BCH/USD is making a decent rise in the last 24 hours, taking the coin above the resistance level of $274. The coin shot above the upper boundary of the channel to hit the daily high of 287.80 Dollars. Meanwhile, BCH/USD is one of the most emerging coins in the market right now, and is likely to touch $300 in the coming days as its next resistance.
bitcoin Cash Price Prediction: Can BCH/USD Gain More Advantages?
bitcoin Cash price is trading above the 9-day and 21-day moving averages within the channel. On the positive side, if the price breaks the upper boundary of the channel and closes above it, BCH/USD is likely to continue its uptrend and reach the resistance levels of $310, $320, and $330.
On the contrary, if the 9-day moving average falls below the 21-day moving average, there is a tendency for the bears to return to the market, and this can likely cause the market price to reach the nearest support levels in $230. $220 and $210 respectively.
Against bitcoin, bitcoin Cash price has moved north above the 9-day and 21-day moving averages. The recent surge could allow the cryptocurrency to break above the upper boundary of the channel, which is a promising sign for buyers.
From below, if the bears break below the moving averages, critical support could be located at 500 SAT or below. However, the nearest resistance level is now above the channel. Therefore, more resistance could be found from 800 SAT. Meanwhile, the 9-day moving average is crossing above the 21-day moving average, which is a promising sign for the bulls as momentum is on their side.
bitcoin Cash price may create more bullish trends once the coin crosses above the upper boundary of the channel, and this is noticeable as the 9-day moving average crosses above the 21-day moving average to keep the coin in The positive side.
Meanwhile, bitcoin Cash (BCH) is ranked 17th in the cryptocurrency world with a market capitalization of $5.3 billion, but faces profit limitations due to its size. Meanwhile, traders are increasingly interested in bitcoin Minetrix (BTCMTX), a unique bitcoin alternative that has raked in nearly $6.9 million in its pre-sale, prompting investment considerations.
