BCH/USD are trading at 696.15 and continue to move as part of a strong correction and a downward channel. The capitalization of the Bitcoin Cash cryptocurrency at the time of the publication of the forecast is $9,770,051,854. Moving averages indicate a short-term bearish trend for Bitcoin Cash. Prices went down from the area between the signal lines, which indicates pressure from the sellers of the asset and a potential continuation of the fall from the current levels. As part of the cryptocurrency rate forecast for February 24, 2021, we should expect an attempt to develop an asset value correction and test the resistance level near the 525.05 area. Where can we expect a rebound again and the continuation of the fall in the rate of the digital asset Bitcoin Cash with a potential target below the level of 335.05.
Bitcoin Cash Forecast and Analysis BCH/USD February 24, 2021
An additional signal in favor of reducing the quotes of the digital asset BCH/USD is a test of the trend line on the relative strength index (RSI). The second signal in favor of raising the BCH/USD quotes will be a rebound from the lower border of the ascending channel. Cancellation of the option to drop the Bitcoin Cash cryptocurrency rate on February 24, 2021 will be a strong growth and a breakdown of the 605.05 area. This will indicate a breakdown of the resistance area and continued growth in the cryptocurrency rate with a potential target above the 725.05 area. With the breakdown of the support area and closing of quotations below the level of 405.05, we should expect confirmation of the development of a downward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD February 24, 2021 suggests an attempt to test the resistance area near 525.05. Where can we expect a rebound and the continuation of the fall of BCH/USD to the area below the level of 335.05. An additional signal in favor of the fall of the Bitcoin Cash digital asset will be a test of the trend line on the relative strength index (RSI). Cancellation of the reduction option will be a strong growth and a breakdown of the 605.05 area. This will indicate a continued rise in the cryptocurrency with a potential target above the level of 725.05.
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