Lokesh Gupta
04-04-2024
#Bitcoin Cash (BCH) price has held steady above the $650 mark despite recent market downturns, suggesting underlying strength in the asset.
On April 1, BCH surged to a 3-year high of $705, marking a substantial 60% increase over the preceding 14-day period.
The recent halving event contributed to $BCH's price surge, with a notable 11% uptick observed within the last 24 hours.
Noteworthy trend reversal patterns have emerged in #Bitcoin Cash's price action, indicating a bullish trajectory with momentum building following each breakout.
Over the past six weeks, $BCH has experienced an impressive 160% surge, catapulting its value from $262 to well above $680.
A recent retest at $600 or the 38.20% Fibonacci level has strengthened bullish sentiment, suggesting a possible uptrend continuation.
With bullish momentum gaining traction, Bitcoin Cash is setting its sights on $922, representing the 61.80% trend-based Fibonacci level.
A clear break above the prior peak at $705 may trigger a significant rally, aiming for the $1,000 milestone.
Conversely, should bullish momentum wane, there exists a downside risk for Bitcoin Cash, with a potential decline below $550.
According to Coingabbar Prediction, #Bitcoin Cash prediction 2030 indicates a sustained value of $3000, while Bitcoin Cash prediction 2040 foresees an increase to $10,000.
KEY LEVELS :
RESISTANCE LEVEL : $720-$800
SUPPORT LEVEL : $600-$530
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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