BCH Price Prediction – September 27
The Bitcoin Cash shows an amazing intraday hike as it rises from today’s low of $216 to currently trading above $225.
Resistance levels: $245, $255, $265
Support levels: $200, $190, $180
BCHUSD – Daily Chart
BCH/USD is seen pushing the price above the critical resistance level. The coin is trading above the 9-day and 21-day moving averages to trade at $225.86 at the time of writing. The Bitcoin Cash is also seen focusing on the bullish momentum after a sustainable break above the channel. More so, the coin has gained over 2.01% since the beginning of the day as it is using $215 support as a jumping-off ground to develop the upside momentum, which is now gaining traction.
What to Expect from Bitcoin Cash (BCH)
On the upside, if BCH/USD stays above the 9-day and 21-day moving averages, the price may break through the resistance level of $235 and $240 respectively. Meanwhile, the technical indicator shows that the bulls are ready for action especially when the up-trending RSI (14) begins. Any further bullish movement above the channel may pave the way to the resistance levels of $245, $255, and 265.
In other words, if the price falls below the moving averages, the market may be compelled either to a range-bound or begin a downward movement. This may likely serve as a major blow for the market sentiments as traders could interpret it as a sign of underlying weakness. The next important support comes at $210, which may be followed by $200, $190, and $180 support levels.
Looking at BCH/BTC, one thing to note here is that the market is preparing to change the trend and a short-term bullish breakout may likely play out because the technical indicator RSI (14) is moving around 44-level and this could find the nearest resistance level at 0.0225 BTC and above.
BCHBTC – Daily Chart
However, peradventure the buyers failed to hold the current market value at 0.0210 BTC, the market price may likely continue a downward movement, while dropping further may bring the coin to the support level of 0.0190 BTC and below.