Bitcoin Cash Price Predictions - December 28
The Bitcoin Cash prediction currently shows that BCH is falling towards moving averages, suggesting that the bears could take control of the market movement.
BCH/USD Market
Key Levels:
Resistance levels: $520 - $540 - $560
Support levels: $400, $380, $360
Daily Chart - BCHUSD
Buy Bitcoin Cash Now BCH/USD may slow down and settle around $440 support. Today's market price fell to $446 support, its lowest level daily. The current performance of Bitcoin Cash is not as good as expected. However, it is expected that the coin will recover from the downtrend soon.
Bitcoin Cash Price Prediction: Bitcoin cash may consolidate below $400
There is a possibility of a new bearish wave if the Bitcoin Cash price does not keep above the 21-day and 9-day moving averages. If the price drops below the moving averages however, it may find support towards the channel's lower boundary at $420, where the market could resume its bullish trend.
As the Relative Strength Index (14), a technical indicator, indicates a possible downtrend, any bearish crossing lower than 40-level could result in the critical support levels at $400, $380 and $360. A bullish move above the channel's upper boundary could see them reach $500 as a key resistance level. The coin could trigger a bullish rally that could see the market price rise to $520, $540 and $560 resistance levels, if this is possible.
Comparing Bitcoin with the daily chart, it is clear that sellers still show some commitment to market movement. The red-line on the 9-day moving mean is still lower than the green-line on the 21-day moving mean. The recent sideways movement suggests that the trend could be reversible if the bears pull the coin below its lower boundary.
BCHBTC – Daily Chart
The technical indicator Relative strength index (14) is above 40-level. Therefore, if buyers fail to push the coin past 920 SAT resistance, market price could focus on the downtrend. Crossing below the channel's lower boundary may lead to a drop to 850 SAT or below. However, a rebound may keep the channel above the moving averages. Moving towards the upper border of the channel could find resistance at 1000 SAT.
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By: Azeez Mustapha
Title: Bitcoin Cash Price Prediction: BCH/USD Drops Below $450 Level
Sourced From: insidebitcoins.com/news/bitcoin-cash-price-prediction-bch-usd-drops-below-450-level
Published Date: Tue, 28 Dec 2021 16:10:04 +0000
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