- Bitcoin Cash maintains stability above $520 with the upside limited at $540.
- Finder.com panel places Bitcoin Cash at $800 by the end of 2018 and $900 by end of 2019.
Bitcoin Cash broke out of the triangle resistance, although it is unable to escape the range resistance with the upper limit at $540. Recently, the price made an incredible upswing reclaiming the support at $500. BCH/USD zoomed past several other hurdles including $580 but began sinking slightly above this level. In the past couple of weeks, the crypto formed a contracting triangle who resistance was broken at $508.
The price also moved past the hourly moving averages and seems to have found balance above $528. Likewise, Bitcoin Cash is trading at $528 amid a slightly bullish trend. Bulls have taken a breather from the consolidation over the weekend, however, they still lack the mojo to break above $540 and trigger further movement to other significant hurdles at $560, $580 and eventually $600.
The MACD is ranging in the positive zone while the DMI is ranging at 50%. This shows that BCH/USD will most likely move sideways in the near-term. The price is also stable above $520, besides other lifeline supports exist at $500 and $420.
The predictions by expert analysts with finder.com place Bitcoin Cash growth at $800 by the end of the year. One of the analysts, Joseph Kaczynski predicted that BTC/USD will exchange hands at $690 by November 1 2018. Alisa Gus, CEO of WishKnish said the she expects Bitcoin Cash to trade at $900 by the end of 2019.
“Still waiting to see how this guy goes. She lost my confidence with the 51% attack. It will likely drift higher with the rest of the field,” Joseph Kaczynski stated.
BCH/USD 1-hour chart
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