Bitcoin Cash Price Prediction as BCH Gains 10% and Extends Bull Run – What's Going On?

cryptonews.com:

The Bitcoin Cash price has continued rising strongly today after beginning a surge yesterday, with its move to $235.39 representing a 1.5% gain in 24 hours and 12% rise in a week.

It seems that whales have begun accumulating BCH following a period of relative stagnation and decline for the altcoin, the coin's trading volume rising from only $70 million over the weekend to nearly $500 million today.

Its gains in the past couple of days now mean that it's up by 23% in a month and by 142% since the beginning of the year, making it one of the best-performing tokens over this period.

And with BCH's momentum remaining strong, it could continue to post gains in the coming days and weeks.

BCH must be one of the most bullish tokens in the market right now, with its indicators all pointing to strong buying pressure.

The coin's relative strength index (purple) is nearing 70, a level which signals considerable buying interest, on the one hand, but also the possibility that its rally could soon peak, on the other.

That BCH may be close to peaking is also indicated by the altcoin's 30-day moving average (yellow), which has remained above its 200-day average (blue) for several months now.

In other words, BCH should – in theory – come back down sooner or later, although traders who enter now may still be able to ride the token for a little while longer yet.

Indeed, the fact that its price has broken through its 30-day average yet again would suggest that another breakout may have just begun, and that it may still have considerable momentum.

While nothing has happened in the past few days to spark a BCH rally, it seems that whales and large investors have begun accumulating the token, as indicated by the marked increase in its trading volume.

Yet