BCH/USD are trading at 243.02 and continue to move as part of the correction and the upward channel. Bitcoin Cash cryptocurrency capitalization at the time of the publication of the forecast is $4 504 197 991. Moving averages indicate the presence of a short-term bullish trend in Bitcoin Cash. Prices are testing the area between the signal lines, which indicates pressure from buyers of the asset and potential growth already from current levels. As part of the cryptocurrency rate forecast for May 29, 2020, we should expect an attempt to develop an asset value correction and a test of the support level near the area of 235.05. Where again we should expect a rebound and continued growth of the Bitcoin Cash digital asset with a potential target above 265.05.
Bitcoin Cash Forecast and Analysis BCH/USD June 2, 2020
An additional signal in favor of the growth of quotes of the digital asset BCH/USD is the test of the trend line on the relative strength index (RSI). The second signal in favor of the rise in BCH/USD quotes will be a rebound from the lower border of the upward. Cancellation of the option to grow the Bitcoin Cash cryptocurrency rate on June 2, 2020 will be a fall and a breakdown of the area of 225.05. This will indicate a breakdown of the support area and a continued decline in the cryptocurrency rate with a potential target below the area of 195.05. With the breakdown of the resistance area and the closing of quotations above the level of 255.05, we should expect confirmation of the development of an upward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD June 2, 2020 implies an attempt to test the support area near the level of 235.05. Where can we expect a rebound and continued growth of BCH/USD to the area above the level of 265.05. An additional signal in favor of raising the digital asset Bitcoin Cash will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the area of 225.05. This will indicate a continued fall in cryptocurrency with a potential target below the level of 195.05.
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