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The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/bch-price-analysis-bch-eyes-300-despite-a-bear-trap/">BCH Price Analysis: BCH Eyes $300 Despite A Bear Trap!</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
With the market taking a bullish step in October, the altcoins are rising higher to their previous swing highs. Even the BCH price reaches the $250 mark with a remarkable growth of 10% within just two days.&nbsp; 
Currently, the overhead supply pressure at the psychological mark triggers a short correction in the Bitcoin Cash market value . However, with the sentiments taking a positive turn, the expectations for the <a href="https://coinpedia.org/price-prediction/bch-bitcoin-cash-price-prediction/">Bitcoin Cash price prediction</a> in 2023 remain optimistic.&nbsp; 
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With the recent recovery, the larger trend of the BCH price tells a story of a bullish revival to rise higher. The dominating buyers’ territory at $180 and the 200-day EMA gave Bitcoin Cash a bounce pad to regain momentum.&nbsp; 
Moreover, the sharp rise to the $250 mark completes a rounding reversal that hints at an inverted head and shoulder. Currently, the altcoin price trades at $243.41 with an intraday fall of 1.23% and hints at a tweezer top.&nbsp; 
With the incoming overhead supply pressure, the chances of BCH price taking a second dip to the $228 mark are increasing. This correction phase will complete the bullish pattern with the neckline at $250. 
Technical indicators: 
Coming to the technical indicators, the Directional Movement Index and the Exponential Moving Averages sustain a bullish point of view.&nbsp; 
DMI indicator: The ADX line (black line) skyrockets with the recent recovery, signaling a strong momentum. Moreover, the DI line maintains a bullish standpoint and signals further recovery.&nbsp; 
EMA: The 50 and 200-day EMA maintain a positive alignment and continue to rise higher, which certifies the uptrend in motion.&nbsp; 
<h2 class="wp-block-heading" id="h-will-bitcoin-cash-bch-price-touch-300">Will Bitcoin Cash (BCH) Price Touch $300?</h2> 
Struggling to overcome the $250 mark reflects a potential pullback to $228 in BCH price. However, the inverted head and shoulder pattern formation will increase the likelihood of Bitcoin Cash exceeding $300. With the potential to continue the rally above, the reversal from $228 or the $250 breakout will prove a crucial entry point for sideline buyers.&nbsp; 
Considering the price breaks below the $228 post, the downtrend will plunge the prices to $200.

BCH Price Analysis: BCH Eyes $300 Despite A Bear Trap!

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