BCH/USD Gets Ready for $300 Resistance


Bitcoin Cash Price Prediction – March 8

The Bitcoin Cash price prediction shows that BCH is recovering from the daily low of $272.34 level as the price remains within the channel.

BCH/USD Market

Key Levels:

Resistance levels: $350, $370, $390

Support levels: $200, $180, $160

BCHUSD – Daily Chart

BCH/USD is recovering from the daily low of $272.34 as the coin heads toward the 9-day and 21-day moving averages. At the time of writing, the Bitcoin Cash is changing hands at $283, having gained over 3.38% since the beginning of the European session to touch the daily high at $287.66. However, with latest the recovery, the digital asset is currently likely to cross above the moving averages within the channel.

Bitcoin Cash Price Prediction: Can BCH Break Above $300?

The Bitcoin Cash price is heading upward and could cross above the moving averages if the bulls put more pressure. However, if the bulls maintain the upward trend, BCH/USD may likely stay above the moving averages which could cross above the upper boundary of the channel to touch the resistance levels of $350, $370, and $390, keeping the price at the upside. In other words, any strong selling pressure below the current market value at $283.13 may drag the price towards the lower boundary of the channel.

However, should in case Bitcoin Cash slide to the downside, a bearish continuation could bring the price to the supports at $200, $180, and $160. The technical indicator Relative Strength Index (14) is likely to cross above 40-level to suggest a possible bullish movement for the market.

Cloudbet bonus

Against Bitcoin, the buyers are now showing some commitments to the market as the price moves a little bit upward. However, following the recent positive sign, the current market movement may create an uptrend if the buyers push the price above the 9-day and 21-day moving averages.

BCHBTC – Daily Chart

Moreover, as the technical indicator Relative Strength Index (14) moves to cross above 40-level, the market price may resume an uptrend to cross above the moving averages that could touch the resistance level of 800 SAT and above. Meanwhile, a retest towards the lower boundary of the channel could lower the price to the support level of 650 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 link

Leave a Reply

Your email address will not be published.