The Bitcoin Cash price line moved across the $252 mark before turning bearish and falling below the $243 level on the 5th of May. After the bearish momentum, the cryptocurrency rested above $243 until the day’s trade ended.
1-Day Bitcoin Cash price analysis (5th May)
The trading pair stood below $247 at the start of the day, and it made its way across the $252 mark to reach a day’s high of $252.07 US Dollars.
After 10:00 GMT, the cryptocurrency appeared extremely bearish and it fell towards the $242.00 level. At this point, it had reached a day’s low of $241.84 US Dollars. For the rest of the day, the BCHUSD pair showed ruffled price movements between the $243 and $247 marks. At the time of writing, Bitcoin Cash traded at $244.41 US Dollars.
Bitcoin Cash: technical indicators
Bitcoin Cash price chart by TradingView
On the 5th of May, the moving average indicators turned bearish on the full-featured chart for the BCHUSD pair.
The 20-Day Exponential Moving Average (EMA) and the 50-Day Moving Average (MA) stayed between the $244 and $246 levels after 11:00 GMT and until the end of the day. The 20EMA closed at $245.61, while the 50MA closed at the top, at $246.07.
The Relative Strength Index (RSI) turned bearish and fell to a value of 21.92 at the time when the BCHUSD pair turned bearish near 10:00 GMT. This means that the coin was oversold at that time. At the time of writing, the RSI stood at 36.06.
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.