BCH
Bitcoin Cash (BCH) has gained 143% in six weeks, surging from $260 to over $600 before experiencing a correction. On the weekly chart, BCH price has shown an evening star pattern and is struggling to stay above $500.
Recently, BCH price retested the key level of $350 or the 50-day exponential moving average (50D EMA). However, strong buying pressure quickly drove BCH price to rebound. This successful reversal reflects huge underlying demand and foreshadows the formation of a morning star pattern from a weekly golden cross.
As the bullish momentum continues to increase, BCH price is currently targeting the $600 level. The market momentum is expected to continue to increase and the price of this altcoin is expected to touch the $700 threshold.
