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 $114 was identified as the lowest point.
• Conversely, a resistance level around $970 might stand out as the highest resistance mark.

2. Market sentiment

• In April 2024, BCH remains in a bullish market while undergoing correction.

3. Predictive forecasts

• Based on forecasts from our AI/ML models, BCH is projected to trade at an average price of over $4,000 in 2026 and nearly $70,000 in 2030.

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: Did the halving favor the price?

 

April marks a milestone month for crypto with major events lined up. While the anticipation of the upcoming Bitcoin (BTC) halving continues to garner hype among the community, the recent BCH halving has also put this asset on the broader crypto community’s radar. The impact of this event has significantly influenced Bitcoin Cash (BCH) price prediction for 2024 and beyond.
 

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 plunge over the initial month, reaching a low support level of $114 by the end of April.

 

This level was breached briefly in early June. Nonetheless, the bulls managed to reclaim it by mid-month with a notable pump. Following this, the price even breached the resistance at $265.
 

This momentum wasn’t sustained as BCH underwent a corrective pullback. Thus, a consolidation phase began in July, which saw the asset trading between $265 and $221. A bearish breakdown pushed the price below the latter support between mid-August and mid-September. However, the buyers regrouped and managed to stay afoot on $221 by the end of September.

 

For months, this support proved resilient to halt any declines. Finally, in February, BCH broke out and claimed $265. By the end of the month, a significant surge allowed it to fly past $400 and test the critical $500 mark.
 

After a slight retraction that was halted at $400, the price resumed the uptrend. Another pump towards the end of March allowed BCH to mark a new high resistance at $692. The second halving in early April pushed BCH 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 $500 close to mid-month. As the period under review came to a close, it traded at $484. This represented a loss of over 20% over the last week, as per CoinMarketCap.
 

Coinglass data revealed that the Open Interest (OI) has also taken a hit. This behavior contradicted what was observed in the 2020 halving. Many experts are looking at this trajectory as a reflection of what could happen with BTC, whose halving is close.

 

Moving forward, increased selling pressure can put the resilience of $400 to the test. If the bulls are able to defend it, it can provide a cushion for another rally. Moreover, with the BTC halving, the price might experience a positive momentum that can see BCH reclaim its position above $500.
 

In that case, the bulls’ next target would be to overcome $692 and effectively enter the $700 range. Given a sustained bull run, the price can go as high as $1,000 within this year. Yet, $970 can pose significant resistance to this uptick.

Nevertheless, if the price falls below the current support, the market can likely succumb to a downtrend. This could push the asset close to $300. Meanwhile, the most bearish scenario can even see it fall as low as $265.

 

Future forecasts from our advanced prediction models indicate a substantial growth trajectory. These projections estimate that the average BCH price could escalate to $4,000 by 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 $70,000 in 2030.

 

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. 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 bands significantly expanded, with the price frequently moving above the upper band and maintaining its position till April. As the analysis concluded, bearish candles were observed below the upper band, yet the price remained above the 20 MA. This was indicative of the market finding an equilibrium after extensive buying.
• 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 89.9, the signal line at 66.5, and the histogram at 23.4. This was indicative of waning market strength.