The Bitcoin Cash price line makes its trip back towards the $310 mark after the coin had exhibited a bullish momentum while trading near the $330 mark on the 27th of February. The cryptocurrency fell short of the $310 mark just as the price approached the chart for the 28th of February.
The trading view analyst wesley123 believes that the BCHUSD pair is going to accumulate as it touches 0.618 Fib. The Bitcoin Cash cryptocurrency has traded with a day’s range of $299.390000 — $327.190000.
1-Day Bitcoin Cash Price Analysis (28th February)
The cryptocurrency’s price line can be seen going up on the graph for the 27th of February when the price rose from the $308 mark towards the $333 level near the end of the day’s chart.
However, the cryptocurrency broke the uptrend just as the price shifted towards the 28th of February, and it continued over a downtrend that led the price line below the $300 mark by the afternoon.
The cryptocurrency showed disheveled price movements until the time of writing when the trading pair was observed moving upwards towards the current trading price of $322.80 US Dollars.
Bitcoin Cash: Predictive Analysis
Wesley123 had been of the opinion that the Bitcoin Cash price is going to accumulate at the 0.618 Fibonacci Retracement Level, with a price near the $296.1 US Dollars. However, that price action did not play out quite well.
The 20-Day Exponential Moving Average (EMA) lies above the 50-Day Moving Average (MA), at $312.998200. While the 50MA lies at $309.996600. The Relative Strength Index (RSI) stands at 61.23. Caution is advised in all cases.
Featured Image by Krystal Ng.
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.