Bitcoin Cash Price Prediction July 2020 | Crucial $220 Level Tested!

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Just yesterday we witnessed BCH close the trading session below its 20 day moving average. The price dropped over 3.2% or $7.3, and that’s been the third consecutive day that a decrease has taken place. And it’s also in line with the slumping BTC/USD, as far as the Bitcoin Cash vs Bitcoin correlation goes. So now it has investors wondering whether this may have a lasting effect on the Bitcoin Cash price prediction (July).

After dropping so rapidly down to the $215 mark, the cryptocurrency has managed to regain some footing and is now balancing just above $221. So in order for a bullish Bitcoin Cash prediction to come true, we will have to see BCH remain above the critical support level of $220.

However, a bearish scenario seems likely for the BCH forecast July 2020 if the price continues to be pressured by the MACD and RSI. The RSI has ventured far into oversold territory, while the MACD has crossed below the midline. So at least for the very near future, it may be possible that the Bitcoin Cash price prediction will be headed further down.

Watch the full video for a deeper look into the Bitcoin Cash forecast July 2020. And stay tuned for our next BCH price prediction to keep track of the cryptocurrency’s movement.

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