The Bitcoin Cash price stood near the $324.00 mark before it was subject to a bearish fall that took the price below the $300.00 mark. After midday, the cryptocurrency saw retracement towards the $320.00 level.
1-Day Bitcoin Cash Price Analysis (January 24)
Bitcoin Cash Price Chart by TradingView
The cryptocurrency stood at $323.95 US Dollars just as it started on January 24. At 01:33 GMT, the coin saw a bearish fall that led the price line below the $308.00 mark. After reaching $304.79 US Dollars, BCH traded between $304 and $314 until 06:16 GMT when the coin was subjected to another decline that gradually took the trading pair to a day’s low of $296.47 by 09:45 GMT.
By 11:12 GMT, the price line started to regain height and it reached $316.00 at 11:37 GMT. The BCH/USD trading pair was able to cross the $324.00 level by 14:31, though it returned between the $316 and $322 price range shortly. For January 24, Bitcoin Cash had a closing value of $317.47 US Dollars.
Moving Average Convergence Divergence (MACD)
Bitcoin Cash Featured Price Chart by TradingView
The MACD lines were drawn further from the trading pair’s price line at the points where the coin’s price drastically fell to $296.47, and where it regained value to cross the $320.00 mark. The 20-Day Exponential Moving Average (EMA) closed the day at $319.19, while the other MACD line, the 50-Day Simple Moving Average (SMA), closed the day’s trade with a value of $319.65.
The Relative Strength Index (RSI) reached a day’s low of 18.11 on the scale, while it stands at 42.31 at the end of January 24.
Featured Image by Lachlan Donald.
