Bitcoin Cash Price Prediction: BCH/USD Crosses above $295 Resistance Level, What Next?

insidebitcoins.com

Looking at the daily chart, BCH/USD price action is now following the upward movement but a retracement move may reach the closest support level at $270 before the rally begins. Looking at it positively, if BCH/USD stays above the 9-day and 21-day moving averages, the market price may likely break-through another resistance at $300 and $320 respectively.

When compares with BTC, the Bitcoin Cash is range-bound as the market may begin to move sideways while it remains under the 9-day and 21-day moving averages within the descending channel while the technical indicator RSI (14) moves above the 40-level. Meanwhile, a rebound could push the price above the moving averages, and crossing above the upper boundary of the channel may increase it to the resistance level of 0.0180 BTC and above.

Read in Full: insidebitcoins.com

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