Bitcoin Cash Price Prediction Today September 3 – Bitcoin Cash Technical Analysis

Bitcoin Cash price prediction shows that BCH may head towards the lower channel which may later settle into a consolidation phase.

Bitcoin Cash Prediction Statistics Data:

• Bitcoin Cash price now $313
• Bitcoin Cash Market Cap – $6.17 Billion
• Circulating supply of Bitcoin Cash – 19.75 million
• Total supply of Bitcoin Cash – 19.75 million
• Bitcoin Cash Rank on Coinmarketcap – #15

Assessing the potential of a cryptocurrency often benefits from early investment. For example, Bitcoin Cash (BCH) has seen dramatic fluctuations, with a 24-hour low of $311.42 and a high of $325.87. Over time, it reached an all-time high of $4,355.62 on December 20, 2017, reflecting a 92.82% decline from that peak. Conversely, it reached an all-time low of $75.08 on December 15, 2018, but has since risen by over 316% from that low. This historical performance highlights the token’s volatility and its significant potential for recovery.

BCH/USD Market

Main levels:

Resistance levels: $400, $420, $440

Support levels: $240, $220, $200

The BCH/USD pair was trading within a descending channel, facing a major resistance level at $313.This level has historically acted as both support and resistance, making it a crucial barrier for BCH. Recently, the price tried to break out of the moving averages but was rejected at the $326 level, confirming the strength of this resistance.

Bitcoin Cash Price Prediction: BCH Price May Consolidate Below Moving Averages

Despite the recent rejection, Bitcoin Cash price has formed several bullish patterns, including a breakout from a long-term falling wedge. This pattern suggests a possible upside move, but the price is now testing the $311 level which has provided strong support. However, this support is crucial, as a breakdown could lead to further declines, potentially leading to a test of the lower channel support at around $250. Any further downside could hit crucial supports at $240, $220, and $200.

However, if BCH manages to break out of its current descending channel, the next important resistance level to watch could be around $360. A break above this level could start an upward march towards this target, offering significant upside potential for traders. Meanwhile, if there is an increase in buying pressure, the price could break the channel to reach the $380 resistance. While trading at this level, the bullish continuation could reach the $400, $420, and $440 resistance levels, respectively.

BCH/BTC continues to move downward

Against Bitcoin, Bitcoin Cash is likely to continue its downward movement as bears continue to show serious commitment within the market.According to the recent negative signal, the downtrend may continue as long as buyers fail to push the price above the 9-day and 21-day moving averages.

However, the 9-day moving average remains below the 21-day moving average to confirm the downward movement. Hence, any further downtrend could reach the support level of 4300 SAT and below, but a bullish crossover above the upper boundary of the channel could push the price to the resistance level of 6500 SAT and above.

Meanwhile, towards the end of August, @HBVT8375 updated his followers on X (formerly Twitter) on the future of $BCH. He noted that if $BCH closes the month above $400, similar to the previous month, it could signal the start of a major rally. However, if it does not reach this level, he advised accumulating more $BCH in preparation for future gains. This strategic outlook underscores the importance of the $400 level as a key indicator of potential bullish momentum in the market.

August is coming to an end. Is it? Bitcoin Cash This month closed above $400 like the previous month. If so, it would mean a big price spike. Bitcoin Cash In front. If not, buy more. pic.twitter.com/mhkCchqtW4

— LEO68 (@HBVT8375) August 30, 2024

Alternatives to Bitcoin Cash

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