Bitcoin Cash Price Prediction: 2024, 2025, 2030

BCH price prediction: Key highlights

1. Primary support and resistance levels

• Within the weekly time frame, a support level of $113 was identified as the lowest price floor.
• Conversely, $970 might stand out as the possible highest resistance mark.

2. Market sentiment

• In May 2024, the overall market sentiment for BCH is seen to be bullish.

3. Predictive forecasts

• According to our AI/ML predictive models, the price of BCH is projected to undergo significant variations over the coming years, as evidenced by the values mentioned in the tables below.

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: Can the asset rebound from bearish dominance?

The analysis of Bitcoin Cash (BCH) over the past year reveals significant volatility and a series of market cycles that are crucial for understanding the Bitcoin Cash price prediction for 2024.
 

The period began with BCH in a bearish descent, where it reached a year-low of $113 in early May 2023. This level represented a critical support that was thoroughly breached, signaling strong selling pressure. 

However, mid-June marked a significant turnaround, initiating a robust bullish surge that quickly elevated the price to $220. This upward trajectory did not halt at this level. By the end of June, BCH had ascended slightly over $273, setting a new short-term high.

July ushered in a reversal of fortunes as BCH faced substantial selling pressure, leading to a correction back down to $220 by late July. Despite dipping below this level by mid-August, the price found enough buying interest to rebound above $220 by early October.

In the following months, from early October 2023 through mid-February 2024, BCH entered a period of price consolidation. During this phase, the cryptocurrency frequently oscillated between $220 and $273, with neither bulls nor bears able to assert dominance. 

By the end of February 2024, BCH broke out of its consolidation range, propelled by renewed investor confidence and bullish momentum, pushing the price to a remarkable peak of $525. 

Although this level resulted in a slight pullback lasting until mid-March, the pullback proved insufficient to dampen the bullish spirit. By the end of March, BCH had surged to its highest price in the analysis period, touching $686.

The BCH halving in early April pushed the token to highs over $700, which had not been touched since 2021. However, bearish pressure hit the asset hard as it faced a downturn the week following the halving event. 

The price faced rejection at the peak chart resistance as the market displayed overextended conditions. Consequently, BCH fell below $525 close to mid-month. Furthermore, the price continued to decline until it reached $428 by late April. At the time of writing, BCH showed signs of a modest recovery, trading at $452. 

As per CoinMarketCap, BCH’s price has appreciated by 287% over the past year. Moving forward, increased selling pressure can put the resilience of $428 to the test. If the bulls are able to defend it, it can provide a cushion for another rally to the peak resistance at $686. Moreover, a sustained bullish movement may even lead to prices surging higher and touching $970 by the end of the year.

Nevertheless, if the price falls below the current support at $428, the market can likely succumb to a downtrend. This could push the asset close to $273. Meanwhile, the most bearish scenario can even see it fall as low as $220 by the end of the year.

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.
• An increase in volume was noted starting in late February, although not as substantial as in June. A drop in volume was witnessed by mid April that continued until the end of the analysis. This suggested a cautious stance among traders.
• 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 momentum may have fluctuated, the overall trend remained positive. In mid-February, the MACD line reasserted its dominance and began to rise. Yet, in April, the line experienced a downtick.
• At the time of analysis, the MACD line stood at 65.3, the signal line at 70.7, and the histogram was negative at -5.4. This was indicative of a slight bearish pressure.
• The Chaikin Money Flow (CMF) began its journey from the positive territory, albeit it was waning. By early June, it fell below the zero line momentarily. By mid-June, the indicator witnessed a massive spike, reaching its highest value at 0.36. This was followed by the indicator witnessing a dip in value. 
• By early November, the CMF fell below the zero line yet again. However, it recovered by mid-February. At press time, the CMF stood at 0.22, indicating a solid inflow of money into the asset.