Are you planning to invest in Bitcoin Cash(BCH) and looking for a detailed price action analysis to back your investment decision? Then this BCH price analysis is for you. As we go through this analysis, we will also discover the key resistance and support levels. In this Bitcoin Cash update, we’ll discuss its latest price action using indicators like MACD and RSI and try to predict its future movements.
BCH Price Analysis of 24th April, 2025
On April 23rd, Bitcoin Cash (BCH) exhibited a mix of breakouts, consolidations, and shifting momentum on the 5-minute chart. The day started with BCH slipping into a downtrend, hitting $354 by 01:55 UTC. At 03:30 UTC, BCH reversed course, climbing to $363, but the momentum quickly faded. It entered a confined range between $362 and $357, showing indecision in the market. The RSI fluctuated between neutral and slightly overbought, while the MACD alternated between golden and death crosses, signaling a battle between bulls and bears without a clear winner.
Chart 1, Analyzed by Alokkp0608, published on April 24th, 2025.
From 06:00 to 15:00 UTC, BCH broke free of the consolidated range after sellers took control by 13:30 UTC, driving the price to $354 by 15:00 UTC. This support held, and BCH rebounded to $364 by 18:20 UTC. However, the lack of momentum was evident, as the RSI struggled to break above 65, and bullish crossovers on the MACD were brief. With no sustained rally, BCH fell back into a downtrend, hitting a low of $356 by 19:30 UTC before drifting sideways, indicating exhaustion from both sides of the market.
On April 24th, BCH formed an ascending triangle just below the $362 resistance. Between 00:00 and 03:00 UTC, BCH broke out to $368 at 03:25 UTC but couldn’t maintain the momentum, retracing back to $354 by 08:50 UTC. This marked the third test of support, and while the pullback was significant, the lack of breakdown indicates accumulation at these levels. Both the RSI and MACD reset, suggesting BCH could be setting up for another upward move.
BCH Price Prediction: What Lies Ahead for Bitcoin Cash?
Currently, BCH trades near $358, hovering above critical support with momentum indicators beginning to realign. For bulls to regain control, the BCH price must close firmly above $362, followed by a strong push toward the $368–$370 resistance band. A successful breakout from this zone could open the door to $375, while a breakdown below $354 may expose the $350–$348 range. Momentum indicators like RSI trending above 55 and a sustained MACD golden cross will be crucial to confirm any bullish continuation in this Bitcoin Cash update.
Can Bitcoin Cash Break Free from the Range?
Bitcoin Cash (BCH) is in a crucial zone right now, just above the key $354 support level. For now, buyers have stepped in at this level several times, showing it’s a solid floor. But the struggle to stay above $362 also makes it clear that sellers aren’t giving up easily. For BCH to really build momentum, we need to see a confident move above $362, ideally with a push toward the $368–$370 zone.
If that happens, $375 could be next. On the flip side, if it slips under $354, we might be looking at a drop toward $350 or even $348. BCH Price prediction suggests traders should closely observe confirmation signals from the MACD and RSI indicators; if both start turning up, it could be BCH’s cue to break out.
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