Bitcoin Cash Price Prediction – April 10
The Bitcoin Cash price prediction could extend the breakdown below the $320 support if the price fails to cross above the moving averages.
BCH/USD Market
Key Levels:
Resistance levels: $380, $400, $420
Support levels: $280, $260, $240
BCH/USD is yet to break above the 9-day and 21-day moving averages as the coin remains at the downside due to the renewed bearish momentum emanating from the rejection around $328. However, Bitcoin Cash (BCH) price is currently trading with a 0.35% gain, and the value remains below the moving averages.
Bitcoin Cash Price Prediction: Bitcoin Cash Price May Delay Its Uptrend
The Bitcoin Cash price may continue to consolidate in a flag formation as the coin may head towards the south. Nonetheless, the daily breakdown reveals that BCH/USD may delay its uptrend as long as the 9-day MA remains below the 21-day MA. Whereas, if the support level of $300 gets weak, a price break-down may occur as the bears may find new lows at $280, $260, and $240 support levels.
On the other hand, a bullish movement towards the 9-day and 21-day moving averages may push the market to the nearest resistance level of $350 before touching the potential resistance levels at $380, $400, and $420. At the moment, the technical indicator Relative Strength Index (14) is moving above the 40-level, which could bring more bullish signals.
When compared with Bitcoin, the recent sideways movement in the market is due to the price stability in the market and what the traders need to note here is that the market is preparing to change the trend and a short-term bearish breakout is most likely to play out because the technical indicator Relative Strength Index (14) is likely to cross below 40-level and this could find the nearest support level at 660 SAT and below.
However, the only condition for the resumption of the bullish trend is if the 750 SAT can provide support for the market, then the price may be able to cross above the 9-day and 21-day moving averages before touching the resistance level of 860 SAT and above. Meanwhile, the Bitcoin Cash price may continue to follow the sideways movement if the signal line of the technical indicator RSI (14) moves in the same direction.
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