BCH Forecast: When is the rise???🤔🤔🤔
Bitcoin Cash may face difficulties in its attempts to grow, but market conditions indicate that BCH is ready to recover. The $344 mark is the next major support line, coinciding with the 100-day exponential moving average (EMA).
If the above conditions really play into the hands of the price movement, the token could bounce back from $344 and return to $501, breaking through the $400 mark, which coincides with the 50-day EMA. This would stabilize the correction.
However, if broader market trends weigh heavily on the coin and the 100-day EMA ceases to act as a base, then a break below $300 may not be possible. The Relative Strength Index (RSI) has already dipped into the bearish zone, indicating a possible price drop.
In this case, BCH may test the support level of $297 and the bullish scenario will prove unsustainable.
