Bitcoin Cash

2024

Strong

Bitcoin

Spot

The post <a href="https://coinpedia.org/price-analysis/bitcoin-cash-price-displays-strong-bullish-sentiments-eyes-a-20-soon/" rel="noopener noreferrer nofollow">Bitcoin Cash Price Displays Strong Bullish Sentiments! Eyes A 20% Soon?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Following the approval of the Spot Bitcoin ETFs, the crypto market has recorded a jump of over 3.5% in its valuation. Further, the BCH price has added over 5% within the past day, indicating a positive uptrend in the industry.
The <a href="https://coinpedia.org/price-prediction/bch-bitcoin-cash-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin Cash price</a> traded in a consolidated range between $226.6 and $238.5 for over two weeks, following which the market gained momentum and the price broke out of the range.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/CdoO1NZ9MJKStIupLbvyhgZZcOrZ5cSaSlw0L_LvEIa3EnfVRq7iu8SIi92aEYSb0ATDZhme9jAFdDYmglKvFmyLNrboVSYjLtYrIKKVlLSHXOUQ8DA-DLR8L-yQWwXT8riz_eVWDJcptgQkvocCIr4" alt="Bitcoin Cash Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: BCH/USDT
 </figcaption>
</figure>
The BCH price jumped over 20%, after which the price faced rejection at $273. After recording a correction of approximately 8%, the price regained momentum and jumped over 13% in valuation.
Following this, the bears overpowered the bulls, resulting in the coin trading under a bearish influence. The year 2024 started on a bearish note as they constantly traded sideways for a while.
The price then experienced a correction of 13%, after which the price traded sideways between $226.6 and $238.5 for a while. Recently, the price regained momentum and broke out of the range, indicating a rising bullish sentiment in the market.
<h2 class="wp-block-heading" id="h-will-the-bch-price-go-up">Will The BCH Price Go Up?</h2>
The MACD displays a rising green histogram, indicating an increase in the buying pressure in the crypto space. Further, the averages show a constant rise, suggesting the price will continue gaining value in the coming days.
If the bulls hold the price above the support level of $251.3, the BCH price will test its resistance level of $261.8 soon. Moreover, if the market holds the price at that level, the Bitcoin Cash price will prepare to test its upper resistance level of $273 by the weekend.
Conversely, if the bears overpowered the bulls, the BCH coin price would lose momentum and fall to test its support level of $251.3 soon. Further, if the bears continue to dominate the market, it will plunge and prepare to test its lower support level of $238.5 by the week ahead.

Bitcoin Cash Price Displays Strong Bullish Sentiments! Eyes A 20% Soon?

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