BCH/USD is making a decent rise in the last 24 hours, taking the coin above the $235 resistance level. The coin has already had three consecutive days of bullish moves. Meanwhile, BCH/USD is one of the most emerging coins in the market right now, and is likely to touch $250 in the coming days as its next resistance.
bitcoin Cash Price Prediction: Would bitcoin Cash Get 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 $270, $280, and $290.
On the contrary, if the Relative Strength Index (14) technical indicator fails to cross above the 70 level, there is a tendency for the bears to return to the market, and this may likely cause the market price to reach support levels. closest. at $185, $180 and $175 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 700 SAT or below. However, the nearest resistance level is now above the channel. Therefore, more resistance could be found from 1000 SAT. Meanwhile, the Relative Strength Index (14) is moving towards the overbought region, which is a promising sign for the bulls as momentum is on their side.
According to the daily chart, bitcoin Cash price may create more bullish trends once the coin crosses above the upper boundary of the channel, and this is noticed by the Relative Strength Index (14) technical indicator as the signal moves to cross towards the overbought region.
In that sense, bitcoin Minetrix is reshaping the crypto mining landscape, offering a reliable cloud mining platform that eliminates the need for expensive hardware and protects users from deceptive scams. Join us today and be part of this growing success story: our ongoing pre-sale has already exceeded $129K in investments.