Bitcoin Cash Price Prediction: BCH Crosses Above The 50-day SMA
Daily Bitcoin Cash BCH Technical Analysis
- The 20-day SMA has provided healthy support to Bitcoin Cash price.
- The 4-hour chart has already flashed a buy signal in the TD sequential detector.
Over the last two days, the Bitcoin Cash price has dropped from $595 to $520, losing almost $75 in overall valuation. However, the 20-day SMA has remained strong and prevented BCH from going through a further downtrend.
Bitcoin Cash Price Bulls Step Back After Two Bearish Days
The buyers have made a comeback following two straight bearish days and pushed the Bitcoin Cash price up to $535. During this upward surge, BCH managed to cross over the 50-day SMA. The MACD shows sustained bullish momentum. All these are positive signs for BCH.
Image: BCH/USD daily
On the upside, the Bitcoin Cash price has a resistance barrier at $555. Previously, 47,000 addresses had purchased nearly 310,000 BCH tokens at this level. Breaking above this zone should take BCH to $600.
In the 4-hour Bitcoin Cash price chart, BCH has flashed the buy signal in the form of a red-nine candlestick, which must have triggered this bullish revival.
Image: BCH/USD 4-hour
Bitcoin Cash Price Is Expected To Reach These Levels
The Bitcoin Cash price will rise up to the $555 resistance wall.