The Bitcoin Cash price prediction reveals that BCH may likely form higher as the coin trades around the 9-day and 21-day moving averages.
Bitcoin Cash Statistics Data:
- Bitcoin Cash price now – $115.7
- Bitcoin Cash market cap – $11.2 billion
- Bitcoin Cash circulating supply – 349.5 million
- Bitcoin Cash total supply – 511 billion
- Bitcoin Cash Coinmarketcap ranking – #9
Resistance levels: $130, $135, $140
Support levels: $105, $103, $101
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The Bitcoin Cash price is likely to face above the upper boundary of the channel as the coin touches the resistance level of $116.9. Since a few days ago, BCH/USD has been trading within the 9-day and 21-day moving averages and this refrains the coin from going back to the support level of $110.
Will Bitcoin Cash and Tamadoge Gain Higher?
The Bitcoin Cash price is ready to create move additional bullish movement as the coin continues to rise and could probably face above the upper boundary of the channel if the bulls hit the $125 resistance level. Therefore, any further bullish movement above this barrier may push the price to the potential resistance levels of $130, $135, and $140.
Nevertheless, this technical Prediction may be invalidated if the bears break below the moving averages and head toward the lower boundary of the channel, any further bearish movement may reach the support levels of $105, $100, and $115. Moreover, the technical indicator Relative Strength Index (14) is moving above the 40-level to give to keep the coin in the next positive direction.
Against Bitcoin, the Bitcoin Cash price is hovering below the 9-day and 21-day moving averages with a major support level of 550 SAT. However, the long-term moving averages may likely keep the bullish movement as the market is may start a new trend by crossing above the moving averages.
However, if the buyers push the price towards the upper boundary of the channel, higher resistance could be located at 680 SAT and above while the technical indicator Relative Strength Index (14) crosses below 50-level, indicating that sellers are likely to play out. Moreover, should the bulls fail to move the current market value above the aforementioned barrier, the bears may step back into the market, and the nearest support level could be located at 500 SAT and below.
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Image and article originally from insidebitcoins.com. Read the original article here.