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Bitcoin Cash Price Prediction: Will the BCH Price Fall to 0?

 


A chart could hardly look more bearish. The Bitcoin Cash course is in free fall – with no end in sight.


Bitcoin Cash has been in a downtrend without a break for 13 months

The Bitcoin Cash price has been in a strong downtrend since the local high in May 2021. The last 13 months have even passed without a bullish break. Nevertheless, the histogram of the MACDs in the monthly chart has been bullishly ticking higher for several months.


The RSI is moving sideways with a slight bias towards oversold regions.

In addition, the MACD lines in the 4H chart are bullishly crossed and the histogram of the MACDs is ticking bullishly higher.

The BCH price currently still has downside potential of around 10% to its year low of around USD 87.2. If BCH breaks this support, the BCH price could correct to the all-time low of around USD 73.5. That implies downside potential of around 24%.

In the weekly chart, the MACD lines are still crossed bullishly, but the histogram of the MACDs has been ticking bearishly lower for several weeks. The RSI borders on oversold regions, but gives neither bullish nor bearish signals.

The daily chart shows that the BCH price is in a bearish price pattern. If the BCH price breaks out of the descending triangle in a bearish manner, BCH could return to the all-time lows around USD 73.5. A bearish breakout of the price pattern occurs with a break of the current support around USD 98.


If BCH falls below, BCH could possibly correct to the next Fib level around $67. That implies downside potential of around 31%.


In addition, the MACD histogram is ticking bearish lower and the MACD lines are also bearish crossed over. Here, too, the RSI borders on oversold regions, but gives neither bullish nor bearish signals. In addition, the EMAs are in a death cross, confirming the bearish trend in the short to medium term.

In the last few hours, the BCH price could still rise. It is thus encountering the next significant Fib resistances at around USD 98.4 and USD 100.5.


Additionally, MACD histogram is ticking bullish higher while MACD lines are on the verge of a bullish crossover. Meanwhile, the RSI is neutral.


Against BTC, the BCH price is also in a strong downward movement

Bitcoin Cash has always been in a strong downtrend against Bitcoin. However, the MACD lines on the monthly chart are still crossed bullishly.


BCH finds the next significant support between around 0.00492 BTC and around 0.00587 BTC. On the upside, Bitcoin Cash is encountering the next significant Fib resistances at around 0.01411 BTC and around 0.02 BTC.


DISCLAIMER

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.

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