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Bitcoin Cash Price Prediction: Long-term (BCH) Value Forecast – June 1

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BCH Version of BTC Lightning Network Torch Passing Commences, Many View SLP As Being Distinctive

BCH Version of BTC Lightning Network Torch Passing Commences, Many View SLP As Being Distinctive

  • On the upside, if the bulls break the $480 price level, the crypto’s price will rise to reach the previous high of $ 520.
  • From the Fibonacci retracement level, the crypto’s price is in the continuation zone of the Fib.retracement level.

BCH/USD Long-term Trend: Bullish

  • Resistance levels: $440, $480, $520
  • Support levels: $400, $360, $320

The BCH/USD pair is in a smooth uptrend. The crypto’s price is trending above the 12-day EMA. Each time the price retraces, it falls above the 12-day EMA and then continues its upward move. The BCH market reached a high of $456 price level but the bulls were resisted after testing the $480 resistance level.

On May 31, the price fell to the support of the 12-day EMA which indicates that price is likely to retest the $480 resistance level. From the Fibonacci retracement level, the crypto’s price is in the continuation zone of the Fib.retracement level. On the upside, if the bulls break the $480 price level, the crypto’s price will rise to reach the previous high of $ 520.

On May 1, the BCH price has an opening balance of $265 and a closing balance of $443. This indicates that the BCH price has appreciated by 67% of its capitalization in the month of May 2019. The stochastic is in the overbought region but below the 80% range which indicates that the price of BCH is in a bearish momentum and a sell signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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