The Bitcoin Cash price line rose past the $306 level on the 15th of August. Nuggy Dee is a Trading View analyst who is of the opinion that the BCH price will rise past the $350 mark soon.
1-Day Bitcoin Cash price analysis
Just before the day’s trade began, the cryptocurrency’s price turned bullish and rose towards the $302 mark. In the evening, the BCH price exhibited another rise in its price and it moved past the $306 level, where it saw a day’s high of $308.05 US Dollars. At the time of writing, Bitcoin Cash traded at $307.95 US Dollars.
What to expect from the Bitcoin Cash price?
The Trading View analyst Nuggy Dee believes that the BCHUSD pair is currently in a buyers zone, and suggests that the traders should buy Bitcoin Cash.
Bitcoin Cash price chart by Trading View
The analyst highlighted the buyers zone between the $270 to $315 range. The analyst has depicted in their chart that BCH is currently accumulating in the zone and if the BCHUSD trading pair gains enough volume, it will test the nearest resistance near $318 and break through it to rise above the $350 mark. The rise will follow a brief rollback towards the $318 support, after which the cryptocurrency will continue to rise if it holds the $318 support.
For this trading idea, the final target price was laid at the $481.99 level. The analyst drew the strong support line at the $203.36 mark. Though if the cryptocurrency falls below the buyers’ zone, this trade may be canceled.
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.