Most major altcoins are battling bearish trends that are currently capping their gains. Bitcoin Cash [BCH] is also trading in the red, but the decline isn’t too damaging yet. In the last seven days, the coin has gained 7 percent in value.
The virtual currency had earlier found support at $554.5 and attempted to rise further. However, the crypto then dropped to as low as $549.6. Though BCH hasn’t declined too much, selling pressures continue to weigh on the coin. The altcoin is attempting to break out from the current resistance level, noted at $566.9.
The MACD, at the time of writing, indicated that BCH was in the bullish zone, but further declines could drag it into bearish territory. The 100 EMA line showed that the coin was in an uptrend. The crypto is exhibiting a significant trading range of $544.6-$570.1. As of 2141 GMT, the coin had edged 1.5 percent lower against the U.S. dollar to trade at $557.6.
At the time of writing, the digital currency had slipped 1.1 percent against BTC. Currently, one BCH is equivalent to around 0.079 BTC.
Bitcoin Cash [BCH] Price Prediction 2018, 2020
- According to Smartereum, the one-year forecast for the virtual currency is around $6,700, while the five-year forecast is around $24,600.
- Tradingbeasts has forecast that the coin could reach $1,930-$2,838 by the end of this year. Profitconfidential, on the other hand, expects the crypto to scale to around $7000 by the end of 2018.
- Longforecast has predicted that the digital asset will close the year at $412 and hit $1,150 by the end of 2020.
Bitcoin Cash [BCH] Latest Updates
- Bitcoin Cash [BCH] is emerging as the favourite cryptocurrency for online poker players. In order to safeguard themselves from the eyes of law, gamblers are more inclined towards Bitcoin Cash [BCH] than any other digital currency.
- Cobra, co-owner of Bitcointalk and Bitcoin.org, recently said it would introduce a “safe and reliable” implementation of the Bitcoin Cash protocol – the Cobra Client hard fork. Cobra proposed the upgrade in response to the ongoing dispute between Bitcoin Cash ABC and nChain regarding BCH’s upcoming hard fork. The disputes could possibly trigger a split in the BCH camp.
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