Bitcoin Cash (BCHUSD) Suggests a Potential Buy Signal at $562.92 Mark

Bitcoin Cash (BCHUSD) Price Forecast: November 24

The Bitcoin Cash market is gaining traction, suggesting a potential buy signal today at a value of $562.92, as the bulls renew their buying pressure towards the upper range. The bulls’ trend could then continue to rise and reach the upper high level of $650.00, signaling the potential for significant gains as the bulls continue trending north.

Key Levels:
Resistance Levels: $561.00 $562.00, $563.00
Support Levels:    $443.00, $442.00, $441.00

BCH (USD) Long-term Trend: Bullish (Daily Chart)

The BCHUSD pair continued momentum above the supply levels in its higher time frame today, points to a possible buy signal, as it moves northwards.
According to the technical indicator, if the variables supporting the uptrend continue, the price may rise above its current level.

Due to the ongoing bullish pressure over the past few days, the cryptocurrency price has remained above the supply trend levels since its most recent high.

The price of Bitcoin Cash signals a potential buy with persistent buying, reaching a $562.92 resistance level above the moving averages. This suggests buyers are trying to extend the bullish advance.

Meanwhile, any further bearish argument would be refuted if the bulls made more attempts to retest the previous swing high of $625.52.

The daily projection also indicates an upward tendency. Consequently, the peak resistance point and the $650.00 upper resistance level may be reached if the overall bullish market trend persists, indicating the possibility of large gains as long as the bull trend is maintained.

BCH (USD) Medium-term Trend: Bullish (4H Chart)

Given that Bitcoin Cash prices are above moving averages, the coin market structure suggests a buy signal in its medium-term view.
The coin is in a consistent uptrend and has broken its previous high, indicating bullish momentum, according to the above chart.

The crypto price remained upward at its recent high due to pressure from the bulls at $538.56 in the prior action.

Due to a strong bullish influence on the market, the BCHUSD price today indicates a possible buy signal as it rises to $561.32 above the EMA-50 on the 4-hourly chart.

Therefore, the positive correction phase may continue to reach the resistance at the $567.86 point, indicating prospective growth, if the bullish momentum persists and purchasers do not give up.

Notably, the price indicator suggests an upward move as the Bitcoin market has more upside potential.

Hence, as more gains and strength are expected from the cryptocurrency, the token price may surge to reach the upper resistance level of $576.71 in the next days.

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