The Bitcoin Cash price line rose above $286 on the 23rd of August. The cryptocurrency traded between the $278 and $288 levels over the day.
1-Day Bitcoin Cash price analysis
Bitcoin Cash price chart by Trading View
At the beginning of the 23rd of August, the cryptocurrency traded at $287.29, which was also the day’s highest for the 23rd of August. For the day’s lowest, the BCH price line fell below the $280 mark before noon. After 12:00 GMT, the cryptocurrency turned bullish and moved towards the $286 level. The price line oscillated between the $278 and $288 levels over the day’s trade. Bitcoin Cash closed the day at the $284.03 mark, while at the time of writing, it rose to the $292 level.
Bitcoin Cash technical indicators
Bitcoin Cash price chart by Trading View
The moving average technical indicators for the BCHUSD pair rose across the $286 mark on the 23rd of August. At the time of writing, the 20-Day Exponential Moving Average (20EMA) was observed at the $290.91 mark on the 24-Hour time frame, while the 50-Day Moving Average (50MA) stood at $289.73.
On the 23rd of August, both of the moving averages, the 20EMA, and the 50MA closed at the $285.03 mark. The Relative Strength Index (RSI) was observed at 59.45 at the time of writing. The RSI indicator moved to a day’s high of 79.16 on the 23rd of August. This means that the cryptocurrency was overbought at the time.
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.
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Taha Farooqui
Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.
