Bitcoin Cash Price Prediction for Today, December 4 – BCH Technical Analysis

The Bitcoin Cash price prediction reveals that BCH is moving bullishly with a gain of 7.43%, as the coin moves toward the channel.

Bitcoin Cash Prediction Statistics Data:

• Bitcoin Cash price now – $246.92
• Bitcoin Cash market cap – $4.85 billion
• Bitcoin Cash circulating supply – 19.5 million
• Bitcoin Cash total supply – 19.5 million
• Bitcoin Cash CoinMarketCap ranking – #19

BCH/USD Market

Key Levels:

Resistance levels: $275, $285, $295

Support levels: $200, $190, $180

BCH/USD is hovering above the 9-day and 21-day moving averages as the coin moves toward the upper boundary of the channel. According to the daily chart, the candle formation may continue to respect the upward movement if the bulls increase the pressure, but sliding below the moving averages might position the market price toward the south while the closest support level could be located around the $225 level.

Bitcoin Cash Price Prediction: BCH/USD Moves for the Additional Gains

The Bitcoin Cash price is heading to the upside as an increase above the upper boundary of the channel could trigger intense buying to the resistance levels of $275, $285, and $295. On the contrary, the Bitcoin Cash price may likely hold the current market value at $246 before heading to the nearest support level of $225. Therefore, if the Bitcoin Cash price drops below this support level, it may likely hit the closest support at $210.

However, the critical support after this could be located around the $200, $190, and $180 levels if the selling volume keeps increasing. However, the 9-day moving average is likely to cross above the 21-day moving average which reveals that the market may gain more upwards.

BCH/BTC Keeps Heading to the South

Against Bitcoin, the Bitcoin Cash price is likely to cross above the 9-day and 21-day moving averages. Meanwhile, if the coin continues to rise, the nearest resistance level could be at 750 SAT and above as the buyers push the coin toward the resistance level of 600 SAT.

Looking at the upside; if the coin slides below the 9-day moving average and crosses below the lower boundary of the channel, the nearest support level could be located at 550 SAT. Therefore, if the price falls further to create a new low, the support could be found at 450 SAT and below. Meanwhile, if the 9-day MA crosses above the 21-day MA, this could mean that the market may trade bullishly.

Alternatives to Bitcoin Cash

Bitcoin Cash has seen a significant uptrend in the last 24 hours, breaking the $255 resistance level. This positive momentum has persisted for four consecutive days, driven by increased buying pressure. BCH/USD is emerging as a promising coin in the current market, with expectations of reaching $260 soon as it targets its next resistance level. Meanwhile, traders are to keep a close watch on Bitcoin Cash for its ongoing upward trajectory.

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