Bitcoin Cash Price Prediction: BCH Retracts From The $700-mark

1 Min Read
Last Updated July 23rd 2021

Daily Bitcoin Cash BCH Technical Analysis
  • Bitcoin Cash has broken below the 20-bar SMA.
  • The RSI has dipped into the neutral side.

Between February 1 to February 14, the Bitcoin Cash price has jumped from $400 to $720, gaining more than $320 in its overall valuation. Let’s take a closer look.

 

Bitcoin Cash Price Is Flirting Around $700

Over the last four days, the Bitcoin Cash price has dropped from $720 to $695 and is hovering around the $700 psychological level. This correction has dipped the RSI into the neutral zone, meaning the price is presently no longer overvalued.

bch/usd daily chart 021921

Image: BCH/USD daily

The Bitcoin Cash price has one notable support wall at $685 wherein 29,750 addresses had purchased 398,000 BCH tokens. Another notable support is at $625. On the upside there is a lack of strong resistance barriers.

bch/usd volume chart 021921

Image: IntoTheBlock

The 4-hour Bitcoin Cash price chart has two specific sell signals:

  1. BCH has flipped the 20-bar SMA from support to resistance.
  2. The MACD shows sustained bearish momentum.

bch/usd 4-hour chart 021921

Image: BCH/USD 4-hour

 

Bitcoin Cash Price Is Expected To Reach These Levels

Bitcoin Cash price is going to trend horizontally above the $685 support wall and around the $700 line.

Top Brokers in
    All Regulated Brokers
    67% of retail clients lose money when trading CFDs with this provider.