03 October 2022 : In this article we will walk you through Bitcoin Cash price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Bitcoin Cash, Is BCH a good investment? Bitcoin Cash support & resistance levels etc. But before diving deep into the BCH technical analysis, let us talk about the current market conditions.
Over the last twenty-four hours, there was a down fall of -1.34 percent, bringing the entire cryptocurrency market to $942,932,453,244. The total trading volume stands at $55,487,317,888. Bitcoin shares 39.83 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,585.87 level after an upward movement of 2.11%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 2.39 percent reaching to $1,325.49 during the previous 24 hours.
While publishing this blog, BNB traded at $288.43, following a price change of 1.88% within the same time frame. XRP the native coin of XRP is down by -0.31 and currently trading at $0.46. Additionally, Cardano reached $0.43 after seeing a uplift of 0.57% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.
Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Bitcoin Cash (BCH)
|BCH Resistance Levels||BCH Support Levels|
|Resistance Level 1||$124.35||Support Level 1||$109.52|
|Resistance Level 2||$132.10||Support Level 2||$102.44|
|Resistance Level 3||$139.18||Support Level 3||$94.69|
According to Price Analysis Market Index, Bitcoin Cash (BCH) is trading at $115.82 with a trading volume of $207,499,985.00. However,BCH has a price decline of -0.31% in the last 24 hours.BCH price changes 0% over the week with a total market capitalization of $2,222,722,752.00 USD.
BCH price analysis for 03 October 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Bitcoin Cash.
|Simple Moving Average (10)||116.71||Sell|
|Exponential Moving Average (10)||116.76||Sell|
|Simple Moving Average (20)||116.31||Sell|
|Exponential Moving Average (20)||116.37||Sell|
|Simple Moving Average (50)||121.44||Sell|
|Exponential Moving Average (50)||121.27||Sell|
While BCH’s Williams %R indicator is at -43.969 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The Relative strength index (RSI) for BCH Coin is currently hovering at 57 for 14-days average line, which means BCH is moving towards overbought zone. The MACD line is standing above of the signal line after a positive crossover. Bitcoin Cash investors need to wait for any directional change over the daily chart. As per the price analysis, the BCH price may find support at these crucial levels of $109.52, $102.44, moving below these levels might bring the price to $94.69. on the other side, the resistance levels are at $124.35 and $132.10. A bullish breakout from the above levels may lead the price to the $139.18.