Bitcoin Cash Price Prediction: BCH/USD Dips Below $600
Bitcoin Cash Price Prediction – November 28
According to the daily chart, the Bitcoin Cash price prediction shows that BCH is seen moving below $600 as the coin ready to fall more.
Resistance levels: $600, $650, $700
Support levels: $500, $450, $400
At the time of writing, BCH/USD is experiencing a downward as the coin remains below the 9-day and 21-day moving averages. However, the zone between $600 and $500 stayed intact as the key support level but the bulls are keen to ensure that the price stays above $500 but today’s dips below the lower boundary of the channel tested the $542 support zone.
Bitcoin Cash Price Prediction: Bitcoin Cash Price May Remain at the Negative Side
Yesterday, the Bitcoin Cash price reached $573 level but it was unable to maintain its performance and begins to recede downwards. At the moment, BCH/USD is moving below the 9-day and 21-day moving averages but with all indications, it is possible for BCH/USD to fall more before the day runs out as the Relative Strength Index is likely to cross below 50-level, suggesting more bearish signals.
Moreover, if the market drives below the $530 support, the Bitcoin Cash price could slump to $500, $450, and $400, bringing the price to a new monthly low. Meanwhile, if the bulls can hold the support at the current market value and push the coin to the north, a strong buying pressure may likely take the price to $580 resistance. While trading at this level, a bullish continuation could touch the $600, $650, and $700 resistance levels.
When compares with Bitcoin, the daily chart reveals the Bitcoin Cash price is likely to cross below the 9-day and 21-day moving averages if the bears turn strong, sellers may expect the market price to hit the support levels of 950 SAT and 850 SAT respectively.
On the other hand, the 1100 SAT and 1200 SAT may likely produce resistance for the market should in case the buyers push the price towards the north. However, BCH/BTC pair may continue to follow the downward trend as the technical indicator Relative Strength Index (14) moves to cross below 50-level.
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Author: Azeez Mustapha