Price Analysis

Bitcoin Cash Pulls off More than 30% Profit Over the Last 30 Days

  • BCH had its 30-day high price ($307.36) on November 6; correcting down since then
  • Bitcoin Cash kick starts this month on quite a bullish note as compared to the previous one
  • Price level above $300 poses as a strong resistance; support level seems at $281
  • In BCH’s monthly chart, the bull-run seems intact until now

The monthly chart clearly emphasizes on how the BCH price has escalated before closing the previous month. The coin has kept the uptrend intact in this month, and a few days ago, it hit the 30-day high price (which is also its 7-day high price) at $307.36. However, the coin has corrected a bit down from there.

Bitcoin Cash Price Prediction

BCH price was sluggishly trading in the price range of $211 to $227 in the initial part of October. After a high swing to $235, the coin saw a pullback to $205, where it found strong support. From there, BCH coin price took a major surge above $277 and continued to move up after a minor correction at $247. On October 30, Bitcoin Cash price traded as high as $303, which is way above the target price ($187) if we consider buying the security on October 23 for $205.

A minor price plunge near $273 took place at the beginning of this month. After a rebound above $298, the coin noted a high price spike at $307 recently. At 10:24:10 UTC, BCH is trading at $287.75, after corrections.

BCH price
BCH Chart By TradingView

The SMA lines are heading towards a death cross at the moment despite the current bullish sentiment. Meanwhile, RSI shows no extremities now as it stands at 55. MACD is mildly bullish as its MACD line is above the signal line just above the zero line of the histogram. Bitcoin Cash may see resistance at $292.4, $295.57, and $299.49 and support levels at $285.31, $281.39, and $278.22.

Tags

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.
Back to top button
Close