Bitcoin Cash Price Prediction – September 19
According to the daily chart, the Bitcoin Cash price may extend the breakdown below the $600 support if the price fails to cross above the moving averages.
BCH/USD Market
Key Levels:
Resistance levels: $750, $800, $850
Support levels: $500, $450, $400
BCH/USD couldn’t break above the 9-day and 21-day moving averages as the coin is seen following a bearish inclination and this has become an uphill task for the coin to sustain the gains above the potential $700 due to the renewed bearish momentum emanating from the rejection around $647. However, Bitcoin Cash (BCH) price is currently trading with a 2.02% loss, and the value remains below the 9-day and 21-day MAs.
Bitcoin Cash Price Prediction: Bitcoin Cash Price Not Ready for Uptrend
At the moment, the Bitcoin Cash price may continue to follow the bearish movement as the coin heads toward the south. However, the daily breakdown reveals that BCH/USD may delay its uptrend as long as the 9-day MA remains below the 21-day MA. Therefore, if the support level of $600 gets weak, a price break-down may occur as the bears may find new low at $500, $450, and $400 support levels.
In other words, a bullish cross above the 9-day and 21-day moving averages may likely roll the market back to $700 resistance and could move towards the $750, $800, and $850 resistance levels, establishing a new high for the market. At the moment, the technical indicator Relative Strength Index (14) is seen moving below the 50-level.
When compares with Bitcoin, the bears are still showing a strong commitment to the BCH trading by bringing the market price back to the downside. Therefore, looking at the current market movement, the Bitcoin Cash price may go down if the sellers put more pressure on the market. However, the Relative Strength Index (14) is facing the downside as the signal line points to the oversold region.
Therefore, if the buyers can hold the current price of 0.0129 BTC, the Bitcoin Cash price may resume uptrend and possibly cross the 9-day and 21-day moving averages to touch the resistance level of 0.014 BTC and above but sliding below the lower boundary of the channel could lower the price to 0.012 BTC and below.
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