Bitcoin Cash price suffers through a substantial decline as it falls below the $340.00 mark after being above $400.00 on January 18.
1-Day Bitcoin Cash Price Analysis (18 January)
After entering January 18 on the calendar, the cryptocurrency’s price line saw an immediate rise towards the $400.00. By 01:02 GMT, the trading pair had reached a day’s high of $403.08 US Dollars. After the successive rise in the cryptocurrency’s price, the coin was set to a bearish fall that led the price into a decline that initially (01:05 GMT – 03:00 GMT) showed a ruffled price pattern and then continued into a continuous drop until 04:41 GMT when the price line met $360.00 on the chart.
Between the 09:02 GMT and 15:02 GMT segment, the cryptocurrency retracement towards the $370.00 mark, after which the fall continued and led the price to the $340.00 level. At 16:29 GMT, the coin reached a day’s low of $333.65 US Dollars. At the end of the day, the cryptocurrency trades at $335.50 US Dollars.
Moving Average Convergence Divergence (MACD)
Bitcoin Cash Price Chart by TradingView
The Relative Strength Index (RSI) reached 87.08 on the scale as it’s day’s high, while it currently lies at 28.78. The 20-Day Exponential Moving Average (EMA), along with the 50-Day Simple Moving Average (SMA), moved closer to the BCH/USD trading pair’s price line till the end of the day. The EMA closed at $340.00, whereas the SMA closed at $347.10.
Featured Image Background by Jeffrey Hamilton.
