BITCOIN CASH Price Prediction Today: Daily (BCH) Value Forecast – July 30
- The short-term is in a bullish trend while the medium-term outlook is in a range-bound market.
- Patience is required in trading the consolidation.
BCH/USD Medium-term Trend: Ranging
Supply zones: $500, $600, $700
Demand zones: $100, $50, $30
BCHUSD outlook in the medium-term is in a range-bound market. The bears had an upper hand during yesterday session as the market opens at $310.91. The pressure was much stronger with the coin dropping to $301.13 in the demand area before the close of the day.
Today’s 4-hour opening candle at $305.27 closed as a spinning top an indication of a reversal as the bulls stage a return with the break of the resistance at two EMAs crossover, BCHUSD rose to $318.10 within the range.
With price above the two EMAs and the stochastic oscillator signal pointing up at 78%. it suggests an upward momentum in price within the range in the medium-term.
BCHUSD is in consolidation and trading between $326.20 in the upper supply area and at $272.74 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.
BCH/USD Short-term Trend: Bullish
The cryptocurrency is in a bullish trend in its short-term outlook. The bulls bounce back after the rejection of downward price movement at $302.10 in the demand area after today’s opening.
The formation of two bullish doji further confirms the bulls’ takeover with the break at the two EMAs with a large bullish candle. BCHUSD soars to $318.10 in the supply area.
Minor drawdown creating a flag before the bullish continuation may occur.
With price above the two EMAs and the stochastic oscillator signal pints up at 78% it suggests bullish continuation. $325.00 in the supply area is the bulls initial target in the short-term.
Live Bitcoin Cash (BCH) Price:
1 BCH/USD =$1,167.5101 change ~ -1.09%
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