On the 16th of June, the cryptocurrency traded above the $234 level and within a day’s range of $233.11 — $239.00. The pair had fallen below the $226 level on the 15th of June, after which it saw a price recovery towards the $236 mark.
1-Day Bitcoin Cash price analysis (16th June)
Bitcoin Cash Price Chart by Trading View
At the time of writing, Bitcoin Cash was observed trading at $236.41 US Dollars. The cryptocurrency depicted short rises and falls about the day’s chart.
Bitcoin Cash price: technical indicators
Bitcoin Cash Price Chart by Trading View
On the daily charts, the technical analysis shows that the moving averages sketched near the $237 mark. The 20-Day Exponential Moving Average (20EMA) closed at $235.87, while the 50-Day Moving Average (50MA) was observed at $236.03 at the same time. The BCHUSD pair moved in a ruffled price pattern over the day.
The Relative Strength Index (RSI) moved to a high of 76.07 during the first quarter of the day. This means that BCH was slightly oversold at the time. The RSI indicator was observed moving in between the 30.00 — 70.00 range for the rest of the day’s trade. At the time of writing, the RSI was observed at 57.68.
Bitcoin Cash price: trading orders
Quant Trader X is a TradingView analyst who depicted the stop loss and short orders for the BCHUSD pair on the daily chart.
Bitcoin Cash Price Chart by Trading View
The analyst suggests that Bitcoin Cash should be short at $230.63, with a stop-loss order at $238.57. This means that BCH is under a seller’s market. The stop-loss is an advance order to sell the cryptocurrency by the time it reaches $238.57.
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.
