Bitcoin Cash Price Prediction for Today, July 21 – BCH Technical Analysis

bitcoin Cash price prediction reveals that BCH continues to rise as the coin moves to cross above the upper boundary of the channel.

bitcoin Cash Prediction Statistics Data:

• Current bitcoin Cash Price: $396.21
• bitcoin Cash Market Cap: $7.8 Billion
• bitcoin Cash circulating supply: 19.73 million
• bitcoin Cash CoinMarketCap Rank: #16

Early participation is often recommended to maximize potential gains when evaluating cryptocurrency projects. For example, bitcoin Cash has shown significant price fluctuations: a 24-hour low of $386.34 and a high of $398.72. It reached an all-time high of $4,355.62 on December 20, 2017, reflecting a -90.87% decrease since then, and an all-time low of $75.08 on December 15, 2018, representing a +429.61% increase since that point, highlighting the benefits of early investment in the cryptocurrency market.

BCH/USD Market

Key levels:

Resistance Levels: $520, $530, $540

Support Levels: $260, $250, $240

According to the daily chart, bitcoin-cash/”>BCH/USD may create a further bullish move if buyers increase the buying pressureHowever, market activity is expected to be relatively subdued over the coming days, with no significant breakout likely this week. In the meantime, there may be small moves lower followed by modest recoveries, but substantial action is anticipated next week. The breakout, when it occurs, could send prices significantly higher from current levels, with projections indicating a potential target of around $575, representing a notable increase from the current price of $396.

bitcoin Cash Price Prediction: Will bitcoin Cash Go Up?

The measured technical movement of this pattern suggests overcoming the golden ratio and previous resistance levels. Therefore, a successful break above the channel could indicate the possibility of further upside extensions in the coming days, weeks, or months, potentially reaching these resistance levels of $520, $530, and $540. Meanwhile, bitcoin Cash’s historical data supports this analysis, showing significant bullish moves after deep extensions, with previous targets reaching the resistance level of $404. Therefore, any bearish move could reach the supports at $260, $250, and $240 respectively.

However, bitcoin Cash’s historical performance indicates a pattern of gradual accumulation followed by rapid ascents that break above critical resistance points. The market is currently at a low point, and while an immediate rapid ascent is possible, the market is more likely to gradually rise to resistance levels before a significant breakout occurs. Based on past movements, minimum targets of $450 are anticipated, with potential highs reaching $480 or even $500 at the end of the next major move.

BCH/btc continues the downtrend

Against bitcoin, the bitcoin Cash price is attempting to break above the 9-day and 21-day moving averages, with a major resistance level at 5966 SAT. However, if the price crosses the moving averages and heads north, the long-term moving averages can push the coin even higher, signaling the start of a new market trend.

However, if the buyers manage to push the market price higher, the next significant resistance could be found at 6800 SAT and above. Conversely, if the bulls fail to push the market value above the moving averages, the bears can take control, with the nearest support level around 5200 SAT and below.

Meanwhile, @altsznmstr suggested to his followers on x (formerly twitter) that $BCH is about to hit $665 after breaking the $400 level.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”5.0847457627119″>

twitter.com/search?q=%24BCH&src=ctag&ref_src=twsrc%5Etfw”>$BCH will reach $665 after breaking the 400 level. photo.twitter.com/to8Mzu8wDJ

— L1 or nothing (@altsznmstr) twitter.com/altsznmstr/status/1814361426615775371?ref_src=twsrc%5Etfw”>July 19, 2024

Alternatives to bitcoin Cash

bitcoin Cash is seeing bullish momentum, trading above the 9-day and 21-day moving averages, with the potential for a sustained upward move that could possibly retest the $400 resistance level. A bullish signal is expected when the 9-day moving average crosses above the 21-day moving average, reinforcing the positive market sentiment. In comparison, PlayDoge presents an attractive investment opportunity with a smaller market cap and strong investor confidence, having raised $5.8 million in its pre-sale. Positioned to capitalize on the anticipated rise of altcoins and the expanding GameFi market, PlayDoge is well poised for significant growth.

PLAYDOGE: THE TOP PROJECT THAT WILL MULTIPLY BY 100

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