Bitcoin Cash

Bitcoin

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/bch-price-analysis-is-bitcoin-cash-destined-to-cross-300/">BCH Price Analysis: Is Bitcoin Cash Destined To Cross $300?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Breaking past the short-term resistance trendline, the BCH price struggles to find bullish momentum to prolong the breakout rally. Facing rejections from the overhead resistance at $228, the higher price rejections keep the breakout rally under the fence. 
Moreover, a bearish pattern warns of Bitcoin Cash crashing under the 50-day EMA. Will <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin Cash price</a> manage to tap into the bullish trend momentum?&nbsp; 
<figure class="wp-block-image size-large"> 
 <img decoding="async" width="1024" height="463" src="https://image.coinpedia.org/wp-content/uploads/2023/09/23171258/BCHUSD_2023-09-23_16-33-13-1024x463.png" alt="" class="wp-image-232234" srcset="https://image.coinpedia.org/wp-content/uploads/2023/09/23171258/BCHUSD_2023-09-23_16-33-13-1024x463.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/09/23171258/BCHUSD_2023-09-23_16-33-13-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/09/23171258/BCHUSD_2023-09-23_16-33-13-768x347.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/09/23171258/BCHUSD_2023-09-23_16-33-13-1536x694.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/09/23171258/BCHUSD_2023-09-23_16-33-13-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/09/23171258/BCHUSD_2023-09-23_16-33-13.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
Moving sideways between the 50-day EMA and the overhead resistance at $228, the BCH price struggles to display a breakout rally. Moreover, the higher price rejection from the 38.20% Fibonacci retracement level warns of a downfall.&nbsp; 
Despite the 18% jump a week prior to consolidation, the BCH price action shows a potential double top forming in the range. Trading at $208.84, the Bitcoin Cash price is struggling to sustain above the 50-day EMA. Further, the price action highlights a Doji candle formation.&nbsp; 
Considering the uptrend fails to sustain above the 50-day EMA, the EMA may cut below the 200-day EMA, leading to a death cross.&nbsp; 
Nevertheless, the intense bearish indications for BCH price align with the HODLers expecting a retest of the broken trendline. The retest phase will bring buying opportunities to those who missed the train.&nbsp; 
Technical indicators: 
RSI indicators: The daily RSI makes an arch below the overbought boundary to descend to the halfway line. This indicates a weakness in underlying bullishness. 
MACD indicators: The declining histograms and the gap between MACD and signal lines warn of a bearish crossover.&nbsp; 
<h2 class="wp-block-heading" id="h-will-bitcoin-cash-bch-price-exceed-228">Will Bitcoin Cash (BCH) Price Exceed $228?</h2> 
From a technical standpoint, the short-term phase warns of a fall in Bitcoin Cash. However, the post-retest reversal in BCH price undermines the bearish signals and hints at a $228 breakout with a comeback. Further, the $228 breakout will push the Bitcoin Cash price to $300. 
If BCH hits a snag at $228, it could drop to the 200-day EMA and test the support level around $180.

BCH Price Analysis: Is Bitcoin Cash Destined To Cross $300?

Table of Contents

CoinPedia News

Other articles published on Sep 24, 2023

Bitcoin Faces Critical Test at These Resistance Levels Ahead of October Breakout – Top Expert

Nansen Reports a Security Breach and Asks Users to be Cautious

The role of renewable energy in sustainable cryptocurrency mining

TDY Stock (NYSE: TDY) Near Breakout Region, Will TDY Escape $425?

Dogecoin's 0.18% Price Dip to $0.06149: Key Takeaways for September 24, 2023

Weekly Analysis: BTC, ETH, SOL, LINK, LTC

Join our free newsletter for daily crypto updates!