecast Daily price list
Bitcoin Cash opened at $349.70 with bullish momentum, but it quickly faded. Price action is consolidating, and bearish wave-like activity prevails on the short-term charts. The stock is currently trading at $338.40, down 3.18% from the day’s opening price.
Bitcoin Cash price in the last 24 hours
The price of Bitcoin Cash started the day with strong bullish momentum as buyers lifted the price above $360. However, the price was unable to hold support at this level and was pushed back sharply. Price fell to $332 before finding solid support and rebounding. Buyers took over and broke through the $350 mark, after which the price fell.
Since then, the price has been in a bearish channel with key support at $330. If the price drops below the support level, the next support is at $325.
The RSI suggests that a further decline would cause the BCH to become oversold and the bulls could rebound. Meanwhile, the MACD is showing mixed signals as the two EMAs move towards each other.
BCH USD graphics November
The price of Bitcoin Cash began the month with bearish momentum that formed in the second half of October. The price consolidated for two months before falling below $240. However, the decline was short-lived as buyers found support at $230 and began a bullish rally. Buyers encountered resistance around the $274 level and failed to break through. The price then fell and consolidated further over the next ten days.
As can be seen on the chart above, price has consolidated between $240 and $280 with key support at $240. The support level was tested three times, but the price bounced back each time. The 19th. The November support levels were last tested as buyers took over the market momentum. The bulls brought the price above $360 but failed to close above that level.
As for the technical indicators, the RSI is showing an overbought condition, suggesting a price correction. On closer inspection, the RSI is back in a healthy range, indicating that the correction has already begun.
The next six hours will determine whether price action corrects or continues the bullish rally on the medium-term charts.
Bitcoin Cash Price Forecast Where is the price of BCH going?
The price of Bitcoin Cash began the year with strong upward momentum, rising from $203 in the first quarter of January to more than $450 by mid-February. During January and most of February, the bulls were in control. However, the price encountered strong resistance near the $500 mark and was unable to rise further.
After the rejection, the price fell sharply, to below $150 in mid-March. The price movement found support at this level and bounced back to the $250 level where it consolidated for the next four months. In late July, buyers attempted a breakout to the upside, but this failed and the price fell back to $220, where it remained until recently. Buyers are trying to start another bullish rally now that price has broken through the $300 mark and candles have reached the $350 mark.
As for the technical indicators, the RSI is currently trending towards overbought, but this does not mean that the market is overvalued. This means that the price can still rise before the indicator triggers a correction. Meanwhile, the MACD has just entered bullish territory and is giving mixed signals as the 12-EMA and 26-EMA are close together.
Bitcoin Cash recently underwent a hard fork, as a result of which the community removed the fee for miners from the blockchain code. With the price of bitcoin approaching an all-time high, BCH is likely to follow due to increased trading volume. We can expect the price of BCH to pass the $400 mark if the price of bitcoin continues its bullish activity.
Frequently Asked Questions
What will Bitcoin cash be worth in 2022?
In 2022, Bitcoin cash will be worth $1.00.
What will bitcoin be worth in 2023?
The price of bitcoin in 2023 is difficult to predict. If you had invested $100 in bitcoin at the start of 2017, then you would now be sitting on around $1,000.
Is Bitcoin cash a good investment 2020?
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