- The Bitcoin Cash price is above the 200-day EMA which showcases bullish momentum.
- The Bitcoin Cash price has dropped by 14% in January.
The Bitcoin Cash (BCH) price has performed positively and witnessed a bullish momentum of 170% in two weeks in June 2023. The trend was disturbed near the $320 hurdle and underwent a consolidation phase.
On a wider time frame, the Bitcoin Cash price has been in a consolidation phase and failed to sustain the $300 hurdle. At the same time, the BCH price has successfully defended the 200-day moving average, which indicates the presence of buyers.
The circulating supply of Bitcoin Cash is 19,628,794 BCH and the fully diluted market cap is $4,943,071,058. The maximum market supply of Bitcoin Cash is 21,000,000 BCH while the total supply is 19,628,794 BCH.
The Bitcoin Cash price is $235.08, reflecting a drop of 0.99% in the last 24 hours. The market capitalization of BCH is $4.61 billion and the last 24-hour trading volume is $175.17 million. In terms of volume, the BCH crypto ranks 37th in the cryptocurrency market.
Technical Analysis of Bitcoin Cash Over Daily Timeframe
On a daily time frame, the Bitcoin Cash price has been struggling between the 20-day and 200-day moving averages. The BCH price has shown a slow and steady gain since December and it has risen by taking support from the trendline.
If the Bitcoin Cash price fails to defend the trendline and sustains below the 200-day moving average, sellers may drag the price down to the $$180 mark in the next few weeks.
On the other hand, if the Bitcoin Cash price surpasses the 20-day moving average and sustains above it, buyers may become interested. Iif the BCH price rises to the $280 level, an uptrend can be expected.
Bitcoin Cash Price Forecast for Tomorrow and Next Week
Date | Price | Changes |
Feb 01, 2024 | $235.26 | 0.00% |
Feb 02, 2024 | $236.10 | 0.37% |
Feb 03, 2024 | $242.38 | 3.03% |
Feb 04, 2024 | $246.12 | 4.62% |
Feb 05, 2024 | $233.48 | -0.76% |
Feb 06, 2024 | $245.10 | 4.52% |
Feb 07, 2024 | $243.98 | 3.33% |
Based on the positive and negative tendencies of the previous 7 days, the price prediction for Bitcoin Cash for the next 7 days is estimated. These predictions for Bitcoin Cash indicate that on February 7, 2024, BCH will trade for $243.10, gaining 3.33%.
Bitcoin Cash Price Prediction FAQs
What is the BCH price prediction today?
The Bitcoin Cash price is predicted to fall by 1.19% to reach $234.55 by today.
What is the BCH crypto price prediction tomorrow?
Based on our analysis, the BCH price is predicted to fall by 1.51% to reach $230.79 by tomorrow.
What is the Bitcoin Cash price forecast for this week?
According to our analysis, the BCH price may perform positively and it is expected to range between $230.79 and 250.07 by the end of this week.
What is the Bitcoin Cash price prediction for 2025?
Our estimate for the price of Bitcoin Cash (BCH) is that it will fluctuate between $170.83 and $266.64 in the next year. If Bitcoin Cash hits the higher value target for 2025, it will rise by 13.35% and reach $266.64.
Conclusion
Based on the technical analysis and price predictions, it seems that the Bitcoin Cash price is currently in a consolidation phase and may experience fluctuations in the short-term. However, the positive trend in June 2023 shows that the cryptocurrency has the potential to perform well in the long term. As with any investment, it is important to do your own research and seek advice from a financial professional before making any decisions.
Technical Levels
Resistance levels: $277 & $305
Support levels: $230 & $180
Disclaimer
Investing in cryptocurrencies and other Initial Coin Offerings (“ICOs”) is especially volatile and speculative, and this article does not advise investing in cryptocurrencies or other ICOs. Since everyone is unique, a certified professional should be continually consulted before making any economic decisions.