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