The risk of a new bearish wave continues if the latest bitcoin cash (BCH) price cannot keep up over 9 and 21 days moving averages. BCH/USD is slowing down and looks to settle near the support level of $440. The support price will head to $420 if the coin price goes under these averages. It will give rise to a bullish movement. The Relative Strength Index indicates a possible downtrend if the bears go back and pull the coin under the lower level.
Market Focus on Downtrend
If this technical indicator continues over level 40 and the buyers are unable to push the bitcoin over 920 SAT resistance level, the price will focus on the downward trend. If it goes lower, support price is expected at 850 SAT level or lower. A rebound can push it over the moving averages. Any movement toward the top channel boundary can push the resistance to 1000 SAT or higher.
Moving Averages Remain a Popular BCH Prediction Tool
Average closing price of BCH in a given time period can be checked with a moving average. A BCH’s moving average for 12 days will be calculated by adding the closing prices of BCH over those 12 days. As per the prevailing prediction, the BCH value is expected to rise by 29% and touch $560 by January 4 in 2022. The current sentiment remains bearish while the greed and fear index shows extreme fear. Green days have been noticed at a 43% level in BCH. The volatility was at 8% in the last 30 days
When BCH is compared against the latest technological trends and innovations, it helps predict its price over a specified period of time.