TradingView Analyst Nuggy See Believes BCH Will Breach $350. According to one TradingView analyst, the price of Bitcoin Cash will continue moving forward after moving past the $308 mark.
The analyst who is known as Nuggy Dee thinks that the value of BCH/USD will rise above the $350 in the coming sessions. Just before the trading session began today, the price of the digital asset turned bullish and rose above the $302 mark on August 15. On the evening of the same day, the price of Bitcoin Cash exhibited a fresh rise in value.
This helped it move past the $306 area. It was at this point that the digital asset saw a single day’s high of $308.05. As of when this content was written, the price of Bitcoin Cash was changing hands at $307.95. This shows that the coins’ short-term outlook is bullish going by Dee’s analysis.
The BCH/USD Trading Pair is Above the Buyers Zone
The Trading View analyst also believes that the BCH/USD trading pair is currently sitting in a buyers zone. This suggests that traders can now buy the digital asset. The analyst also highlighted that the buyer’s zone is between $270 to $315.
The analyst has also indicated in their chart that currently, the price of BCH is accumulating and if it gains enough volume, the pair can test the closest resistance at $318. It can break above the $350 area. The rise will come after a brief drop to the $318 support area.
After this, the digital currency will continue to go higher if it holds the support at $318. To cap this prediction, the final price target was put at $481.99. The analyst indicated the strong support pattern at $203.36. Note that if the coin falls below the buyers’ region, this trade may not materialize.
Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.
- The price of Bitcoin Cash rises above $308
- The BCH/USD trading pair is currently in buyers zone
- At press time Bitcoin Cash price was trading at $307.95
BCH has also benefited from the bull-run that has been recently hit the digital asset market. The coin has managed to move past several important price positions in recent weeks. The price of Bitcoin Cash initially rose past the $306 mark on August 15. Later on, it moved to the $307 and $308 mark before retracing to its current price point.
Now that the digital asset has broken an important price position at $308 what’s next for Bitcoin Cash? Some TradingView analysts have given their analysis of the coins’ price action and predicted its next move. Let’s take a look at these predictions below.