BCH price saw bears on the 13th of April and the price fell to the $224 level. kyer is a TradingView analyst who believes that the cryptocurrency is currently consolidating near $222 and that it will soon rise towards the $267 mark.
1-Day Bitcoin Cash Price Analysis (13th April)
The BCH price began the day with a bearish momentum, which made the price line fall towards the $226 level. After the first quarter of the day, the cryptocurrency’s price line further fell towards the $222 mark and continued the trade between the $218 and $224 levels until the end of the day. The cryptocurrency closed the day’s trade at a trading price of $224.840, after seeing some bulls at the end of the day.
Bitcoin Cash: rise to $267?
kyer explained that the cryptocurrency accumulated near the $222 mark before and then it rose across the $267 level on the 7th of April as seen in the chart below.
Similarly, the crypto analyst believes that BCH is currently consolidating at the $222 mark, and this will also be the entry-level for this idea. The cryptocurrency should rise towards $267 again. While the 200-Day Moving Average (MA) is acting as a support for the price. This idea, however, may take a while to play out.
Featured Image by edar.
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.