BCH targets $120 level, TAMA buying continues

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Bitcoin Cash price forecast will continue to recover from the monthly low of $106 as the price remains above the 9-day moving average.

Bitcoin Cash Statistics Data:

  • Bitcoin Cash price now – $117.3
  • Bitcoin Cash market value – 2.2 billion dollars
  • Bitcoin Cash distribution supply – 19.1 million
  • Total supply of Bitcoin Cash – 19.1 billion
  • Bitcoin Cash Coinmarketcap Rank – #30

BCH/USD market

Key steps:

Resistance levels: $145, $155, $165

Support levels: $95, $85, $75

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BCH/USD is in the hands of the bulls as the coin rises to its 9-day and 21-day moving averages. However, the bulls are likely to continue their upward move leading to a retest of the broken resistance level at $130. The relative strength indicator (14) of the technical indicator is likely to cross above the 50-level, with the signal line pointing north for more bullish signs.

As Tamadoge’s buying spree continues, Bitcoin Cash may see further increases.

The price of Bitcoin Cash is currently moving towards the 21-day moving average at the price level of $117.31. Therefore, if the bulls continue their bullish move, BCH/USD is likely to break above the 9-day and 21-day moving averages, which could take the coin to the $145, $155 and $165 resistance levels.

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On the other hand, if the bears re-enter the market, any strong selling pressure could drag the price below the lower boundary of the channel. However, if Bitcoin Cash trades below the daily opening price of $112, a bearish continuation could bring the price to $95, $85 and $75 support.

On BTC, the market is retracing above the 9-day and 21-day moving averages. At the time of writing, the price of Bitcoin Cash has not been able to move higher, but it is currently trading at 6013 SAT. If Bitcoin Cash shows a more bearish rally, it may meet resistance at 7000 SAT and above.

BCHBTC – Daily Chart

Looking at the daily chart, traders can say that when the technical indicator Relative Strength Index (14) crosses above the 50-level, the market may begin to follow an upward trend. More importantly, BCH may head towards the upper boundary of the channel as indicated by the daily chart, but if the coin falls below the lower boundary of the channel, it may find support at 5000 SAT and below.

Tamadoge, an ERC-20 token, will also have an initial DEX offering (IDO) on Uniswap. TAMA is set to list at $0.03. As the Tamadog presale sold out more than expected, the team is said to be moving forward with all details of the TAMA crypto exchange in the coming days.

Tamadoge – Meme Play to earn coins

Tamadoge logo
  • Get TAMA in battles with Doge’s pets
  • Sealed Supply of 2 Billion, Token Burn
  • Presale collected 19 million dollars in two months
  • Upcoming ICO by LBank, Uniswap

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