Bitcoin Cash Price Prediction – July 26
The Bitcoin Cash price prediction shows that BCH may cross below the 21-day moving average as the coin faces a downtrend.
BCH/USD Market
Key Levels:
Resistance levels: $200, $210, $220
Support levels: $50, $40, $30
At the time of writing, BCH/USD is heading to the downside as the coin trades around $115 below the 9-day moving average and is yet to cross below the 21-day moving average. The technical indicator returns to the bearish scenario as the Relative Strength Index (14) crosses below the 50-level, 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 face the lower boundary of the channel to touch the nearest support level of $100.
At the time of writing, the coin is moving sideways, but the buyers are expected to come into the market to correct the current market value with a possible jump above $120. Meanwhile, if there is an increase in buying pressure, the price may break out of the moving averages to reach the $150 resistance. While trading at that level, a bullish continuation could reach the resistance levels of $200, $210, and $220 respectively.
On the other hand, if the coin drops below the moving averages, a minimum swing below this barrier may bring the market to the support level of $80. Exceeding this level could take the coin to $50, $40, and $30 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 if the buyers failed to push the price above the upper boundary of the channel.
However, the technical indicator Relative Strength index (14) could not cross above 60-level as the signal line moves sideways. Therefore, any bearish movement below the 50-level could push the coin to the support level of 450 SAT and below, but a bullish cross above the channel may push the price to the resistance level of 700 SAT and above.
