Bitcoin Cash Price Prediction: BCH Retracts From The $700-mark
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.
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.
The 4-hour Bitcoin Cash price chart has two specific sell signals:
- BCH has flipped the 20-bar SMA from support to resistance.
- The MACD shows sustained bearish momentum.
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.