BCH

Jun 06 2021

Bitcoin Cash Price Prediction: BCH/USD May Dip Below $645

Bitcoin Cash Price Prediction – June 6

The Bitcoin Cash coin formed a support level at $634 yesterday; currently heading towards the same. The coin trades under selling pressure with no signs of recovery.

BCH/USD Market

Key Levels:

Resistance levels: $900, $1000, $1100

Support levels: $400, $300, $200

BCH/USD is currently trading sideways as the price remains below the 9-day and 21-day moving averages As shown on the daily chart, it is imperative that the $700 and $600 lines are necessary for immediate resistance and support levels as the value of the crypto market are shown in ranges. Therefore, a very slight tiny candle is forming towards the immediate support level. However, with regard to the position of the technical indicator, there have been no tangible changes so far as the market may continue to move sideways.

Bitcoin Cash Price Prediction: What is the Next Move for BCH?

Moreover, as the Bitcoin Cash price moves sideways, the bears may be coming back slightly. For now, BCH/USD is currently facing critical support at the $655 level within the descending channel. A break below this barrier is likely to produce a huge red candle to the downside, marking supports at $400, $300, and $200.

Moreover, a bullish step back is likely to roll the market back to $700 resistance with a possible above the 9-day and 21-day moving averages to $900, $1000, and $1100 resistance levels, which could establish a new high for the market. Nevertheless, traders can see that the Relative Strength Index (14) is moving around 40-level due to the indecision in the market.

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When compares with Bitcoin, the performance of BCH has been very low due to indecision in the market movement which is causing the market to move sideways. Meanwhile, if the price falls below the lower boundary of the channel, sellers may continue to pose an additional threat for buyers to reach the support level of 0.017 BTC where the nearest target is located.

However, for a positive upsurge, the coin may cross above the 9-day and 21-day moving averages to hit the resistance levels of 0.023 BTC and above. On the other hand, a negative spike could retest the support at 0.016 BTC before a possible slip to 0.015 BTC and below. More so, the trading volume is fading away as the RSI (14) moves in the same direction, indicating sideways movement.

Bitcoin Cash Price Prediction: BCH/USD May Dip Below $645

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May 31 2021

RenVM Latest Integration Now Allows Fantom to Empower Users With Faster Bitcoin Transactions and Lowest Fee

Here’s the good news for crypto-assets holders on major Blockchain platforms other than Fantom. The latest upgrade of RenVM’s is bringing them under the Fantom’s ecosystem, allowing super-fast and the lowest fee transactions.

Formerly, users who belonged to other blockchains could not take advantage of a reduced fee, fewer wait times, and low transaction fees that a Fantom’s user normally enjoys. But, with the recent integration of Fantom’s RenVM, users from different platforms are allowed to directly store their assets to Fantom with the assistance of Redbridge and significantly take up benefits of the Fantom ecosystem.

Not only this, but now users can also perform deposit and withdrawal processes regarding their crypto assets to Fantom blockchain without having to run through numerous exchanges. With the development of RenBridge, DeFi fanatics can now expand and trade practically all their assets across different blockchains to Fantom and carry out whatever exchanges are crucial without relying on a centralized exchange.

The upgrade will aid BTC, BCH, ZEC, and DOGE right from the beginning. However, others will be added shortly as the integration improves and expands. This will open more doors for users to utilize Fantom to carve their crypto portfolio as they want and make it work for them. More significantly, users will find their portfolio comes around to be quicker, more competitive, and more adaptive to shifting circumstances and market conditions.

This also indicates a rise of a completely new phase of growth for Fantom as a whole. With new partnerships and developments, Fantom will come to be an ever more dominant platform in the world of cryptocurrency. As Fantom refines more alliances and increases compatibility with additional categories of assets, its utility, dexterity, and all-around significance will only improve for portfolio holders.

Native REN assets that’ll be accessible from now on at Fantom’s blockchain are:

Bitcoin (BTC) -$renBTC
Bitcoin Cash (BCH) – $renBCH
DigiByte (DGB) – $renDGB
Dogecoin (DOGE) – $renDOGE
Filecoin (FIL) – $renFIL
Terra (LUNA) – $renLUNA
Zcash (ZEC) – $renZEC

To take advantage of this new advancement, users are needed to add the Fantom Network to their MetaMask. Then users will be eligible to link their various currencies and start making moves. As this integration is still in its early phase, new improvements will be coming. You can expect to find Varen be, Curve Finance, and BadgerDAO to be added soon.

Conclusion

As Fantom proceeds to broaden its toolbox, giving crypto holders from different blockchains the power to make the best possible choices for their portfolio.

This is a shiny new development in the cryptocurrency era, and it’s just the start. Stay tuned for new assets as they become viable with the upcoming integration.

To get instant updates about cryptocurrency and to learn more about online cryptocurrency Certifications, check out Blockchain Council.

RenVM Latest Integration Now Allows Fantom to Empower Users With Faster Bitcoin Transactions and Lowest Fee

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May 23 2021

Bitcoin Cash Price Prediction: BCH/USD Down By 20.54%

Bitcoin Cash Price Prediction – May 23

The Bitcoin Cash price prediction shows a sudden dip below $500 today as the coin is ready to enter deeply into the negative side.

BCH/USD Market

Key Levels:

Resistance levels: $900, $1000, $1100

Support levels: $190, $90, $-100

BCH/USD is currently in a downtrend as bears dominate the entire cryptocurrency landscape. At the time of writing, BCH/USD is hovering below the 9-day and 21-day moving averages as the trend has a bearish inclination, which may likely touch the support at $300. More so, the technical indicator has remained bearish as the Relative Strength Index (14) continues to dig deeper into the oversold region.

Next Direction for Bitcoin Cash?

As the daily chart reveals, the best bulls can do is to defend the support at $300 and focus on pulling towards $700. A few days ago, the Bitcoin Cash price has been following a downward movement as the sharp drops affected the buyers from an attempted recovery above $650.

As buying pressure increases, the price may break above the 9-day moving average and reach the resistance at $850. While trading at that level, a bullish continuation could reach the resistance levels of $900, $1000, and $1100 respectively.

In other words, if the coin decides to remain on the negative side, a minimum swing could bring the price to a $300 level. Exceeding this level could take the bears to $190, $90, and $-100 levels by crossing below the lower boundary of the channel.

Against Bitcoin, the daily chart reveals that bears continue to push the price towards the south. The most recent negative sign suggests that the trend could continue to follow the downtrend as buyers were unable to push the price above 9-day and 21-day moving averages.

However, as the technical indicator Relative Strength Index (14) slides below the 40-level, it may likely cross into the oversold region and a bearish continuation could lower the price to the support levels of 0.012 BTC and below, but once it moves out of this zone, the market price may likely begin an upward trend to push the Bitcoin Cash price towards the resistance level of 0.020 BTC and above.

Bitcoin Cash Price Prediction: BCH/USD Down By 20.54%

Source

May 19 2021

Price analysis 5/19: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, BCH, LTC, UNI

Bitcoin’s (BTC) massive bloodbath on May 19 resulted in panic selling across the board. Several major altcoins nosedived between 25% to 50% during the day. The extent of the fall shows that many large traders may have dumped their positions and leverage traders may have been roasted.

In a report to its clients on Tuesday, JPMorgan Chase analysts pointed out that institutional investors were abandoning Bitcoin in favor of gold. Considering the volatility ratio of Bitcoin to gold, JP Morgan believes Bitcoin’s current fair value is $35,000.

*Daily cryptocurrency market performance. Source:* *Coin360*

The massive fall today is likely to scare several institutional investors and delay their entry into the space. Although there will be periodic rebounds and sharp bear rallies, the next bull run may not start in a hurry.

Galaxy Digital founder Mike Novogratz also told CNBC that the decline feels like capitulation and this breakdown may not be fixed quickly.

After the sharp decline and the subsequent rebound, let’s analyze the charts of the top-10 cryptocurrencies to determine the support and resistance levels.

BTC/USDT

Bitcoin’s close below the neckline on May 17 completed the bearish head and shoulders pattern. The buyers attempted to push the price back above the neckline on May 18 but failed as seen from the long wick on today’s candlestick.

The selling picked up momentum today and turned into capitulation as the BTC/USDT pair plunged to $29,257.95, exceeding the H&S pattern target at $31,653.73. This fall has pushed the relative strength index (RSI) deep into the oversold territory for the first time since March 2020.

Generally, after such a sharp fall, a pullback can be expected because traders who initiated short positions at higher levels may book profits and aggressive bulls may have purchased near the critical support at $28,850.

The long tail on the candlestick suggests strong buying on dips but the rise from the current levels may not be easy because the bulls are likely to encounter massive supply at the neckline. If the price turns down from this resistance, the pair could consolidate in a large range between $28,850 and $44,000 for the next few days.

ETH/USDT

Ether (ETH) broke below the 50-day simple moving average ($2,760) and the 61.8% Fibonacci retracement level at $2,467.78 today. This resulted in panic selling and the biggest altcoin plummeted below the 78.6% retracement at $1,949.41 to hit an intraday low at $1,801.60.

However, a minor positive is that buyers have aggressively bought the dip as seen from the long tail on the candlestick. If the bulls can sustain the price above the 50-day SMA, the ETH/USDT pair could rally to the 20-day exponential moving average ($3,370). This move is likely to attract selling from the bears because the sentiment has turned negative.

If the price turns down from the 20-day EMA, the pair may drop to the 50-day SMA. If this level holds, the pair may consolidate between the moving averages.

On the other hand, if the bears sink the price below the 50-day SMA, the pair may gradually drop to $1,801.60. If this level holds, the pair could remain range-bound for a few days. However, if the bears sink the price below $1,801.60, the down move may reach $1,289.09.

BNB/USDT

The buyers defended the $480 support on May 17 and 18 but the incessant selling today dragged Binance Coin (BNB) to $280. With today’s decline, the altcoin came close to a 100% retracement of the bull run that started from $233.81 on March 26.

The moving averages are on the verge of a bearish crossover, indicating the trend has changed from bullish to bearish. Any relief rally from the current level is likely to face stiff resistance at $428 and again at $480.

If the price turns down from either level, the BNB/USDT pair may retest $233.81. If this level also gives way, the next support is at $186.10. The bulls are likely to defend this zone aggressively.

ADA/USDT

Cardano (ADA) formed an inside-day candlestick pattern on May 18, which showed indecision among the bulls and the bears. The uncertainty resolved to the downside today, resulting in a massive long liquidations by the bulls.

The capitulation pulled the ADA/USDT pair down to $0.95 today, its lowest level since April 23. However, the bulls have purchased the dip aggressively as seen from the long tail on the day’s candlestick.

If the bulls can sustain the price above the 20-day EMA ($1.74), it will suggest strong demand at lower levels. The pair may then consolidate between $1.48 and $2 for a few days. Conversely, if the price turns down and breaks below $1.48, the pair could gradually drop to $1.

DOGE/USDT

Although Dogecoin (DOGE) sustained above the 20-day EMA ($0.46) for the past few days, the bulls could not achieve a strong rebound. This showed a lack of demand at higher levels.

The DOGE/USDT pair broke below the 50-day SMA ($0.30) and hit an intraday low at $0.21. The bulls have purchased the dip aggressively as seen from the long tail on the day’s candlestick.

If the bulls can sustain the price above $0.35, the pair could rise to the 20-day EMA. This level is likely to attract selling and the pair may then remain range-bound between the moving averages for a few days.

XRP/USDT

XRP pierced the resistance line of the symmetrical triangle on May 18 but the long wick on the candlestick suggests the bulls could not sustain the breakout. The price reversed direction today and plummeted below the support line of the triangle, which may have resulted in huge long liquidations.

However, the long tail on today’s candlestick suggests the bulls purchased the dip to the critical support at $0.88. The buyers will now try to push the price back into the triangle but they are likely to face stiff resistance at the moving averages.

If the price turns down from the 50-day SMA ($1.31), the XRP/USDT pair could again gradually drop to $0.88. If the support holds, the pair may consolidate between $1.20 and $0.88 for a few days.

DOT/USDT

Polkadot (DOT) attempted to take support at the moving averages on May 18 but the demand fizzled out at $42.59. The altcoin turned down today and deep dived to $18, the lowest level since Feb. 3.

If the price closes below $26.50, the bears may continue to pound the DOT/USDT pair and retest the $18 support.

On the contrary, if the relief rally sustains above $26.50, it will suggest the capitulation may be over. The pair could then gradually move up to $32.50 and then to the moving averages.

If the price turns down from the overhead resistance but stays above $26.50 during the next decline, a range-bound action may ensue.

BCH/USDT

Bitcoin Cash (BCH) attempted at recovery on May 18 but could not rise above the 20-day EMA ($1,134). The long wick on the day’s candlestick showed that traders are selling on rallies to stiff resistance levels.

The selling picked up momentum after the BCH/USDT pair broke below $940 and the next critical support at $686.75. The pair finally hit an intraday low at $473.84, its lowest level since March 26.

Aggressive bulls seem to have purchased at lower levels, resulting in a strong recovery as seen from the long tail on the candlestick.

However, the relief rally is likely to hit a hurdle near $940. If the price turns down from this resistance, the pair could consolidate in a large range between $442.96 and $940 for the next few days.

LTC/USDT

The bulls defended the 50-day SMA ($272) on May 17 but they could not extend the recovery above the 20-day EMA ($299) on May 18. This suggests that traders sold their Litecoin (LTC) positions during the relief rally.

Today, the selling resumed and the LTC/USDT pair plunged below the 50-day SMA and the support line of the broadening wedge pattern. This may have resulted in panic selling, dragging the price down to $143.57, the lowest level since Feb. 05.

If the price closes below the support line, the bears may resume selling and a retest of $143.57 may be on the cards. Conversely, if the price climbs back into the wedge, the pair may rise to the moving averages where it is again likely to encounter selling from the bears.

UNI/USDT

Uniswap (UNI) broke below the support line of the ascending channel on May 17 but the bulls pushed the price back into the range on May 18. However, the buyers could not clear the hurdle at the 20-day EMA ($36), indicating selling at higher levels.

The UNI/USDT pair turned down today and broke below the support line of the channel. The selling picked up momentum after the $25.52 support cracked. This may have caused long liquidation, resulting in a drop to an intraday low at $16.

However, the positive sign is that the bulls purchased this dip and are attempting to start a relief rally. This rally may face stiff resistance at $30 and then again at the moving averages. If the price turns down from this resistance, the pair may drop to $25.52 and remain range-bound for a few days.

Alternatively, if the price closes below $25.52, the bears may try to build on their advantage and sink the price to $16.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Price analysis 5/19: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, BCH, LTC, UNI

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Apr 27 2021

Bitcoin Cash Price Prediction: BCH/USD Now Gets Northbound Pushes from the Dip of Price Correction

BCH Price Prediction – April 27
The BCH/USD market valuation has begun to get some pushes from a low support line of $700 during the recent price downward correctional moves.

BCH/USD Market
Key Levels:
Resistance levels: $1,000, $1,200, $1,300
Support levels: $700, $600, $500

BCH/USD – Daily Chart
Taking a deep look at the BCH/USD daily market chart, it shows that most of the time that a downward move takes up space, price uses to find a support level around its smaller SMA trend-line. Though, at times a short-lived breakdown of it as well plays out in the process. The 50-day SMA indicator is yet underneath the 14-day SMA trend-line with the bullish trend-line drawn closely to face an upward direction to now indicate immediate support at the $800 line. The Stochastic Oscillators are dipped in the oversold region trying to open the hairs towards the north. That signifies the possible return of an uptrend in the near time.

Will BCH/USD move backward to revisit its previous $700 low value?
The BCH/USD market point of $700 has come to be the vital line in the determination of ongoing upswing. And, yet, the current upside trading position has not been taken far away from the trading zone. However, strong indications are signaling the potential of seeing more movements to the north in the near trading sessions.

It would be more technically accepted that bears should stay away from placing any counter order against the already established uptrend. Therefore, it would make a whole lot of sense to wait for rejection possibly in between $1,100 and $1,200 levels to occur at a later session to be able to reconsider the sell order entry. However, if price holds strong between those zones, it could lead to a consolidation that may eventually nullify the bears’ position further.

BCH/BTC Price Analysis
In comparison, BTC is still struggling retard the appreciation moving spree of BCH until the present time of writing. In attestation to that, a series of variant higher lows has surfaced a bit over the smaller SMA trend-line. The 50-day SMA indicator is underneath the 14-day SMA. The Stochastic Oscillators have moved down into the oversold region to show the weakness of the counter trading tool in its wake to resist the power of the base crypto. As a result, BCH will still dominate the space against BTC for a while.

Bitcoin Cash Price Prediction: BCH/USD Now Gets Northbound Pushes from the Dip of Price Correction

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