Bitcoin Cash Price Prediction – March 9
The Bitcoin Cash price prediction keeps recovering as the price remains within the short-term bullish trend.
BCH/USD Market
Key Levels:
Resistance levels: $380, $400, $420
Support levels: $200, $180, $160
BCH/USD is in the hands of the bulls as the coin prepares to cross above the 9-day and 21-day moving averages. However, due to a lack of buying power, the bulls may need to gather enough energy to push the coin above the upper boundary of the channel. The technical indicator Relative Strength Index (14) is moving to cross above 50-level with the signal line pointing to the north for more bullish signals.
Bitcoin Cash Price Prediction: Bitcoin Cash May Spike to the Upside
Looking at the daily chart, the Bitcoin Cash price is ready to break into the upside as the 9-day moving average is crossing above the 21-day moving average. However, the more the bulls pressurized the bears, the higher the coin would reach. Therefore, if the bulls maintain the upward trend, BCH/USD may continue with the bullish movement which could take the coin to the resistance levels of $380, $400, and $420.
On the other hand, any strong selling pressure may drag the price below the moving averages, and should BTC trade below the daily opening price of $287.46, a bearish movement could take the price to the support levels at $200, $180, and $160.
Against Bitcoin, the Bitcoin Cash is below the 9-day and 21-day moving averages as the bulls increase their entries within the market. At the time of writing, the Bitcoin Cash price has not been able to push the price upward as it is currently trading at 719 SAT. If the Bitcoin cash signals a bullish rally, it may likely meet resistance at 800 SAT and above.
Looking at the daily chart, traders can say that the market may remain at the downside as the technical indicator Relative Strength Index (14) moves below 40-level. Therefore, BCH is likely to face the downside by sliding below the nearest support at 700 SAT. Moreover, if the coin crosses below the lower boundary of the channel, it may find support at 650 SAT and below.
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