BCH Price Analysis: Can BCH Touch $300 Before BTC Tops $40K?

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Taking support from the 50-day EMA, the BCH price manages to reclaim trend momentum and continue the prevailing trend. As Bitcoin shoots up with the anticipations of Bitcoin Spot ETF becoming trending, the major forks capitalise on the momentum. 

With a sharp increase and teasing a bullish pattern breakout, the altcoin remains at a crossroads to a moonshot. Therefore, the BCH price prediction suggests a bull run possible to $300 in 2023. 

Avoiding a downfall below $200, the long tail formations close to the 50-day EMA help the BCH price regain bullish support. With the market recovery fueling the reversal rally, the Bitcoin Cash prices reclaim the $250 mark with a 22% jump to $269.

However, as the Uptober season concludes and Bitcoin stabilises close to $34K, the Altcoin loses its momentum and drops under the $250 mark. Creating multiple bearish candles, the Bitcoin Cash trend struggles to sustain the inverted head and shoulder pattern. 

Currently, the BCH price trades at $243.48 with an intraday fall of 1.56%, reflecting a gain in selling pressure. However, any positive developments in the Bitcoin Spot ETF approval can refuel the prevailing trend and cross the $250 barrier. 

Technical indicators:

RSI indicator: The daily RSI line hits off the overbought boundary and reflects down as the buying pressure subsides. Nevertheless, the overall momentum stays positive and suggests a bullish chance for revival. 

EMA: The uptrend sustains above the crucial 50-day and 200-day EMAs as they continue to move sideways. 

Will Bitcoin Cash (BCH) Price Crash Under $200?

As the overall market sentiments take a step in a positive direction, the recent short pullback is just a hiccup in the long trend. If the Bitcoin Spot ETF gets approved, the major forks of Bitcoin, like Bitcoin Cash, BSV, etc., will skyrocket to a new 2023 high.  

If the BCH price shoots above $250, technically, the next target will be around $300. However, a sentiments-fueled rally can propel the value higher. 

Conversely, a downside move under $215 or the 50-day EMA will result in a plunge to $200.