BCH/USD May Drop More to Test $350 Support

Bitcoin Cash Price Prediction – March 23

The Bitcoin Cash price prediction withdraws from monthly high at $387 which is necessary for the next rally as long as $330 support is not broken.

BCH/USD Market

Key Levels:

Resistance levels: $450, $470, $490

Support levels: $280, $260, $240

For the past few days, BCH/USD has been heading to the upside but should the Bitcoin Cash fall back to the old support, the bears might come back to dominate the market but at the time of writing, the bears are trying to come back into the market. However, traders may expect a bearish movement before any rebound comes to play out within the channel.

Bitcoin Cash Price Prediction: Would BCH Head to the Upside?

As the daily chart reveals, the Bitcoin Cash price is currently shifting its focus to $350 after clearing resistance at $360. Nevertheless, the Bitcoin Cash touches $384 in the early hours of today before plunging back to $356. At the time of writing, Bitcoin Cash is following a sideways movement, and crossing below the 9-day and 21-day moving averages may bring the coin into the negative side.

On the other hand, if the market drives below the $350 support, the BCH price may slump to the initial support at $300, which may later bring the price back to its critical supports at $280, $260, and $240. Presently, the technical indicator Relative Strength Index (14) nosedives to cross below 60-level, this could increase the selling pressure, and it may likely break below the moving averages. Meanwhile, a bullish reversal above the upper boundary of the channel could hit the resistance levels of $450, $470, and $490.

Against Bitcoin, the daily chart reveals that the bears are bringing the market price below the upper boundary of the channel. However, following the recent negative signs, the trend may continue to fall if the bears pump more pressure into the market.

However, as the technical indicator Relative Strength index (14) signal line moves below 70-level, if the buyers can hold the support of 840 SAT, the market price may begin an upward movement, pushing further can take it to the resistance level of 950 SAT, any bearish cross below the 9-day and 21-day moving averages could lower the price to 780 SAT and below.

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