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Bitcoin Cash Price Analysis: BCH Token A Storm Before The Silence, May Hit $2000 In Future

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  • BCH token price is at $990 with a 7.50% gain, on Saturday’s trading session
  • The 24-hour volume in Bitcoin cash is at $4,106,190,841 with a 47.10% increase
  • The BCH/BTC pair was trading at 0.01729 BTC with a gain of 1.90%
Source: BCH/USD on TradingView

The 4-hour technical chart of BCH token price forecasts an uptrend. According to pivot points, BCH’s critical support level is placed at $750. Whereas if it moves up, the key resistance level to watch is $1180. While diving into the weekly chart of a 4-hour time-frame, it completes a bullish engulfing candlestick pattern representing bulls are in control.

EMA- (20,50) acts as another strong support in the coin. EMA-20 (blue) intersects above EMA-50 (purple), which projects a positive trend. The price is above EMA-20 (blue). Investors may perceive positive crossover in the EMA, and the price will also follow the positive trend.

RSI indicator (BULLISH), with a value of 67.35, indicates a buy signal in the coin. Moreover, Investors can see a downward slope from 75 to 67 in the index, and it may cool down in future trading sessions.

The volume of (22.03K) is above the Volume MA (13.34K) of 20-days. buying   pressure is maintained in Bitcoin Cash to drive its price to higher levels.

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Bitcoin Cash (BCH) Token Price Action Projects Bullish Move

BCH token price traded at $990 with a gain of 7.50% in the last 24-hour and 27.15% up in the weekly time-frame. Furthermore, BCH bounced from the support of $750. In contrast, the market capitalization stands at $18 billion. Technically, investors can perceive a positive crossover in the EMA, and the price is above the EMA-20. RSI index showcases a downward slope. Moreover, the price movement can be towards the resistance of $1180 in future trading sessions.

 

Resistance: $1180

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Support: $750

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