Bitcoin Cash Price Prediction – November 13
The Bitcoin Cash’s sudden dip below $800 today as the coin may likely reclaim back the losses if the bulls step back.
BCH/USD Market
Key Levels:
Resistance levels: $750, $800, $850
Support levels: $550, $500, $450
BCH/USD is moving sideways as bears may dominate the entire market. At the time of writing, BCH/USD is hovering above the 9-day and 21-day moving averages as the trend is bringing a bearish inclination, which may likely retest the support at $650. Looking at the technical indicator, the Relative Strength Index (14) continues to move below 60-level.
Bitcoin Cash Price Prediction: Would Bitcoin Cash Keep the Price Upward?
According to the daily chart, the Bitcoin Cash price is likely to face the downtrend but the best bulls can do is to defend the support at $650 and focus on pulling the price towards $700 level. However, BCH/USD is making an effort to push the price back to the upside and it is also looking forward to reclaiming the ground past $670.
Meanwhile, if there is an increase in buying pressure, the price may break towards the upper boundary of the channel to reach the $700 resistance. While trading at this level, a bullish continuation could reach the resistance levels of $750, $800, and $850 respectively. In other words, if the coin decides to follow the negative side, a minimum swing could bring the price to a $600 support level. Exceeding this level could take the price to the support levels of $550, $500, and $450 by crossing below the lower boundary of the channel.
When compares with Bitcoin, the Bitcoin Cash price is seen moving sideways as bears keep pushing the price to the negative side. According to the recent negative sign, the trend may likely follow the downtrend as soon as the buyers failed to push the price towards the upper boundary of the channel.
However, as the technical indicator Relative Strength Index (14) stays below 60-level, any further downtrend could lower the price to the support level of 900 SAT and below, but once it moves out of this zone, the market price may likely begin an upward trend to push the coin towards the resistance level of 1150 SAT and above.
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