BCH Targets $120 Level, TAMA Purchase Frenzy Continues

The Bitcoin Cash price prediction keeps recovering from the monthly low of $106 as the price remains above the 9-day moving average.

Bitcoin Cash Statistics Data:

Bitcoin Cash price now – $117.3
Bitcoin Cash market cap – $2.2 billion
Bitcoin Cash circulating supply – 19.1 million
Bitcoin Cash total supply – 19.1 billion
Bitcoin Cash Coinmarketcap ranking – #30

BCH/USD Market

Key Levels:

Resistance levels: $145, $155, $165

Support levels: $95, $85, $75

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BCH/USD is in the hands of the bulls as the coin spikes towards the 9-day and 21-day moving averages. However, the bulls could sustain higher growth leading to a retest of the broken resistance level at $130. The technical indicator Relative Strength Index (14) is likely to cross above 50-level with the signal line pointing to the north for more bullish signals.

Bitcoin Cash May Gain More Upsides while Tamadoge Purchase Frenzy Continues

The Bitcoin Cash price is currently moving towards the 21-day moving average at the price level of $117.31. Therefore, if the bulls maintain the bullish movement, BCH/USD may likely cross above the 9-day and 21-day moving averages which could take the coin to the resistance levels of $145, $155, and $165.

On the other hand, any strong selling pressure may drag the price below the lower boundary of the channel if the bears step back into the market. However, should in case Bitcoin Cash trade below the daily opening price of $112, a bearish continuation could bring the price to the supports of $95, $85, and $75.

Against BTC, the market is bouncing back to cross above the 9-day and 21-day moving averages. At the time of writing, the Bitcoin Cash price has not been able to push the price upward, but it is currently trading at 6013 SAT. If the Bitcoin cash signals a more bullish rally, it may likely meet resistance at 7000 SAT and above. 

BCHBTC – Daily Chart

Looking at the daily chart, traders can say that the market may begin to follow an upward movement as the technical indicator Relative Strength Index (14) crosses above 50-level. More so, BCH is likely to head towards the upper boundary of the channel as revealed by the daily chart but should the coin drop below the lower boundary of the channel, it may find support at 5000 SAT and below.

Tamadoge, an ERC-20 token, will also have its initial DEX offering (IDO) on Uniswap. TAMA is set to list at $0.03. As the Tamadoge presale sold out earlier than expected, the team is reportedly moving forward with all TAMA crypto exchange listings to take place in the coming days.

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