Bitcoin Cash price touches $294, what’s next?

Bitcoin Cash price touches what s next

The Bitcoin Cash price line approached the $294 level on the 24th of August. All My Pips is a Trading View analyst who’s of the opinion that Bitcoin Cash will eventually see a long bull run towards the $480 mark, which is where the double top resistance lies.

1-Day Bitcoin Cash price analysis

Bitcoin Cash price chart 1 - 24 August

Bitcoin Cash price chart by Trading View

At the time of writing, the BCH price was observed at the $287.29 mark. The cryptocurrency observed a day’s high of $294.51 US Dollars on the 24th of August. Just after starting the day’s trade, the price line fell towards the $282 level, which was marked as the day’s lowest price for the 24th of August. The price line varied above the $286 level through most of the day’s trade.

What to expect from the Bitcoin Cash price?

The Trading View analyst All My Pips believes that the BCHUSD pair will rise towards the $450 mark after seeing a brief correction.

Bitcoin Cash price chart 2 - 24 August

Bitcoin Cash price chart by Trading View

The analyst explained that the BCH price will see a correction towards the downside, where the BCH price will either fall towards the $234.23 mark or the $261.21 level before it sees a rise.

The idea above depicts a double top resistance that the cryptocurrency previously tested in June 2019 and February 2020. Once the corrections towards the aforementioned price levels take place, the analyst believes that the cryptocurrency will move towards the double top resistance which lies above the $480 level. The idea is yet to come into play.

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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