Bitcoin Cash Price Prediction – February 26
The Bitcoin Cash price prediction shows that BCH price is preparing to cross above the moving average to begin the bullish movement.
BCH/USD Market
Key Levels:
Resistance levels: $400, $420, $440
Support levels: $200, $180, $160
BCH/USD is currently exchanging hands at $312 after touching the daily high at $324.33 and consolidates within the channel. Meanwhile, the price not staying above upper boundary of the channel ruins the long-term technical picture of the coin. However, Bitcoin cash will have to cross above the channel to guide against the downward pressure while the closest support may come at $300, which could be the daily low.
Bitcoin Cash Price Prediction: What Could be the Next Direction for Bitcoin Cash?
The Bitcoin Cash price regains back above the 9-day moving average because the movement towards the south may push the coin to the support levels of $200, $180, and $160. However, BCH/USD is trading at $312.75 and still trading within the 9-day and 21-day moving averages. On the upside, a sustained move above the upper boundary of the channel may create more strength for the bulls with the focus to move the market to the next resistance levels of $400, $420, and $440 respectively.
At the moment, the technical indicator Relative Strength Index (14) remains above 45-level, which indicates that the market may move to the upside. Looking at the daily chart, there may be a need for support to be formed around $300 and $280 to provide tight protection which could allow the buyers to concentrate on stirring action to the north.
Against Bitcoin, BCH price is above the 9-day and 21-day moving averages as the buyers keep the price within the channel and could move towards the upper boundary of the channel while the technical indicator Relative Strength Index (14) moves to cross above 60-level.
However, if the bulls succeeded in breaking above the upper boundary of the channel, the BCH price may hit the potential resistance level at 900 SAT and above. On the contrary, any bearish movement could bring the price to the support level of 700 SAT and below.
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