The Bitcoin Cash price line, that was held up by the support at $222, broke below and fell towards the $211 level. Vukas7 is a TradingView analyst who believed that the coin would have observed an uptrend towards the $235 mark.
1-Day Bitcoin Cash Price Analysis (15th April)
The cryptocurrency’s trading pattern for the 15th of April appears to be ruffled above the $222 level for most of the day. The coin saw a day’s high of $225.48 US Dollars in the first quarter of the day. The pair exhibited a trade between the $220 and $226 levels on the price chart until after 22:30 GMT. After experiencing bears at the end of the day, the pair fell below the $220 mark and continued its fall towards the $211 level. The cryptocurrency closed the day with a trading value of $214.20 US Dollars.
Bitcoin Cash: break below $215?
As per Vukas7’s idea, the cryptocurrency should have seen an uptrend towards the $235 mark whilst attempting to cross the 100-Day Moving Average (100MA).
According to the crypto analyst, if the cryptocurrency made its way to the $235 mark, the second target would’ve lied near $245. However, the BCUSD pair broke below the $215 mark, invalidating this idea before it could come into play. As of now, the cryptocurrency has fallen towards the $210 mark and is under a bearish momentum.
Featured Image by Gerd Altmann.
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.