Bitcoin Cash Price Prediction: BCH Rallies 70% in 7 Days – Can Bitcoin Cash Overtake Bitcoin?
The price of Bitcoin Cash (BCH) has experienced a remarkable rally of 70% within just seven days, igniting speculation about its potential to surpass Bitcoin.
Currently holding near the $300 level, BCH has already completed a significant 78.2% Fibonacci retracement, adding further interest to its upward trajectory.
This Bitcoin Cash price prediction will explore this impressive rally's technical outlook and indicators.
The current price of Bitcoin Cash (BCH) stands at $296, accompanied by a 24-hour trading volume of $2.4 billion.
BCH has experienced a 4% decline in the last 24 hours, but an impressive 70% surge over the past seven days.
With a live market cap of $5.7 billion, Bitcoin Cash holds the #14 ranking on CoinMarketCap.
Its circulating supply consists of 19,436,669 BCH coins, with a maximum supply capped at 21,000,000 BCH coins.
Bitcoin Cash (BCH) has achieved a significant breakthrough, surpassing the key 61.8% Fibonacci retracement level at $270, signaling a bullish trend in its price trajectory.
On the daily chart, the presence of a robust bullish candlestick pattern confirms strong buying interest among investors, propelling BCH's price toward the $330 level.
However, a close below this level could potentially trigger a bearish correction for BCH.
It's important to be aware that minor corrections might occur, leading to a retracement toward the $244 level.
The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators on the daily chart are currently in the overbought zone, indicating that the bullish momentum may be nearing exhaustion.
This creates an opportunity for sellers looking to profit from a potential correction below the $330 level, with attractive selling points at target
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