Bitcoin Cash

bullish

Bitcoin

Verge

Rise

<p>The post <a href="https://coinpedia.org/price-analysis/bitcoin-cash-bch-price-eyes-to-hit-500-as-btc-price-nears-70k/" rel="noopener noreferrer nofollow">Bitcoin Cash (BCH) Price Eyes To Hit $500 As BTC Price Nears 70K?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The cryptocurrency market has displayed a strong bullish price action over the past weekend, indicating an increase in the buying-and-selling pressure within the crypto space. Further, the market leader, <a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> price has reclaimed the $69K mark, suggesting a bullish outlook this week.</p>
<p>Following this, Bitcoin Cash (BCH) price has displayed a similar price action by adding approximately 18% to its portfolio over the past 2 days. With the rising volatility, will BCH price hold momentum and reclaim $500 or retest its lows?</p>
<h2 class="wp-block-heading" id="h-bch-price-on-the-verge-of-a-major-breakout">BCH Price On The Verge Of A Major Breakout:</h2>
<p>Amid increased price volatility in the crypto market, the <a href="https://coinpedia.org/price-prediction/bch-bitcoin-cash-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Cash price</a> has added 13.08% to its portfolio with a trading volume of 426.322 Million and a 24-hour High/Low of $444.51 and $391.93. Furthermore, it has surged 13% within the past seven days and 16.89% over the past 30 days.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcMSfRhydKlN7sYky4lRVkxdGeZtkYMQ0exyvhBND1H837yV4mHiG6lPuxkTha10HoqXSHtfm9Csht2skAplBPR_cIcED4ccvOw4knttvxMyYI6qM7rqUJjzdEIisVyiXiXavjVGrqhrywUBc6ZeJVFQEi-?key=vbS5bDuxBLJJTdj5qBt84Q" alt="Bitcoin Cash Price Analysis">
 <figcaption class="wp-element-caption">
  TradingView: BCH/USDT
 </figcaption>
</figure>
<p>Positively, the <a href="https://markets.coinpedia.org/bitcoin-cash/" target="_blank" rel="noopener noreferrer nofollow">BCH coin price</a> has successfully retested its support trendline of the ascending channel pattern in the 1D time frame and displayed a sharp rise toward its upper level. Moreover, this Bitcoin-based altcoin is on the verge of testing its resistance trendline, the outcome of which is uncertain.</p>
<p>With a trading value of $444.5 and a Year-to-Date (YTD) return of 71.48%, the Bitcoin Cash price has successfully claimed the place of the 14th largest cryptocurrency with a market capitalization of $8.779 Billion.</p>
<h2 class="wp-block-heading" id="h-bitcoin-cash-market-sentiments">Bitcoin Cash Market Sentiments:</h2>
<p>The Simple Moving Average (SMA) displays a bullish curve in the price chart, suggesting an increase in the bullish sentiment within the crypto space.</p>
<p>Further, the technical indicator, MACD, records a constant rise in the green histogram with its averages showing a constant uptrend. This highlights a positive outlook for the altcoin this week.</p>
<h2 class="wp-block-heading" id="h-will-bch-rise-again">Will BCH Rise Again?</h2>
<p>A break out from the channel pattern could result in the Bitcoin Cash crypto heading toward its resistance level of $507 during the upcoming weeks. Maintaining the price at that level could set the stage for the BCH token to attempt to test its upper high of $680.5.</p>
<p>However, in case of a bearish reversal, the altcoin could plunge below its support level of $402 and retest its support trendline of the ascending channel pattern.</p>

Bitcoin Cash (BCH) Price Eyes To Hit $500 As BTC Price Nears 70K?

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Інші статті, опубліковані 29 лип. 2024 р.

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