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The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/bch-price-analysis-bch-price-eyes-300-with-this-breakout/">BCH Price Analysis: BCH Price Eyes $300 With This Breakout!</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Bitcoin Cash witnessed a staggering 200% price surge in June, drawing significant attention from traders and investors alike. However, following this astronomical rise, a downtrend correction ensued, with Bitcoin Cash now finding support at the $180 mark, priming it for a bullish spike that’s contesting the resistance trend line. 
Currently, Bitcoin Cash is oscillating between two pivotal Fibonacci levels: 61.80% and 38.20%. The breakout direction from these levels will be a decisive factor in predicting Bitcoin Cash’s future price trajectory.&nbsp; 
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Bitcoin Cash is sculpting a potential double bottom pattern, taking root from the $180 mark. This setup suggests a reversal is on the horizon, aiming to challenge the short-term correction resistance trend line. A successful breakout could propel Bitcoin Cash beyond the 38.20% Fibonacci level. 
Currently, the BCH price trades at $195, with an intraday growth of 0.76%, displaying a potential rounding reversal before reaching the 200-day EMA. Moreover, the price action displays multiple Doji candle formations that increase the likelihood of a bullish breakout. 
Shifting our focus to the technical indicators, the RSI presents a bullish divergence in alignment with the double bottom pattern, indicating an undercurrent of positive momentum. Furthermore, the MACD and its signal lines sustain a bullish stance with similar divergence and dodge a potential bearish crossover. 
On inspecting the exponential moving averages in the daily chart, a conspicuous sideways trend becomes evident between the 50 and 200-day EMA. This lateral movement signals caution, as a looming death cross might materialize if the BCH price dips beneath the crucial $180 support threshold. 
<h2 id="will-bitcoin-cash-bch-price-reach-300" data-name="will-bitcoin-cash-bch-price-reach-300" class="wp-block-heading">Will Bitcoin Cash (BCH) Price reach $300?&nbsp;</h2> 
On the bullish front, Bitcoin Cash exhibits substantial potential for growth, with a target of $300 being feasible upon a breakout above the $228 mark, a level that coincides with the 38.20% Fibonacci retracement.&nbsp; 
Conversely, if the price of BCH can’t hold on to $180, a major level that aligns with the 61.80% Fibonacci level, it could tumble down to $150 or even as low as $100. 
The tug-of-war between these Fibonacci levels will indeed play a pivotal role in the BCH price trend in the near term.

BCH Price Analysis: BCH Price Eyes $300 With This Breakout!

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