Bitcoin Cash Price Prediction – May 25
The Bitcoin Cash price prediction shows that BCH may cross below the channel as the coin faces a downtrend.
BCH/USD Market
Key Levels:
Resistance levels: $245, $265, $285
Support levels: $135, $115, $95
At the time of writing, BCH/USD is heading to the downside as the coin trades around $173 below the 9-day and 21-day moving averages. However, the technical indicator returns to the bearish scenario as the Relative Strength Index (14) moves to cross into the oversold region, which reflects the influence of the sellers over the price.
Bitcoin Cash Price Prediction: BCH Price May Push for More Downs
At the beginning of today’s trade, the Bitcoin Cash price could not cross above the 9-day moving average as the coin heads to the downside, but the sharp drop is affecting the buyers from an attempted recovery towards the upside. Now, BCH/USD is likely to cross below the lower boundary of the channel to touch the nearest support level of $150.
Presently, the coin is on the negative side, but the buyers are expected to come into the market to correct the current market value with a possible jump above $200. Meanwhile, if there is an increase in buying pressure, the price may break out of the moving averages to reach the $220 resistance. While trading at that level, a bullish continuation could reach the resistance levels of $245, $265, and $285 respectively.
On the other hand, if the coin drops below the channel, a minimum swing below this barrier may bring the market to the support level of $150. Exceeding this level could take the coin to $135, $115, and $95 support levels.
Against Bitcoin, the bears are showing a serious commitment within the market and according to the recent negative sign, the bearish trend may continue as much as the buyers failed to push the price above the 9-day moving average.
However, the technical indicator Relative Strength index (14) could not cross above 40-level as the signal line nosedives toward the oversold region. Therefore, any bearish movement below the lower boundary of the channel could push the coin to the support level of 550 SAT and below, but a bullish cross may push the price to the resistance level of 720 SAT and above.
