Bitcoin Cash Price Prediction – April 6
The Bitcoin Cash price prediction trades below $350 as the coin may be entering deeply into the negative side.
Resistance levels: $420, $440, $460
Support levels: $300, $280, $260
BCH/USD is moving to the downside as bears now move to dominate the entire cryptocurrency landscape. At the moment, the Bitcoin Cash price is hovering below the 9-day and 21-day moving averages as the trend has a bearish inclination, which may likely touch the support at $350. However, the technical indicator remains bearish as the Relative Strength Index (14) may cross below 50-level.
Bitcoin Cash Price Prediction: BCH Price Could Drop Below $350
The Bitcoin Cash price is currently hovering at $358.93; the daily chart shows that the coin is trading below the upper boundary of the channel. At the time of writing, the market price nosedives below the 9-day ad 21-day moving averages, issuing a sell signal as the technical indicator Relative Strength Index (14) slumps below the 55-level.
Moreover, a minimum swing may likely bring the market to the $320 support level. Therefore, moving below this level could take the bears to $300, $280, and $260 levels. On the other hand, a high swing could take the bulls to cross above the upper boundary of the channel. Above this, the coin can trigger a bullish rally which may take the price to $420, $400, and $380 resistance levels.
When compared with Bitcoin, the daily chart reveals that bears continue to push the price towards the south. The daily chart reveals that the trend may continue to follow the downtrend as buyers were unable to keep the price above 9-day and 21-day moving averages.
However, as the technical indicator Relative Strength Index (14) moves to cross below the 40-level, it is likely to move toward the oversold region, and a bearish continuation could lower the price to the support level of 700 SAT and below, but if it crosses above the 9-day and 21-day moving averages, the market price may likely begin an upward trend which could push the coin towards the resistance level of 900 SAT and above.
Looking to buy or trade Bitcoin Cash (BCH) now? Invest at eToro!
68% of retail investor accounts lose money when trading CFDs with this provider