- Bitcoin Cash price prediction expects a retest to $600.
- Strong resistance lies at the $530 mark.
- Strong support lies at the $500 mark.
The Bitcoin Cash price prediction by Blurry Face Nobody shows a price ascension towards the $611 mark. The analyst believes that the cryptocurrency will break above an up-channel in the long-term after reaching the $600 range by the 25th of January. On the 19th of January, the cryptocurrency moved above the $525 level.
1-Day Bitcoin Cash price analysis
Bitcoin Cash rose towards the $525 mark on the 19th of January while Bitcoin BTC recovered above the $36500 level. The BCH price is suffering from fluctuations as of now, while the daily high for the cryptocurrency was marked at $528.15 with a daily low of $502.90. At the time of writing, the BCH price is marked at $519.16 while the cryptocurrency has a market cap of $9,678,571,082.
Across the technicals, we see that the BCH/USD pair is in a buying condition with 14 out of 28 in the buy indication whereas ten stand neutral. Out of the oscillators, two indicate a sell signal, and nine stand neutral. 14 out of 17 of the moving averages show a buy signal, while one is neutral and two are in favor of a sell indication.
The price was rejected by the upper Bollinger band on the 11th of January and is now supported by the midline at $462. If the cryptocurrency slips below the midline, the next target for BCH price will be marked below the $400 level, whereas the current target lies near the $600 level. The Bollinger bands also show an increase in expansion in this time frame, which depicts an increase in the price volatility for the cryptocurrency.
Bitcoin Cash price prediction: What to expect?
While the king of cryptocurrency rests near $36500 on the 19th of January, analyst Blurry Face Nobody expects the BCH price to rise towards $600 in an up-channel.
Per the Bitcoin Cash price prediction, the cryptocurrency has recently broken above a significant descending trend line that has a triangle formation with the bottom of the up-channel. The first level marked near $512 has already been passed by the BCH price while the next levels lie at $538 and $611. The analyst discussed that if BCH does not break above this ascending parallel channel, the cryptocurrency will return to the $600 range by the 25th of January. Once the price reaches the $600 range, a local breakout towards the upside for this main channel can be expected by the cryptocurrency.
Analyst Azad Ghorbani expects a rise in the Bitcoin Cash price. This Bitcoin Cash price prediction suggests a push towards the $532.76 target, after the cryptocurrency has already broken out of a wedge pattern. The first target for this idea lay at the $507 mark which the BCH price completed on the 19th of January.
Analyst Being Human Crypto expects a breakout from a triangle pattern for the BCH/USD pair. The cryptocurrency had been squeezing into the triangle formation from the 9th of January. Per the Bitcoin Cash price prediction, the cryptocurrency will test higher resistances at $543, $581, and $630 in the long term.Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.