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)
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.