![Bitcoin Cash [BCH] could be ready for another pump. Here’s why…](https://i.headtopics.com/images/2023/8/26/cryptoamb/bitcoin-cash-bch-could-be-ready-for-another-pump-h-bitcoin-cash-bch-could-be-ready-for-another-pump-h-109313CED0C09F284BECE958924DD4B9.webp)
Bitcoin Cash maintained its bullish bias on the higher timeframes with the possibility of another rally on the horizon.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.The rising mean coin age hinted at the network-wide accumulation of BCH.holders in June almost feel like a distant memory. Since the huge run from $104 to $329, BCH has gone on a corrective dip that has wiped away almost 50% of the June gains.Despite the deep retracement, the bullish bias remained on the higher timeframes.
BCH’s press time price action on the 12-hour timeframe mirrored the June move with the price hovering above the $186 support level. This presents buyers with another opportunity for a significant rally. The Moving Average Convergence Divergence indicator posted a bullish crossover along with green bars above the zero level to signal bullish intent. Likewise, the Relative Strength Index jumped out of the oversold zone with the Chaikin Money Flow also pushing strongly to the zero mark after hovering for long in negative territory.
A bullish push from this level will retain BCH’s bullish sentiment with $250 and $300 attainable price ranges. However, if bears break below this support level, it will signal a shift in momentum with sellers able to target the $130 to $150 price levels.
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