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Home News Bitcoin Cash News

Bitcoin Cash price falls below $340

Aroosa Nadeem by Aroosa Nadeem
Jan 19, 2020 at 10:26 pm
Updated Aug 02, 2020 at 07:08 am
in Bitcoin Cash News
2 min read
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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)

Bitcoin Cash Price Chart

Price Chart by TradingView

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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)

bch trading

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.

Aroosa Nadeem

Aroosa Nadeem

A media graduate and passionate media person Aroosa has a knack for digital media journalism and outreach. She has contributed content to different digital media publishers in a variety of areas including technology, health and finance.

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