⠀Bitcoin Cash price: $260 ⠀Key BCH resistance levels: $283, $300, $325, $350 ⠀Key BCH support levels: $253, $235, $220, $197

*Price at the time of writing

Bitcoin Cash Long Term Price Prediction: Bullish

Bitcoin Cash saw a stunning performance over the past 12-hours with a nice $82 gain. A few hours ago, the price hits $283 before it dropped to $269 – where BCH is currently priced at. On the daily chart, the market is now trading outside the descending wedge – showing that the buyers are back.

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The BCH price may advance higher if the bulls can stay in control. The important resistances to keep an eye on are the $283 and $300. More so, we may see a further rise to $325 and $350 resistance. As we can see, the RSI is bullish at the moment as there's more room for an impulsive move.

But MACD is yet to confirm a positive crossover for the Bitcoin Cash as consider trading remains under a bearish bias, although bullish on the short-term. However, a bearish leg may roll the BCH price inside the wedge at $253, $235, $220 and $197 support. As it appeared now, such a move is not valid.

Bitcoin Cash Medium Term Price Prediction: Bullish

After locating support at $197 on October 23, Bitcoin Cash finally broke out of a four weeks channel boundary yesterday, revealing a bullish takeover. The recent surge was characterized by 2 huge candles, followed by 3 choppy candles which now suggests that the bullish momentum is becoming weak.

However, we may see a decent pullback shortly after the buying price is exhausted. Support to look out for is $260, $250 and $240 – retesting the break level. As we can see, the BCH market is extremely overbought on the RSI indicator which signals a potential price drop.

Following the ongoing trend, the BCH bulls might sustain pressure to the current high at $283 before printing a new weekly high at $290 and $300. The MACD currently indicates positive as buyers gain control of the market.

Bitcoin Cash Short Term Price Prediction: Bullish

The price of BCH continued to follow a bullish sentiment on the hourly chart but it appeared that the momentum has reached an overvalued condition on the RSI indicator. We may see a downward correction to the 50 level shortly. The $260 and $240 are likely to provide support for an incoming decline. The MACD moving averages are also contracting for a change in trend.

Meanwhile, the BCH bulls are trying to keep the momentum higher after a slight drop to $263. But now, the pressure seems low at the moment. If the bulls can push the price above the previous resistance at $283, we can expect a further climb to $296. But as it appeared now, an upward move seems unlikely.

Conclusion

The last 24-hours price increase has allowed a bullish take over in the market but it seemed buying pressure is weakening at the moment as the bears may be around the corner. Bitcoin Cash could test close supports before the rising further. And if the market consolidates instead of dropping, we might continue to witness an upward movement for the next couple of days.