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Home News Bitcoin Cash News

Bitcoin Cash price peaks above $400

Aroosa Nadeem by Aroosa Nadeem
February 25, 2020
in Bitcoin Cash News
2 min read
Bitcoin Cash price peaks above $400 1
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 The Bitcoin Cash price line returns towards the $370 mark after reaching the $410 level on the 24th of February. The trading view analyst kyer believes that the cryptocurrency has wicked at the bottom of a marked accumulation zone and the next stop for BCHUSD lies at the $435 mark. He stated that this was a heavy accumulation zone for Bitcoin Cash.

1-Day Bitcoin Cash Price Analysis (24th February)

Bitcoin Cash Price Chart

Bitcoin Cash Price Chart by TradingView

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After following the bulls from the 23rd of February, the cryptocurrency reached a high located just below the $410 level at the start of the 24th of February. The cryptocurrency saw a bearish momentum shortly after this uptrend and it immediately returned to the $388.00 mark. The cryptocurrency traded near the price level until before the evening when the coin’s price saw a further decline that was directed towards the $364 mark.

Currently, the Bitcoin Cash / US Dollar trading pair stands at the $371.330 mark. The Relative Strength Index (RSI) for the cryptocurrency lies at 53.10. The 20-Day Exponential Moving Average (EMA) closed at 371.240110, and the 50-Day Moving Average (MA) was placed at $370.230600.

Bitcoin Cash: Predictive Analysis

kyer is of the opinion that the cryptocurrency had wicked the bottom of a heavy, marked accumulation zone, which was noted before the year began. The crypto analyst stated that the next price target for BCH is $435.0, though it might see a minor pullback.

Bitcoin Cash Featured Price Chart

Bitcoin Cash Price Chart by TradingView

The trading view analyst suggested that the coin will not fall to $365. Recently, the cryptocurrency has seen a pullback towards the $370 mark, from its previous standing price above the $400 mark. However, this does not render the prediction false, as the minor pullback does not refute a possible uptrend for the cryptocurrency.

Featured Image by Jonas Jacobsson.

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.

Aroosa Nadeem

Aroosa Nadeem

A media graduate and passionate media person Aroosa has a knack for digital media journalism and outreach. She has contributed content to different digital media publishers in a variety of areas including technology, health and finance.

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