Bitcoin Cash Price Analysis: Will Bitcoin Cash (BCH) manage to outrun the current trend?

Let us have a look at the price of the BCH coin since the first week of July 2019, Bitcoin Cash was reflecting bearish trend prior to the first week of July. BCH gained momentum since later part of the day from 2-July-19 with a sharp rise in the price. Barring few falls, the coin continued to show a rapid rise with prices touching as high as $423.14. However, BCH could not maintain the same levels of $423, and prices began to fall, and it fell as low as $389.52 on 5-July-19. Overall the movement of the coin has been fairly unstable with several steep rises and falls. While writing, the movement seemed to be fairly quite stable.

Let us have a look price analysis of Bitcoin Cash:

Current Data of Bitcoin Cash:

• Market Cap of the coin was 7,289,739,367 USD as per 08:54 UTC.
• Price of the coin is $415.68 as per 09:30 UTC.
• 24-hour volume figures are $1,382,478,232
• 17,880,000 BCH are at present in circulation.
• ROI of the coin is -25.45% at the moment.

BCH to USD Price Comparison:

Comparing the prices of the coin since 5-July-19 wherein price was $389.52 as per 07:00 UTC and today, the coin reflects an upward trend by around 6.74%. BCH will prove to be a good investment in the long run, and prices can rise as high as $430 in a few days. By the end of the year, we can anticipate the price to show stupendous growth by touching $550.

Bitcoin Cash Prediction & Conclusion:

The coin can be traded in the range of $406 and $423 as per the movement analyzed. It would be a good option to sell the current coins at hand. We suggest to wait for a few more weeks before investing your money in purchasing new coins. As per the MACD indicator, the movement of the coin will continue to remain bullish. The number of coins may be overbought shortly as per the trend of RSI indicator. If BCH manages to continue with the same trend, then the next major resistance levels might be seen at $424 and $432.