Bitcoin Cash price: $318 Key BCH resistance levels: $490, $580 Key BCH support levels: $335, $270

*Price at the time of writing

Bitcoin Cash (BCH) Long Term Price Prediction: Ranging

Bitcoin Cash dropped from a high of $428 to a low of $272 on July 8. Since then, the price has been ranging on the long-term charts in the $300 to $320 area. The trend overall for BCH/USD is ranging and the price is below its six week moving average.

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Prices over the long-term are below the support level at $335 and are now eyeing its historical support at $270. Volume, however, is in the bulls favor with a higher number of orders on the green candles than red. Most recently the price moved upwards above the twenty-week moving average.

Bitcoin Cash (BCH) Medium Term Price Prediction: Ranging

On the daily charts, we see a slight reversal of the momentum to the upside. The MACD is turning upwards after oscillating from a substantially negative position. The indicator is now set for prices to rise higher as the MACD and signal line cross and converge.

Giving more evidence of a reversal, we see a bullish engulfing candlestick pattern formation (circled). After the formation completed, prices went higher before consolidating into a sideways movement. As momentum has shifted, over the medium-term we can expect that prices will continue to consolidate before trending higher.

Bitcoin Cash (BCH) Short Term Price Prediction: Ranging

Looking at the 4-hourly charts, we see BCH/USD in a sideways, ranging market. Momentum is still trending upwards as we can see from the RSI, but for now, neither side has the advantage. If the RSI continues to trend upwards it may seep into the overbought levels and cause a pullback, yet it still has some room to increase before those levels are reached.