Bitcoin Cash Price Prediction for Today, December 4 – BCH Technical Analysis

Bitcoin Cash price prediction shows BCH showing strength with a 7.43% gain as the coin moves towards the channel.

Bitcoin Cash Prediction Statistics Data:

• Current Bitcoin Cash price – $246.92
• Bitcoin Cash market cap – $4.85 billion
• Bitcoin Cash circulating supply – 19.5 million
• Bitcoin Cash total supply – 19.5 million
• Bitcoin Cash CoinMarketCap Ranking – 19th

BCH/USD market

Main level:

Resistance levels: $275, $285, $295

Support levels: $200, $190, $180

BCH/USD is hovering above the 9-day and 21-day moving averages as the coin moves towards the upper boundary of the channel. According to the daily chart, the candle formation could continue to show an upward trend as the bulls build up pressure, but a slide below the moving average could position the market price south and the nearest support could be located at the $225 level.

Bitcoin Cash Price Prediction: BCH/USD Moves for Additional Profits

Bitcoin Cash price is headed to the upside as a rise above the channel upper limit could trigger intense buying towards resistance levels of $275, $285, and $295. Conversely, Bitcoin Cash price is likely to maintain its current market value of $246 before heading towards the nearest support level of $225. Therefore, if the Bitcoin Cash price falls below this support, it is likely to reach the nearest support at $210.

However, if sales continue to increase, subsequent important supports could be located at the $200, $190, and $180 levels. However, it is likely that the 9-day moving average will surpass the 21-day moving average, which could indicate that the market could move higher.

BCH/BTC continues to head south

The price of Bitcoin Cash compared to Bitcoin is likely to exceed the 9-day moving average and the 21-day moving average. Meanwhile, if the coin continues to rise, the nearest resistance level could be above 750 SAT as buyers push the coin towards the resistance level of 600 SAT.

Looking at the advantages; If the coin slips below the 9-day moving average and crosses below the lower boundary of the channel, the nearest support level could be located at 550 SAT. Therefore, if the price falls further and forms a new low, support may be found below 450 SAT. On the other hand, if the 9-day moving average crosses the 21-day moving average, this could mean that the market could be trading bullishly.

Alternatives to Bitcoin Cash

Bitcoin Cash has shown significant gains over the past 24 hours, breaking the $255 resistance level. This positive momentum continued for four consecutive days, driven by increased buying pressure. BCH/USD is currently emerging as a promising coin in the market and is expected to reach $260 soon if it targets the next resistance level. Meanwhile, traders should closely watch Bitcoin Cash’s continued upward trajectory.

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