The Bitcoin Cash price line sees a bearish momentum towards the $320 mark on the 7th of March. The cryptocurrency was observed trading with a day’s range of $318.100000 — $329.100000. hoseingholami is a trading view analyst who was of the opinion that the cryptocurrency would see an uptrend after it broke through the buy zone at $344.
1-Day Bitcoin Cash Price Analysis (07th March)
Bitcoin Cash started the day’s trade near the $352 mark and it stayed between the $344 and $352 levels until it saw bears at 16:55 GMT. The price line immediately fell towards the $332 mark. The cryptocurrency saw to the day’s closure with a trading price of $328 US Dollars, after which it saw further decline towards the $320 mark.
Currently, the cryptocurrency trades with a value of $322.430 US Dollars. The 20-Day Exponential Moving Average (EMA) lies below the 50-Day Moving Average (MA), at $322.206299, and the 50MA lies at $324.435200. The Relative Strength Index (RSI) stands at 49.13.
Bitcoin Cash: predictive analysis
hoseingholami drew the expected path for the BCHUSD pair, which showed that the price line for the cryptocurrency should move up towards the $408.11 as it’s next target.
However, the order seems to have been cancelled and the price line has fallen towards the $322 mark, the next two support lines lie at $300.35 and $295.10.
Featured Image by M. B. M.
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.