BCH Price Prediction – November 29
The Bitcoin Cash bulls come back low after the $281 rejection a couple of days ago.
Resistance levels: $325, $345, $365
Support levels: $240, $220, $200
BCH/USD indicates an upward trend in the ascending channel market, rising above the 21-day moving average. A few days ago, it was revealed that BCH dropped below the moving averages but currently the market may be planning a volatile move as the coin moves moderately within the channel. Therefore, the BCH market is making an effort to regain its initial momentum over time.
What to Expect from Bitcoin Cash (BCH)
At the time of writing, the Bitcoin Cash is trading at $285.34 below the 9-day moving averages but already hovering above the 21-day moving average. However, any cross below the lower boundary of the channel could bring the coin to the support levels of $240, $220, and $200.
On the upside, a sustained move above the 9-day moving average could ease the initial downside pressure and create momentum for the bulls with the focus to move the market to the next resistance levels of $325, $345, and $365 respectively. Looking at the daily chart, the technical indicator RSI (14) is currently looking bullish as the signal line is seen moving above the 50-level. Meanwhile, the traders may expect more rise if the bulls inject more pressure in the market.
When compares with Bitcoin, the daily chart reveals that the bears are showing a little commitment to BCH trading. Following the recent negative sign, the trend may continue to go down if the sellers pump more pressure into the market. However, the technical indicator RSI (14) is hovering around the 43-level as the market moves sideways.
If the buyers can hold the support of 0.0155 BTC, the coin may likely resume an upward trend to cross the 9-day and 21-day moving averages. More so, any further bullish movement above the channel could touch the resistance level of 0.018 BTC and 0.019 BTC but a retest could lower the price to 0.013 BTC and 0.012 BTC support levels.