Bitcoin Cash Price Prediction – Dec 26
Bitcoin Cash price struggles to stay above $ 450 as bears call for $ 444, while the coin could consolidate around $ 400.
BCH / USD market
Resistance levels: $ 500, $ 520, $ 540
Support levels: $ 400, $ 380, $ 360
At the time of writing, BCH / USD is pushing for a consolidation around $ 450, but the trend is sloping downward, likely testing support at $ 420 if it crosses below the 9 and 21 moving averages. days. Furthermore, the technical indicator remains bearish as the Relative Strength Index (14) may cross below the 40 level to deepen into the negative region as the signal line reflects the influence sellers have on the price. .
Bitcoin Cash Price Prediction: Can BCH Price Go Down Further?
According to the daily channel, the best bulls can do is defend the support at $ 450 and focus on pulling towards $ 460. In recent days, the price of Bitcoin Cash lost balance along with other cryptocurrencies and the sharp decline affected buyers of a recovery attempt above the upper limit of the channel. However, BCH / USD is attempting to cross below the 9 and 21-day moving averages.
Also, the coin is currently on the downside, so a reflective bullish action is expected to correct declines with a possible jump above $ 455. Meanwhile, if there is an increase in buying pressure, the price it may break above the upper limit of the channel to reach the $ 480 resistance. While trading at that level, the bullish continuation could take the coin to the $ 500, $ 520 and $ 540 resistance levels.
Conversely, a minimal swing to the south is likely to bring the market to a support level of $ 420. Furthermore, this level could lead the bears to the critical support levels of $ 400, $ 380 and $ 360 respectively.
Against Bitcoin, the bears continue to show more engagement within the channel. Meanwhile, since the market price follows the recent negative sign, the trend may continue to follow the downtrend as long as buyers fail to push the price above the 9 and 21 day moving averages.
However, as the signal line of the Relative Strength Index (14) is seen below the 40 level, crossing above the 40 level may cause the coin to start an uptrend to touch the resistance level of 950 SAT and above. , but a new test. it could bring down the price of Bitcoin Cash to the support level of 850 SAT and below.
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Bitcoin Cash Price Prediction: BCH / USD May Seek $ 400 Support