Bitcoin Cash price falls below $370.00 just as the first month of the new year comes to an end. The cryptocurrency saw a steep bearish fall after midday on January 31, this led to a fall below the $365.00 mark. The cryptocurrency saw a brief retracement towards the $375.00 level on the price chart.
1-Day Bitcoin Cash Price Analysis (January 31)
At 00:00 GMT on January 31. the Bitcoin Cash coin stood above the $392.00 mark with a price of $392.15 US Dollars. The cryptocurrency was subjected to a bearish trend of the price as soon as the day began. The BCHUSD trading pair head downwards over a continued decline towards the $380.00 mark. At 11:24 GMT, the price line saw bears and took a steep downward movement until it reached $364.11 US Dollars.
Technical Indicators for Bitcoin Cash
The 20-Day Exponential Moving Average (EMA) closed trade at $392.40, while the 50-Day Moving Average (MA) has a closing value of $392.43. The third technical indicator, the Relative Strength Index (RSI), stood at 50.75 on the scale at the end of the day.
Featured Image by Jeffrey Hamilton.
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.