The Bitcoin Cash price line stepped down on the daily chart for the 3rd of April. The cryptocurrency fell towards the $244 level, and it traded between the $240 and $267 levels for the day.
1-Day Bitcoin Cash Price Analysis (3rd May)
The BCHUSD pair turned bearish on the 3rd of May where it fell to the $247.50level in the evening. The cryptocurrency traded between the $247.50 and $255 levels until the end of the day. Closer to the end of the day, the cryptocurrency caught another bearish momentum and fell towards the $244 mark right after it stepped on the price chart for the 4th of May. At the time of writing, the cryptocurrency traded at $244.46 US Dollars.
Bitcoin Cash: technical indicators
The 20-Day Exponential Moving Average (EMA) and the 50-Day Moving Average (MA) turned bearish on the day as the BCHUSD trading pair’s price fell. The 20EMA closed at 243.59, while the 50MA closed at the bottom, at 243.07.
The Relative Strength Index (RSI) fell to a low of 19.59 near 15:00 GMT, which shows that the cryptocurrency was oversold at that time. The RSI closed at 62.87.
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Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan holds no liability towards any investments based on the information provided on this page.