Bitcoin Cash price falls by 6.5 percent: What’s next?

Bitcoin Cash price falls by percent what s next

On the 9th of April, Bitcoin Cash saw a bearish run that showed a fall of over 6.5% in the cryptocurrency’s price. The coin had risen across the $274 mark at the start of the day, while it had slipped below the $256 mark near the end of the day.

1-Day Bitcoin Cash Price Analysis (9th April)

Bitcoin Cash Price Chart

Bitcoin Cash Price Chart by TradingView

BCH was on a bullish run as it entered the price chart for the 9th of April. At the very beginning, the cryptocurrency saw a day’s high across the $274.00 mark, at $274.097178 US Dollars. Afterwards, the cryptocurrency was subjected to a decline until the end of the day. The coin fell to a day’s low of $254.300036 US Dollars at 19:37 GMT, after which BCHUSD rose back towards $260. The cryptocurrency closed at $259.20 US Dollars.

Bitcoin Cash: what’s next?

aleex5839 is a TradingView analyst who believes that the bulls had scaled the price above $266, while they struggled to maintain it. The analyst suggested that if the trading pair moves below the 20-Day Exponential Moving Average (EMA) at $236, the price may fall to $200.

Bitcoin Cash Featured Price Chart

Bitcoin Cash Price Chart by TradingView

The crypto analyst also stated that if the pair moves across the $281 mark, it is also possible that the coin rallies to $350. For now, the former suggestion of the TradingView analyst seems to be in play.

Featured Image by Steve Buissinne.

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.

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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