Bitcoin Cash price $312 Key BCH resistance levels $327, $357 Key BCH support levels $256, $228

*Price at the time of writing

Bitcoin Cash has enjoyed another surge recently, outperforming the rest of the crypto top 10. The price of Bitcoin Cash had surged yesterday after the announcement that its rival, Bitcoin SV, would be de-listed from Binance, which is arguably the most popular crypto exchange in the world.

Buy/Sell Bitcoin Cash (BCH)

How to buy Bitcoin Cash on Binance?

Regardless of the recent price surge, Bitcoin Cash has been climbing for a while now. The market is up by a total of 91% over the past 30 days and is up by a significant 137% over the past 90 trading days.

The cryptocurrency project is now ranked in 4th position, overtaking EOS and Litecoin, as it currently holds a $5.59 billion market cap valuation.

What has been going on?

Bitcoin Cash has been on an epic bull run since the start of April 2019. The market had managed to climb above the 100-day moving average and remain above, which is a strong bullish sign.

Price action had met resistance at a 1.618 Fibonacci Extension level (drawn in purple) priced at $327 during April and was unable to overcome this level. The market then briefly dropped into support around $256 before rebounding back into the aforementioned resistance once again.

Bitcoin Cash short-term price prediction: Bullish

After the break above the 100-day moving average and the fresh 2019 highs around $340, BCH is within a bullish short term trend. For this trend to continue, we would need to see the market break above the current resistance at $327 and climb further higher.

If the sellers do step back in, we expect this to be a short price fall. The market will reach strong support firstly at the $256 level which is followed with more support at the $228 level.

If the sellers continue to drop the market slightly lower, we can expect more strong support at the short term .618 Fibonacci Retracement level (drawn in green) priced at $204. This area of support is further bolstered by the 100-day moving average which is now expected to act as support moving forward.

Bitcoin Cash medium-term price prediction: Bullish

In the medium term, so long as BCH breaks above the $327 resistance level, we can expect Bitcoin Cash to remain bullish.

If the buyers do climb above the current resistance, they will meet higher resistance at the bearish .5 Fibonacci Retracement level (drawn in red) priced at $357. This bearish Fibonacci Retracement level is measured from the November 2018 high to the December 2018 low.

Resistance above this is then to be located at the $400 level followed by the $423 level where the bearish .618 FIbonacci Retracement level (drawn in red) lies. Above $423, higher resistance can then be located at a short term 1.414 and 1.618 Fibonacci Extension level (Drawn in blue) priced at $432 and $472, respectively.

This is finally followed up with resistance at the bearish .786 Fibonacci Retracement level (Drawn in red) priced at $517.

What are the technical indicators reading?

The RSI has managed to rebound above the 50 level which is a great promising sign for the bulls. If the RSI can continue to rise up above 50 we can expect the bullish run to continue further.