Bitcoin Cash price line retreats below the $334.00 mark on the price chart for January 21 before returning back to continue rest near the $342.00 level.
1-Day Bitcoin Cash Price Analysis (January 21)
The cryptocurrency began its day’s trade at $342.52 US Dollars where it continued the bearish movement with which January 20 concluded. The bearish movement ended at 338.27 US Dollars by 00:14 GMT. After this, the bulls pulled the price line towards the $346.00 mark, thus reaching for a day’s high of $347.61 US Dollars at 03:16 GMT. The coin showed recursive up and down movements until 15:40 GMT, after which the price fell towards the $332.00 mark. By 19:42 GMT, the coin reached a low of $332.52 US Dollars.
After 19:56 GMT, the cryptocurrency saw retracement towards the $342.00 mark, where it currently trades at $342.68 US Dollars.
Moving Average Convergence Divergence (MACD)
The 50-Day Simple Moving Average (SMA) has traced a straighter path as the cryptocurrency’s price line has mostly varied its movements in a recursive manner. The 20-Day Exponential Moving Average (EMA) stands at $342.63, below which the SMA closed the day at $340.90.
The Relative Strength Index (RSI) for January 21 is currently placed above level 50, at 51.45.
Featured Image by Jason Leung.