The post BCH Price Breakout Run On A Retest, Eyes $300 appeared first on Coinpedia Fintech News
As Bitcoin starts the historical trend of a bull run in the halving year, Bitcoin Cash is siphoning the additional momentum in the market. The BCH price trend signals an ascending triangle breakout and projects a potential uptrend continuation.
With the overall market gaining momentum, the BCH price is ready for a positive spin to create a new 52-week high. With such potential and increasing anticipations of a bull run, the BCH price prediction projects a bull run beyond $500 in 2024.
Source – Tradingview
With a 12% jump this Sunday, the BCH price shows a remarkable upcycle in the ascending triangle pattern. This sudden jump comes with the Bitcoin price reaching the $47K mark and results in the triangle breakout.
Further, the spike in the intraday trading volume supports the spike in Bitcoin Cash, promising a sharper move.
Currently, the BCH price trades at $269.53 with an intraday fall of 2.90%, resulting in a small pullback. The small downfall comes as a retest of the bullish breakout and teases a post-retest jump to crossover $300.
Technical indicators:
MACD Indicator: The MACD and signal lines diverge from each other in a bullish fashion to surf over the halfway line. Further, the rising trend in the bullish histograms support the buy signal. Hence, the momentum indicator bolsters the possibility of a breakout rally in Bitcoin Cash.
Will BCH Price Reach $350?
The market is getting ready for a potential surge in Bitcoin’s value as the highly anticipated Halving event draws near. This significant occurrence is poised to positively influence associated coins such as Bitcoin Cash and Ordinals, among others.
Further, with the altcoin season coming with the Halving around the corner, the altcoins can outperform Bitcoin. Optimistically, the BCH price can easily break above $300 with the ascending triangle breakout and reach $350 with the post-retest jump.