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Bitcoin Cash Price Prediction: BCH/USD Trades Slightly Above $390

Published: Saturday, 15th January, 2022 - 22:39

Bitcoin Cash Price Prediction – January 15

The Bitcoin Cash price prediction shows that BCH price stays above the 9-day moving average to continue the bullish movement.

BCH/USD Market

Key Levels:

Resistance levels: $450, $470, $490

Support levels: $320, $300, $280

Bitcoin Cash Price Prediction
BCHUSD – Daily Chart

BCH/USD is currently exchanging hands at $392.68 after the coin begins trading today at $385.63 and may consolidates within the channel. Meanwhile, for the price not to stay above $400 may ruin the long-term technical picture of the coin. However, Bitcoin cash will have to move back to this level to guide against the downward pressure while the closest support expects the coin at $350, which could be the daily low.

Bitcoin Cash Price Prediction: Bitcoin Cash May Head to the Upside

The Bitcoin Cash price regains back above the 9-day moving average but the movement towards the south may bring the coin to the support levels of $320, $300, and $280. Now, BCH/USD is trading at $392.68 and still trading above the 9-day but yet to cross above the upper boundary of the channel. On the upside, a sustained move above the channel may create more strength for the bulls with the focus to move the market to the next resistance levels of $450, $470, and $490 respectively.

However, the technical indicator Relative Strength Index (14) crosses above 40-level, which indicates that the market remains at the upside. Looking at the daily chart, there may be a need for support to be formed around $380 and $360 to provide tight protection which could allow the buyers to concentrate on stirring action to the north.

When compares with Bitcoin, BCH price is hovering within the 9-day and 21-day moving averages as the buyers may push it to the upside and could move towards the upper boundary of the channel while the technical indicator Relative Strength Index (14) moves above 45-level.

BCHBTC – Daily Chart

However, if the bulls succeeded in breaking above the 21-day moving average, the BCH price may hit the potential resistance level at 950 SAT and above. On the contrary, any bearish movement below the 9-day moving average could bring the price to the support level of 850 SAT and below.

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This post first appeared on: Inside Bitcoins

Author: Azeez Mustapha
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