Bitcoin Cash Price Prediction – How Much Will BCH Be Worth in 2021?
- Bullish BCH price prediction ranges from $753.4 to $1624.9.
- BCH prices might also reach $1638.2 soon.
- BCH bearish market price prediction for 2021 is $203.1.
In Bitcoin Cash (BCH) price prediction 2021, we use statistics, price patterns, RSI, and much other information about BCH to analyze the future movement of the cryptocurrency.
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 are not satisfied with the general direction of Bitcoin’s scalability.
Current Market Status of Bitcoin Cash (BCH)
According to CoinGecko, the Bitcoin Cash price is trading at $676.27 with a 24-hour trading volume of $5,118,023,970, at the time of writing. However, BCH has increased by 7.1% in the last 24 hours.
Moreover, BCH has a circulating supply of 18,831,149 BCH. Currently, Bitcoin Cash trades in cryptocurrency exchanges such as Binance, OKEx, FTX, CoinTiger, and Upbit.
Bitcoin Cash (BCH) Price Prediction 2021
Bitcoin Cash (BCH) holds the 13th position on CoinGecko right now. BCH price prediction 2021 explained below with a weekly time frame.
The descending triangle is most commonly seen during downtrends and is often interpreted as a bearish signal. The descending triangle pattern is the reverse of the ascending triangle pattern.
As the price continues to make lower lows, descending triangles indicate to investors and traders that buyers are less aggressive than sellers. Contrary to popular belief, a descending triangle can be bullish or bearish. A regular descending triangle pattern, traditionally regarded as a bearish chart pattern. A descending triangle pattern, on the other hand, can be bullish.
Currently, BCH is waving at $623.2. If the bullish trend continues, BCH will follow the pattern where the price of BCH will reach $1638.2 following the uptrend. In contrast, if the trend reverses, then the price of BCH might fall to $373.5.
Bitcoin Cash (BCH) Support and Resistance Level
The below chart shows the support and resistance level of BCH.
From the above chart, it observed that the following are the resistance and support levels of BCH.
- Resistance Level 1 – $753.4
- Resistance Level 2 – $1224.2
- Resistance Level 3 – $1624.9
- Support Level 1 – $519.2
- Support Level 2 – $378.7
- Support Level 3 – $203.1
The chart depicts the bullish performance of BCH over the previous month. However, this trend will continue to reach a resistance level at $1624.9 soon. Even more, if the trend is reversed then the BCH might fall to $203.1 presenting a bearish signal.
Bitcoin Cash (BCH) Average Directional Index (ADX)
Let us now look at BCH’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).
Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it frequently combined with directional indicators.
The above chart represents the ADX of BCH. Currently, Bitcoin Cash lies in the range at 25.3, so it indicates a strong trend. This shows that the price of ADX can go bullish in the future.
Conclusion
Bitcoin Cash is one of the cryptos which is great for long-term investment. In addition, BCH price prediction is bullish for the short-term. It has a good chance of reaching $3785.82 by the end of this year. However, this will only happen if many previous psychological barriers are broken.
Furthermore, with the advancements and upgrades on the Bitcoin Cash ecosystem, the performance of BCH would rise reaching $1224.2 very soon. But, it might also reach $1638.2. if the investors believe that BCH is a good investment in 2021.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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