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Home News Bitcoin Cash News

Bitcoin Cash price rests near $293, what’s next?

Taha Farooqui by Taha Farooqui
August 21, 2020
in Bitcoin Cash News
2 min read
Bitcoin Cash price rests near $293, what's next?
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On the 20th of August, the Bitcoin Cash price varied between the $288 and $296 price levels through the day’s trade. For most of the day, the price rested near the $292 to $294 range.

1-Day Bitcoin Cash price analysis

Bitcoin Cash price chart 1 - 20 August

Bitcoin Cash price chart by Trading View

After beginning the 1-Day trade with a trading price of $292, the price line moved to trade in the middle of the $290 and $296 levels. For the day’s lowest, the price line fell to $288.97 US Dollars. At the time of writing, Bitcoin Cash traded at $300.60 US Dollars.

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What to expect from the Bitcoin Cash price?

Mach Rich Trading is a Trading View analyst who believes that the BCH price will rise towards the $900 mark in a long-term swing setup.

Bitcoin Cash price chart 2 - 20 August

Bitcoin Cash price chart by Trading View

The analyst highlighted a buy signal for the BCHUSD trading pair. The first entry-level for this trade was shown at $290, while the second entry-level was marked at $270. The stop-loss in this idea lies at the $250 mark.

If the idea comes into play, the cryptocurrency is expected to break several upside resistances. The first target price lies at $330, which is followed by $400, $470, $540, $610, $680, and $750. The analyst explained that the Perpetual Swaps Volume for Bitcoin Cash reached a 7-Day high lately, while the on-chain transactions have also increased.

The analyst set up the swing setup on the 4-Day chart for the BCHUSD trading pair. Currently, BCH is said to be in a buying zone. If this trade completes, the BCH price will have risen past the $750 level.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.

Taha Farooqui

Taha Farooqui

Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.

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