BCH/USD are trading at 236.03 and continue to move as part of the correction and the formation of the «Triangle» model. Bitcoin Cash cryptocurrency capitalization at the time of the publication of the forecast is $4 380 097 481. Moving averages indicate the presence of a short-term bearish trend in Bitcoin Cash. Prices are testing the area between the signal lines, which indicates pressure from asset sellers and a potential drop already from current levels. As part of the cryptocurrency rate forecast for May 29, 2020, one should expect an attempt to develop the growth of the asset value and test the resistance level near the area of 245.05. Where again we should expect a rebound and continued decline in the Bitcoin Cash digital asset with a potential target below the level of 180.05.
Bitcoin Cash Forecast and Analysis BCH/USD May 29, 2020
An additional signal in favor of falling 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 lowering the BCH/USD quotes will be a rebound from the upper boundary of the «Triangle» model. Cancellation of the option to drop the Bitcoin Cash cryptocurrency rate on May 29, 2020 will be a strong growth and a breakdown of the area of 265.05. This will indicate a breakdown of the resistance area and continued growth of the cryptocurrency rate with a potential target above the area of 305.05. With the breakdown of the support area and closing of quotes below the level of 205.05, we should expect confirmation of the development of an upward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD May 29, 2020 suggests an attempt to test the resistance area near the level of 245.05. Where can we expect a rebound and the continuation of the fall of BCH/USD to the area below the level of 180.05. An additional signal in favor of reducing the digital asset of Bitcoin Cash will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the area of 265.05. This will indicate a continued rise in the cryptocurrency with a potential target above the level of 305.05.
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