Bitcoin Cash Price Prediction January 19

Bitcoin Cash predicts that BCH will fall below $380 in the near future, indicating that the coin could be moving into the negative.

BCH/USD Market

Key Levels:

Resistance levels: $450 to $500 and $550 to $550

Support levels: $300, $250, $200

BCH/USD continues to be in a downtrend, as bears continue to dominate the cryptocurrency landscape. The Bitcoin Cash price currently hovers below the 21-day and 9-day moving averages. This is a sign that the trend is bearish. It may touch $350 support. The technical indicator is still bearish, as the Relative Strength Index (14) may drop into the oversold area.

Bitcoin Cash Price Prediction: BCH price could spike below $350

Bitcoin Cash is currently trading at $370. The daily chart shows that the currency is trading below its upper limit. The market price is currently below the 9-day and 21-day moving averages. This signals a sell signal, as the Relative Strength Index (14) drops below the 40-level.

A minimum swing could bring the market down to the $350 support level. Moving below this level could lead to bears moving up to $300, $250 and $200 levels. A high swing could lead the bulls to move above the channel's upper boundary. The coin could trigger a bullish rally that may see the price rise to $450, $500 and $550 resistance levels.

The daily chart shows that the price is moving towards the south when compared to Bitcoin. The daily chart shows that buyers failed to push the price higher than the 9-day and 21 day moving averages.

The technical indicator Relative Strength Index (14) crosses below 40-level. A bearish continuation could lower price to support level of 830 SAT or below. However, if the market price crosses above the 9 and 21-day moving medians, it could begin an upward trend that could push the coin towards resistance level of 950 SAT.

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By: Azeez Mustapha
Title: Bitcoin Cash Price Prediction: BCH/USD Down By 2.77%
Sourced From: insidebitcoins.com/news/bitcoin-cash-price-prediction-bch-usd-down-by-2-77
Published Date: Wed, 19 Jan 2022 16:30:53 +0000