Bitcoin Cash (BCHUSD) Price Forecast: July 4
BCHUSD pair reaches its buying time at the $308.71 price level as the crypto is currently facing high pressure from the bulls. Conversely, if the coin prices sustain above the level of $329.71, the bulls’ trend would continue upward and possibly hit the $400.00 upper high level.
Key Levels:
Resistance Levels: $200.00 $250.00, $300.00
Support Levels: $120.00, $110.00, $100.00
BCH (USD) Long-term Trend: Bullish (Daily Chart)
BCHUSD remains strongly bullish on the higher time frames. This is clear as we can see the prices trading above the supply trend lines approaching the upper resistance area of the market indicating a strong uptrend.
The sustained pressure from the bulls at the $329.71 support level in the past few days has contributed to its bullishness in recent times.
The bulls increase their pressure and the price of Bitcoin Cash increase accordingly to the resistance level of $308.71 as the daily chart opens today.
Staying above the moving averages makes it capable for the crypto to accelerate it’s rising to the upside and also enables the buy traders to dominate the market.
Next, more upside is possible as shown by the price indicator pointing up; it means that the buying pressure may likely continue and the market value of BCHUSD could reach a key level at $400.00 at the upside and beyond in the long-term outlook.
BCH (USD) Medium-term Trend: Bullish (4H Chart)
The impulse move from the bulls has enhanced the Bitcoin Cash price to remain bullish in its medium-term outlook. The price at the moment can be seen trading above the two EMAs. This means that the coin is in a bullish trend zone.
The market value of BCHUSD jumps into bullish territory, indicating that positive sentiment is returning to the market.
The buy traders pushed the coin up to a $296.47 high level shortly after the opening of today’s 4-hourly session.
Hence, the price will continue to go higher if all the current support holds in place. Also, the market has reached the oversold region of the daily stochastic, which means that the price will move further up to a higher level and $400.00 might be surpassed soon in the medium-term time frame.
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