In this Bitcoin Cash (BCH) price prediction 2024, 2025-2030, we will analyze the price patterns of BCH by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
Bitcoin Cash (BCH) Current Market Status
What is Bitcoin Cash (BCH)
Bitcoin Cash is a peer-to-peer electronic money system that aims to become a trusted global currency with fast payments, micro-commissions, privacy, and high transaction capacity. Just as physical money, such as dollar bills, is transferred directly to the recipient, Bitcoin Cash payments are sent directly from person to person.
Bitcoin Cash (BCH) is a form of cryptocurrency very similar to Bitcoin. In fact, Bitcoin Cash is a fork of Bitcoin due to the split of the chain where a certain group of Bitcoin developers is not satisfied with the general direction of Bitcoin’s scalability.
Bitcoin Cash 24H Technicals
(Source: TradingView)
Bitcoin Cash (BCH) Price Prediction 2024
Bitcoin Cash (BCH) ranks 16th on CoinMarketcap in terms of its market capitalization. The overview of the Bitcoin Cash price prediction for 2024 is explained below with a daily time frame.
BCH/USDT Descending Channel Pattern (Source: TradingView)
In the above chart, Bitcoin Cash (BCH) laid out a descending channel pattern. Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices. but only after an upside penetration of the upper trend line. A descending channel is drawn by connecting the lower highs and lower lows of a security’s price with parallel trendlines to show a downward trend.
Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. An ascending channel is the opposite of a descending channel. Both ascending and descending channels are primary channels followed by technical analysts.
At the time of analysis, the price of Bitcoin Cash (BCH) was recorded at $365.29. If the pattern trend continues, then the price of BCH might reach the resistance levels of $405.1, $524.9, and $716. If the trend reverses, then the price of BCH may fall to the support of $294.3.
Bitcoin Cash (BCH) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Bitcoin Cash (BCH) in 2024.
BCH/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as the resistance and support levels of Bitcoin Cash (BCH) for 2024.
BCH Resistance & Support Levels
Bitcoin Cash (BCH) Price Prediction 2024 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Bitcoin Cash (BCH) are shown in the chart below.
BCH/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Bitcoin Cash (BCH) market in 2024.
Bitcoin Cash (BCH) Price Prediction 2024 — ADX, RVI
In the below chart, we analyze the strength and volatility of Bitcoin Cash (BCH) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
BCH/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Bitcoin Cash (BCH).
Comparison of BCH with BTC, ETH
Let us now compare the price movements of Bitcoin Cash (BCH) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs BCH Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of BCH is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of BCH also increases or decreases respectively.
Bitcoin Cash (BCH) Price Prediction 2025, 2026 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Bitcoin Cash (BCH) between 2025, 2026, 2027, 2028, 2029, and 2030.
Conclusion
If Bitcoin Cash (BCH) establishes itself as a good investment in 2024, this year would be favorable to the cryptocurrency. In conclusion, the bullish Bitcoin Cash (BCH) price prediction for 2024 is $713.2. Comparatively, the bearish Bitcoin Cash (BCH) price prediction for 2024 is $206.1.
If there is a positive elevation in the market momentum and investors’ sentiment, then Bitcoin Cash (BCH) might hit $1000. Furthermore, with future upgrades and advancements in the Bitcoin Cash ecosystem, BCH might surpass its current all-time high (ATH) of $4,355.62 and mark its new ATH.
This content was originally published by our partners at The News Crypto.