Bitcoin Cash Price Prediction – March 29
The Bitcoin Cash price is recovering from the daily opening price at the $368 level as the price continues to fluctuate.
BCH/USD Market
Key Levels:
Resistance levels: $4450, $470, $490
Support levels: $280, $260, $240
BCH/USD is trading above the 9-day and 21-day moving averages after touching the daily high at the $381 resistance level. At the time of writing, Bitcoin Cash is changing hands at $379.19, having gained over 3.01% since the beginning of the European session. However, with latest the recovery, the digital asset is likely to cross above the upper boundary of the channel to increase the bullish movement.
Bitcoin Cash Price Prediction: Can BCH Break Above $400?
The Bitcoin Cash price stays above the 9-day and 21-day moving averages at the price level of $379.19. However, if the bulls maintain the upward trend, BCH/USD may likely move to touch the resistance levels of $450, $470, and $490 to keep the price on the upside. In other words, any strong selling pressure below the 21-day moving average may drag the price towards the lower boundary of the channel if the bears step back into the market.
However, should in case Bitcoin Cash trade below the moving averages, a bearish continuation could bring the price to the supports of $280, $260, and $240. Meanwhile, the technical indicator Relative Strength Index (14) is likely to cross above the 70-level, indicating a possible bullish movement.
When compared with Bitcoin, the Bitcoin Cash price is heading to the south as the coin moves within the 9-day and 21-day moving averages. However, following the recent positive sign, the current market movement may begin to follow an uptrend if the buyers push the price above the 21-day moving average.
Moreover, as the technical indicator Relative Strength Index (14) remains above the 40-level, once it increases the bullish pressure, the market price could hit the resistance level of 900 SAT and above. Meanwhile, a retest below the lower boundary of the channel could lower the price to the support level of 680 SAT and below.
Looking to buy or trade Bitcoin Cash (BCH) now? Invest at eToro!
68% of retail investor accounts lose money when trading CFDs with this provider
Read more:
Source: https://insidebitcoins.com/news/bitcoin-cash-price-prediction-bch-usd-likely-to-step-above-400