Bitcoin Cash Price Prediction – January 1
The Bitcoin Cash price prediction shows that BCH is moving sideways with the short-term outlook within the channel.
Resistance levels: $490, $510, $530
Support levels: $380, $370, $360
BCH/USD is moving sideways at the time of writing but due to the lack of enough buying power, bulls has not been able to sustain higher growth above the 9-day and 21-day moving averages. Meanwhile, the technical indicator Relative Strength Index (14) is pointing towards the north, suggesting the bullish signals into the market.
Bitcoin Cash Price Prediction: Would BCH Price Move to the Upside?
The Bitcoin Cash price is trading at $444.38 as the immediate downside is protected by the support level of $400. Besides, the range support at $420 is a key to the BCH trading. Other critical areas to watch include the supports at $380, $370, and $360. Looking at it technically, sideways trading action could dominate the current session and this may continue in the coming sessions.
However, following the recent price, BCH/USD is likely to face a potential resistance at $450 level above the 9-day and 21-day moving averages and a break above the upper boundary of the channel is likely to produce a huge green candle to the upside, which could hit the resistance levels at $490, $510, $530.
When compares with Bitcoin, the market is above the 9-day and 21-day moving averages. At the time of writing, BCH is seen pushing the price upward as it is currently trading at 935 SAT. If the Bitcoin cash crosses below the moving averages, it may likely meet support at 870 SAT and below.
Looking at the daily chart, the market price is likely to continue the upward movement as the technical indicator Relative Strength Index (14) is pointing to the north aiming to cross above 55-level. Moreover, should Bitcoin Cash move towards the upper boundary of the channel, it may locate the potential resistance at 985 SAT and above.
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