Bitcoin Cash Price Prediction: 2024, 2025, 2030

BCH price prediction: Key highlights

1. Primary support and resistance levels

• Within the weekly timeframe, a support level of $102 was identified as the lowest point.
• Conversely, a resistance level around $970 might stand out as the highest resistance mark.

2. Market sentiment

• BCH remains in an overextended market in April 2024.

3. Predictive forecasts

• Based on forecasts from our AI/ML models, BCH is projected to trade at an average price of over $5,000 in 2026 and $196,000 in 2031.

Gain deep insights on BCH via a comprehensive weekly technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models: 

BCH technical analysis: Upcoming halving paves the way for significant gains

April marks a milestone month for crypto with major events lined up. While the anticipation of the upcoming Bitcoin (BTC) halving continues to inject optimism into the community, the BCH halving has also put this asset on the broader crypto community’s radar. With only a few days away, this halving makes Bitcoin Cash (BCH) price prediction for 2024 quite pivotal.

An analysis of BCH’s performance over the past year revealed that the initial period was characterized by a bearish trend. This saw the cryptocurrency's value diminish over time, reaching a low support level of $102 in June. 

In mid-month, the bulls rallied, which culminated in the price testing $300 by the end of the month. This resulted in a rejection due to the asset being overbought. A consolidation followed in July, with the asset trading between $221 and $265. In mid-August, it briefly fell below $221. However, it reclaimed it by the end of September.

For months, this support proved its resilience to halt any declines. Finally, in February, BCH broke out and claimed $265 as support. By the end of the month, a significant surge allowed it to finally overcome $300 and led it to test $483.
 

After a temporary pullback, the price resumed the uptrend. Another pump towards the end of March allowed BCH to soar above the $600 mark, turning $661 as the new support. This level has not been crossed since November 2021.

As the period under review came to a close, BCH traded at $665, eyeing the resistance at $700. Moving forward, the significance of BCH’s second halving event cannot be overstated. Historically, halving events have served as catalysts for price movements within cryptocurrencies due to their direct impact on the asset's scarcity and, consequently, its perceived value. 
 

AMBCrypto recently analyzed Santimet data. The observation showed that BCH maintained a positive weighted sentiment, indicating a strong bullish outlook for the token. This optimism coincided with a notable increase in trading activity and open interest, especially as BCH's open interest in perpetual futures contracts surged to a record $708 million.

This marked a significant rise from the previous high in May 2021, suggesting increased leveraged bets and expectations of price volatility surrounding the upcoming halving.

Furthermore, the number of Bitcoin Cash wallets showed a significant increase, rising from 25.88 million at the end of March 21 to 26.11 million by March 31. This growth represents the creation of over 230,000 new wallets within just ten days.

Based on this momentum, BCH can target $760 next. The price can go as high as $1,000 this year. Yet, $970 can pose significant resistance to this uptick. Nevertheless, if the rally falters due to the market’s over-exhaustion, BCH might find itself below $600 again. A reversal could see the price back near $300.
 

Future forecasts from our advanced prediction models indicate a substantial growth trajectory. These projections estimate that BCH could escalate to $5,000 by the year 2026. This entails reclaiming the all-time high (ATH) within the next two years. Looking ahead, these models offer an even more optimistic outlook for the cryptocurrency, envisioning a remarkable surge in value to reach $196,000 by 2031. 

BCH's 2024 roadmap: Key indicators to watch and trade

• The trading volume was low at the start but increased substantially as the price rose in June. During the stagnant price movement that followed, the volume dropped.
• A slight increase in volume was noted in late February, although not as substantial as in June. This suggested a cautious interest from traders during the latest bullish trend.
• Initially, the Bollinger Bands contracted, with the price falling below the 20-week moving average (MA) towards the end of April. By mid-June, the price had climbed above the MA and even slightly exceeded the upper band, causing the bands to expand. However, by the end of October, the bands contracted again. Additionally, the price stabilized near the MA, which served as a dynamic support.
• Towards the end of February, the Bollinger Bands had a significant expansion, with the price frequently moving above the upper band and maintaining its position by the end of the analysis period. This signaled that the asset was overbought and the market was highly volatile.
• The Moving Average Convergence Divergence (MACD) and signal lines started below zero, with the MACD line initially dominant. After a brief dip below the signal line in June, the MACD line reclaimed dominance and moved above the signal line and even the zero line in mid-June. This suggested a potential shift toward bullish momentum as the signal line followed by the month’s end.
• Between late August and February, the MACD line dipped below the signal line again, yet both lines remained above zero. It reflected that while there may have been fluctuations in momentum, the overall trend remained positive. In mid-February, the MACD line reasserted its dominance and began to rise continuously, further affirming bullish momentum.
• At the time of analysis, the MACD line is at 93.3, the signal line at 51.9, and the histogram at 41.4. This was indicative of increasing market strength and potential continued upward movement.