https://ift.tt/9RESdPT Cash Price Prediction for Today, April 20: BCH/USD Price Hangs Around $340

The Bitcoin Cash price prediction upsurge astounds the intraday traders as the coin indicates a bit of the immediate resistance level.

BCH/USD Market

Key Levels:

Resistance levels: $400, $420, $440

Support levels: $280, $260, $240

BCH/USD is moving sideways as the coin could rise towards $350. Following the recent price drop, Bitcoin Cash is currently trading within the 9-day and 21-day moving averages. However, a break above the 21-day moving average may likely produce a huge green candle to the upside, and this may cause the Bitcoin Cash to reach the resistance levels at $400, $420, and $440 levels.

Bitcoin Cash Price Prediction: Bitcoin Cash Price May Jump to the North

The Bitcoin Cash price seems to follow the same direction; it has been showing an uneven movement with several rises and falls. BCH/USD has not been able to maintain a consistent bullish run as the Relative Strength Index (14) moves above 50-level, a precise bullish cross might reveal more buy signals for the market, and it may continue to show signs of an upward movement in the market soon.

On the contrary, a bearish step back is likely to roll the market back below the 9-day moving average with a possible break down to the support levels of $280, $260, and $240 which could establish a new low for the market. More so, the trading volume is rising slowly as this is giving a sign of an upcoming big move.

When compared with Bitcoin, the BCH bears are showing a strong commitment to bringing the market price back below the 9-day and 21-day moving averages. Following the recent negative sign, the Bitcoin Cash price may go down if the sellers put more pressure on the market further.

However, as the Relative Strength Index (14) is moving above 50-level, should the buyers hold the current price of 819 SAT, the Bitcoin Cash price may continue with the upward movement and possibly cross the upper boundary of the channel to touch the resistance level of 930 SAT and above but sliding below the moving averages could lower the price to the support level of 700 SAT and below.

Looking to buy or trade Bitcoin Cash (BCH) now? Invest at eToro!

68% of retail investor accounts lose money when trading CFDs with this provider

Read more: