The Bitcoin Cash price line moved towards the $283 mark after varying between the $276 and $288 price levels through the day’s trade. Trading Guru is a Trading View analyst who has suggested that the BCH price will rise towards the $330 mark.
1-Day Bitcoin Cash price analysis
Bitcoin Cash price chart by Trading View
The price fell to a day’s low of $276.73 US Dollars, after which it soared towards the $286 mark. The day’s highest value was achieved just before closing the trade on the 22nd of August when the price line stood at $287.57 US Dollars. At the time of writing, the cryptocurrency traded at $283.38 US Dollars.
Will the Bitcoin Cash price see a rise soon?
The Trading View analyst Trading Guru believes that Bitcoin Cash has a potential to gain 22% of its current price and rise past the $300 mark.
Bitcoin Cash price chart by Trading View
The analyst highlighted the pair inside a horizontal trading pattern, where price has been varying between the support and resistance for a while. The price stands near the bottom support of the channel, which is why the analyst is of the opinion that the BCH price will now move into a long trade pattern and rise towards the $330 level.
The stop-loss was placed at the $265.12 mark, while the analyst believes that Bitcoin Cash is currently in a buy zone. The entry-level for this trade was marked near the $270 level, as the price is expected to see a drop towards the $275 mark, before it begins to rise.
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.
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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.
