Bitcoin Cash Price Prediction: 2024, 2025, 2030

BCH price prediction: Key highlights

1. Primary support and resistance levels

• Within the weekly time frame, $183 was the lowest support.
• Conversely, $970 can likely stand out as the highest resistance.

2. Market sentiment

• In July 2024, the BCH market has been observed to be slightly bearish.

3. Predictive forecasts

• Based on our AI/ML algorithms forecasts, BCH can average over $14,000 in 2028 and $1 million in 2034.

Stay updated on BCH’s prospects 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: Asset loses gains amid sell-offs 

An analysis of BCH’s performance over the past year reveals significant volatility and a series of market cycles crucial for understanding the Bitcoin Cash price prediction for 2024. The initial month was marked by predominant bearish candles, culminating in the price falling to its lowest floor at $183 in mid-August

The buyers stalled a decisive downtrend by holding this base, which acted as a springboard to reclaim $215 by the end of September. Thus, a consolidation phase began, which saw the asset trading between $265 and $215. 

After over four months, BCH experienced a bullish breakout in February and flipped to $265. By the end of the month, a significant surge allowed it to fly past $423 and test the critical $500 mark.

After a slight retraction, the uptrend resumed. Another pump towards the end of March allowed BCH to reach the highest yearly resistance at $692. The second halving in early April pushed it 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 in late April. The price then remained range-bound between this resistance and $423. A bearish breakdown in mid-June flipped the latter in the sellers’ favor.

This renewed selling pressure resulted from Mt. Gox’s repayments, which impacted Bitcoin (BTC) and BCH. However, the latter is anticipated to take a larger hit. These payments include distributing approximately $9 billion worth of tokens, of which $73 million in BCH constitutes 20% of its daily trading volume.

Furthermore, the defunct exchange transferred over $50 million worth of BCH on July 16 ahead of distribution. With these ongoing payments, the asset's near future looks grim, further exacerbated by its low liquidity, as noted by AMBCrypto.  As the review period ended, it traded at $375. 

Market conditions can test BCH's resilience to retain a valuation over $300. A drop below this price range could push the asset to $265. Meanwhile, the most bearish scenario could see it drop as low as $215.
 

If the bulls can rally against the constant pressure and reclaim $500, it can provide a cushion for a breakout over $692. Thus, the asset can likely 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.
 

Future forecasts from our advanced prediction models indicate a substantial growth trajectory. These projections estimate that the average BCH price could escalate to $14,000 in 2028. Looking ahead, these models offer an even more optimistic outlook for the cryptocurrency, envisioning a remarkable surge in value to reach $1 million in 2034.

BCH's 2024 roadmap: Key indicators to watch and trade

• The trading volume dropped from its early June highs by the month’s end. After a lackluster performance, it recovered between late February and April. This was again followed by low volumes, reflecting investors’ exit.
• The Chaikin Money Flow (CMF) moved below the zero line between November and late February, albeit with a brief spike in early February. It retained its positive position till the analysis’s end. 
• At press time, the CMF stood at 0.17. This drop from previous highs indicated a decline in the inflow of money.
• The Moving Average Convergence Divergence (MACD) line formed a bearish crossover in late August. After stagnating above the zero line, it moved over the signal line in mid-February. 
• The lines’ ascension was reversed in April, culminating in another bearish crossover the following month. At the time of analysis, the MACD line stood at 9.8, the signal line at 33.2, and the histogram at -23.4, indicative of an emerging downtrend.