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Bitcoin Cash Price Analysis: Bulls Push BCH Back Up To $550

2 Min Read
Last Updated March 27th 2021

Daily Bitcoin Cash BCH Price Forecast

  • Bitcoin Cash price had flipped the 20-day SMA from support to resistance.
  • The MACD is about to reverse from bearish to bullish.

Prior to today, the Bitcoin Cash price dropped from $705 to $515, falling by nearly $200. As things stand, the BCH has improved to $530. Let’s take a closer look with technical analysis.

Bitcoin Cash Price Finds Support At The 50-day SMA

After trending horizontally around the $715 mark for close to a week, the bears finally took control of the Bitcoin Cash price this Monday, Following that, the price managed to flip the 20-day SMA from support to resistance. The 50-day SMA has managed to stay strong and prevent further drops for BCH price.

bch/usd daily chart 022521
Image: BCH/USD daily

Looking at IntoTheBlock’s IOMAP, we can see that robust support lies the 50-day SMA ($515) since ~80,000 addresses had previously purchased 905,500 BCH tokens at this zone. This level is robust enough to prevent further bearish corrections and give the buyers a platform to bounce back.


bch/usd volume chart 022521

Image: IntoTheBlock

There are two positives to note in the 4-hour Bitcoin Cash price chart:

  1. Flipping the 200-bar SMA from resistance to support.
  2. The MACD is about to reverse from bearish to bullish.


bch/usd 4-hour chart 022521

Image: BCH/USD 4-hour

Bitcoin Cash Price Is Expected To Reach These Levels

Bitcoin Cash price will likely go up to the 20-day SMA, which coincides with the $600 line.

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