Bitcoin Cash Price Predictions - February 9

As the Bitcoin Cash price prediction continues to recover from the $328 low, the price is still in the bullish trend.

BCH/USD Market

Key Levels:

Resistance levels: $440 - $460 - $480

Support levels: $240, $220, $200

The bulls have BCH/USD in their hands as the coin trades above its 9-day and 21 day moving averages. The bulls will need to build enough momentum to push BCH/USD above the upper limit of the channel due to lack of buying power. Relative Strength Index (14), a technical indicator, is moving above 60-level. The signal line points to the north for bullish signals.

Bitcoin Cash Price Prediction: Bitcoin cash may hold the current price

The Bitcoin Cash price is poised to move up after the recent dip of $330. The 9-day moving mean is now crossing above the 21 day moving average. The coin will rise if the bulls continue to pressurize the bears. If bulls continue to push the bears, BCH/USD could continue the bullish trend which could see the coin reach resistance levels at $440, $460 and $480.

However, any selling pressure could drag the price below moving averages if bears return to the market. Should BTC trade below $335.84 daily opening price, a bearish move could push the price down to $240, $220 and $200.

The Bitcoin Cash will likely cross the 21-day moving median as bulls increase their entry into the market. The Bitcoin Cash price is trading at 775 SAT, although it has not been able push the price higher as of this writing. It may meet resistance at 860 SAT if the Bitcoin Cash price signals a bullish rally.

The daily chart shows traders that the market could resume an uptrend if the Relative Strength Index (14) rises above 40-level. BCH will likely break the 21-day moving mean where it consolidates. However, if the coin drops below the channel's lower boundary, it may find support at 670 SAT or below.

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By: Azeez Mustapha
Title: Bitcoin Cash Price Prediction: BCH/USD Bulls Target $350 Resistance
Sourced From: insidebitcoins.com/news/bitcoin-cash-price-prediction-bch-usd-bulls-target-350-resistance
Published Date: Wed, 09 Feb 2022 19:18:54 +0000