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Bitcoin Cash (BCHUSD) Remains Strongly Bullish at the $199.00 High Value

Johnathon Fox
06/26/2023 | UPDATED ON: 06/26/2023

Bitcoin Cash (BCHUSD) Price Forecast: June 26
The BCHUSD pair at the moment is in a strong bullish momentum at the $199.00 high value trying hard not to fall by resisting sellers. Should the bulls increase their pressure, the resistance level of $199.00 may not hold and it may extend to a $200.00 upper high level and beyond.

Key Levels:
Resistance Levels: $160.00 $170.00, $180.00
Support Levels: $100.00, $90.00, $80.00
Bitcoin Cash (BCHUSD) Remains Strongly Bullish at the $199.00 High Value
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 in the upper resistance area of the market indicating a strong uptrend.

The bulls were able to push the cryptocurrency up to the $194.55 resistance value with a long bullish candle during yesterday’s session and have enhanced the price to stay in green at the upper resistance level in its recent high.

The coin price on the daily chart today is currently trading at the$199.00 correction value at the upper resistance area.

This affirms the highly bullish impact of cryptocurrency. Further, the rising prices reclaimed more confirmation for a bullish recovery. This breakout should offer buyers another setup stone to prolong the bullish recovery.

Next, the price of Bitcoin Cash will rise further as shown by the stochastic indicator which is pointing up; this means that more upsides are certain which might possibly extend the price of BCHUSD to the $200.00 upper resistance level in the days ahead in its long-term outlook.

BCH (USD) Medium-term Trend: Bullish (4H Chart)
Due to the high bullish impact, the market value of Bitcoin Cash in the medium-term time frame (4H) is seen above the moving averages at the upper resistance trend level. This means that the pair is in a strong bullish trend.
Bitcoin Cash (BCHUSD) Remains Strongly Bullish at the $199.00 High Value
The high bullish pressure on the cryptocurrency at the $194.55 value during the last session has sustained the trend of the coin market above the supply levels in its recent high.

The coin price at the $195.84 supply value which is above the two EMAs as the upper resistance area as the 4-hourly chart opens today indicates a strong uptrend and a more bullish impact on the coin. Thus, staying above the supply trend levels will make it capable for the coin price to rise further.

In addition to this, the BCHUSD price is showing an upward direction on the daily signal. This implies that the coin price may likely increase further and in this case, the coin price might remain strongly bullish to hit the $200.00 upper high value in the coming days in its medium-term view.

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About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

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