Bitcoin Cash price $260 Key BCH resistance levels $300, $350, $400 Key BCH support levels $240, $200, $160

Bitcoin Cash long-term price prediction: Bullish

Observing the long-term outlook, BCH has been following an upward movement since mid-December after a long correction to the test of the purple trend line which resulted in a bounce. Yesterday, BCH witnessed heavy buying pressure and closed the trade at the $240 level of the pre-December high.

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The surge in volatility was fueled by high trading volume that the BCH market experienced in a short period of time. The important new resistance levels for Bitcoin Cash lie at $300, $350 and $400, depending on how far the bulls can sustain the momentum. As revealed on the daily MACD indicator, the bull-run is just signaled.

Bitcoin Cash traders and investors are likely to key into the future bull-run, noting the current buy signal. In fact, there's no sign for a short move at the moment. However, a drop may find close support at $240. Below the above support lies $200 and $160. For now, a strong green momentum is in play for the next few days of trading.

Bitcoin Cash medium-term price prediction: Bullish

For the past two weeks, Bitcoin Cash had been trading within the range of a tight wedge with choppy price action before seeing a significant price surge yesterday. After creating a monthly high at $292, the 4-hour green candle later closed on a long wick as the new candle opening forms red, reflecting a sign for a potential drop. A short move is expected to meet quick support levels at $240, 220 and $200. The sharp move is reflected on the 4-hour MACD indicator.

More importantly, BCH is to be considered as maintaining an upward movement for now. However, if the coin runs a correction to the aforementioned support levels, the next major resistance levels for a bounceback lie at $260, $280 and $300.

Bitcoin Cash short-term price prediction: Bullish

Following the structural market, Bitcoin Cash added around $100 to its price tag in the last 24hours of trading after the sudden surge. Today, BCH appeared to be running a short-term correction as price nears the $240 support level, testing the diagonal trend line (purple). The bears are actually in play now. A short move is also suggested on the hourly MACD signal.

Bitcoin Cash is expected to rebound after testing the above support level. A further fall, however, may significantly drag the token to a bottom at the $200 support level. At the same time, an upward move is likely to hit previous resistance levels at $270 and perhaps $290. A successful breach above these levels could propel price to a new monthly high. For such a scenario to occur, heavy buying volume is needed to send the bulls to the next level.