BCH Price Prediction: Will BCH Price Smash $800 Hurdle After Breakout?

According to the technical chart, BCH was struggling in a parallel channel since May. The digital asset price attempted multiple times to overcome the

Bitcoin Cash (BCH) price analysis reveals a bullish trend with a significant surge and maintenance of key support levels.

A breakout towards the $800 hurdle is possible if multiple resistance levels are cleared successfully.

Technical indicators favor a bullish outlook, with RSI indicating positive momentum.

Failure to surpass the $520 level may trigger profit booking and a pullback towards major support levels.

Bullish momentum is expected to face resistance at $520 and $700, while bearish momentum may pause at $350 and $280.

Bitcoin Cash (BCH) price analysis for 1-D reveals a bullish trend with a significant surge and maintenance of key support levels. The second-tier crypto has managed to maintain crucial support levels despite recent market volatility.

BCH price surged by 8.96% in the past 24 hours, reaching $454.00 with a market capitalization of $8.92 billion and a 24-hour trading volume of $508.16 million at the last check.

BCH price recovered from recent losses and surged higher, displaying bullish momentum. A crucial breakout may lift BCH towards the $800 hurdle.

Bitcoin Cash (BCH) technical analysis: A closer look at the chart reveals that BCH price encountered resistance at the $520 Fib Extension level and formed a lower high, indicating a potential bearish divergence from the recent bullish trend.

However, BCH price recovered from the demand zone and rose sharply, forming an ‘Inverted head and shoulder’ pattern and taking support on a major support level.

The price rose by 26% in 4 days and recovered from the 200-day moving average, indicating a strong bullish trend and a demand zone.

Based on historical behavior, the BCH price may easily extend to the major resistance level of $520. Suppose the buyers remain strong or interested, the Bitcoin Cash price may approach the $700 hurdle in the next few months.

In contrast, if the crypto price fails to exceed the $520 Fib Extension level, short-term profit booking could be seen. The profit booking may drag the price to the major support level.

At press time, BCH was trading above the key moving averages, indicating bullish momentum. The RSI is at 68 and has developed a golden crossover with the RSI-based moving average, indicating positive momentum and a buy signal.

Overall, the technical indicators are in favor of a bullish forecast.

BCH price analysis reveals a bullish trend with the price showing signs of strength and managing to maintain key support levels. There is a possibility of a breakout towards the $800 hurdle if it clears multiple resistance levels successfully.

The technical indicators are currently favoring a bullish forecast, with the RSI reflecting positive momentum. If the price fails to surpass the $520 level, we might see some profit booking and a temporary pullback towards major support levels.

This bullish trend in BCH is expected to be disturbed near the $520 and $700 hurdles. On the other hand, the bearish momentum might halt near the $350 and $280 mark.

The above analysis is purely based on a technical perspective and does not constitute financial advice. Readers are advised to conduct their own thorough research before making any investment decisions.

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