Bitcoin Cash Price Prediction – March 8
The Bitcoin Cash price prediction shows that BCH is recovering from the daily low of $272.34 level as the price remains within the channel.
BCH/USD Market
Key Levels:
Resistance levels: $350, $370, $390
Support levels: $200, $180, $160
BCH/USD is recovering from the daily low of $272.34 as the coin heads toward the 9-day and 21-day moving averages. At the time of writing, the Bitcoin Cash is changing hands at $283, having gained over 3.38% since the beginning of the European session to touch the daily high at $287.66. However, with latest the recovery, the digital asset is currently likely to cross above the moving averages within the channel.
Bitcoin Cash Price Prediction: Can BCH Break Above $300?
The Bitcoin Cash price is heading upward and could cross above the moving averages if the bulls put more pressure. However, if the bulls maintain the upward trend, BCH/USD may likely stay above the moving averages which could cross above the upper boundary of the channel to touch the resistance levels of $350, $370, and $390, keeping the price at the upside. In other words, any strong selling pressure below the current market value at $283.13 may drag the price towards the lower boundary of the channel.
However, should in case Bitcoin Cash slide to the downside, a bearish continuation could bring the price to the supports at $200, $180, and $160. The technical indicator Relative Strength Index (14) is likely to cross above 40-level to suggest a possible bullish movement for the market.
Against Bitcoin, the buyers are now showing some commitments to the market as the price moves a little bit upward. However, following the recent positive sign, the current market movement may create an uptrend if the buyers push the price above the 9-day and 21-day moving averages.
Moreover, as the technical indicator Relative Strength Index (14) moves to cross above 40-level, the market price may resume an uptrend to cross above the moving averages that could touch the resistance level of 800 SAT and above. Meanwhile, a retest towards the lower boundary of the channel could lower the price to the support level of 650 SAT and below.
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