Bitcoin Cash Price Prediction for Today March 5 – BCH Technical Analysis

adminMarch 6, 2024

join us telegram A channel to stay up to date on breaking news coverage

According to the Bitcoin Cash price prediction, BCH is falling towards its 9-day and 21-day moving averages as selling pressure increases in the market.

Bitcoin Cash is expected to reach $505.56 by March 9, 2024.

Bitcoin Cash (BCH) is currently trading at $463.86, reflecting a 24-hour loss of -4.81%. BCH underperformed BTC with a loss of -7.16%, while the broader cryptocurrency market fell -3.49%. BCH is expected to reach $505.56 by March 9, 2024, indicating a potential 10.25% increase over the next 5 days.

Bitcoin Cash Prediction Statistics Data:

Current Bitcoin Cash price – $463.5
Bitcoin Cash Market Cap – $8.48 billion
Bitcoin Cash circulating supply – 19.6 million
Bitcoin Cash Total Supply – 19.6 Million
Bitcoin Cash CoinMarketCap Ranking – 17th

BCH/USD market

Main level:

Resistance levels: $570, $590, $610

Support levels: $350, $330, $310

Bitcoin Cash Price Prediction for Today March 5 - BCH Technical Analysis — BCHUSD – daily chart

If BCH/USD slows and bears increase selling pressure, it could settle below the $430 support level. Meanwhile, the market price hit a daily low of $433.79 today. Additionally, Bitcoin Cash’s current performance is below typical expectations as the coin may continue to follow a downward trend.

Bitcoin Cash Price Prediction: Bitcoin Cash (BCH) Poised for Further Downtrend

If Bitcoin Cash price fails to maintain its price above its 9- and 21-day moving averages, there is a risk of a new bearish wave occurring. However, if the coin falls further and moves towards the lower boundary of the channel, initial support could be located below the $420 level where the market price could resume its upward trend.

Nonetheless, an upward move could be seen as the 9-day moving average remains above the 21-day moving average, but a bearish crossover to the downside could lead to important support levels at $350, $330, and $310. Moreover, a higher swing above the upper boundary of the channel could push the bulls up to the key resistance level of $550. If this comes into focus, the coin could trigger a bullish rally that could push the market price towards the $570, $590, and $610 resistance levels.

BCH/BTC May Face Downside

For Bitcoin, the daily chart shows that buyers are unable to push Bitcoin Cash higher. Meanwhile, the trend may continue downward if the bears continue to put more pressure on the market following recent negative signs.

Therefore, as the 9-day MA is positioned above the 21-day MA, if buyers fail to push the coin higher, the market price could be concentrated on the downside and a cross below the moving average could find support at 5200 SAT. Below, but a bullish move above the upper boundary of the channel may find resistance above 9000 SAT.

@rektcapital alerted his massive audience of over 409,000 followers on He also analyzed that Bitcoin Cash has actually broken out of its previous range. #BTC #Cryptocurrency #Bitcoin

$BCH / USD
This move has been brewing for months
Bitcoin Cash is finally released#BTC #Cryptocurrency #bitcoin https://t.co/MQKDRQwPaj pic.twitter.com/XJfoy9ZhrK
— Rekt Capital (@rektcapital) March 2, 2024

Alternatives to Bitcoin Cash

Bitcoin Cash is experiencing bearish momentum after reaching a daily high of $479.3, potentially retesting support at $433. Despite the imminent bearish signal, positive sentiment remains, with the 9-day moving average above the 21-day average. A comparison with Bitcoin Minetrix shows the promising potential of the latter due to its lower market capitalization and successful pre-sale. Although growth may be limited due to Bitcoin Cash’s large scale, the ongoing BTCMTX pre-sale provides investors with early entry, indicating significant growth potential for decentralized mining.

BitcoinMinetrix has reached a milestone: it has secured a whopping $10.5 million!

As Bitcoin Minetrix gains popularity, it is emerging as a pioneering and visionary token. The unique decentralized cloud mining platform attracted significant attention with an impressive pre-sale performance of nearly $11.8 million. With pre-sale currently underway, there has never been a better time to explore investment opportunities in this promising token.

You can now enjoy the benefits of Bitcoin Minetrix.