Bitcoin Cash price prediction: BCH to hit $600 again, analyst

TL;DR Breakdown

• 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.