The Bitcoin Cash price line rose towards the $326 mark at the start of the day, after which the cryptocurrency gradually fell towards the $315 level. The BCHUSD pair traded between the $310 and $326 levels.
1-Day Bitcoin Cash price analysis
At the beginning of the day, the cryptocurrency traded above the $308 level right after which the price rose towards the $326 mark where it saw a day’s high of $325.81 US Dollars.
For the day’s lowest, the BCH price fell to $311.47 US Dollars. At the time of writing, Bitcoin Cash was observed trading at $315.92 US Dollars.
What’s next for the Bitcoin Cash price?
The Trading View analyst Kyer is of the opinion that the BCHUSD pair will rise above the $350 mark next.
Bitcoin Cash price chart by Trading View
The analyst highlighted the 99-Day Moving Average (MA) and the 200-Day Moving Average (MA) technical indicators, while they explained that a golden cross might occur up ahead. The golden cross occurs when a short-term moving average crosses over a major long-term moving average for the trading pair, which indicates an uptrend for the market.
This happens when the short-term moving average begins to trend up faster than the long-term moving average, resulting in a cross. If this idea comes into play and the golden cross occurs, the cryptocurrency will rise to the $361.1 mark next, after which the price line may rise to the $435.0 level.
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.