As a result of the bullish movement that started before January 28 concluded, the BCH price line heads across the $392.00 mark before 09:00 GMT on January 29. The cryptocurrency slipped back towards the $384.00 level just as the day came to an end.
1-Day Bitcoin Cash Price Analysis (January 29)
With the start of January 29, the Bitcoin Cash/USD trading pair was subject to the bullish incline towards the $392.00 mark. The cryptocurrency began trade on January 29 with a price of $380.26 US Dollars and it reached $387.55 US Dollars by 00:11 GMT. The trading pair does not show any steep and continuous rises or falls in the price line for the day.
After the coin saw bulls at 06:00 GMT, the price moved towards the $396.00 mark, though it peaked at a day’s high of $395.16 US Dollars. After 09:00 GMT, the coin gradually moved down on the scale with a number of price bounces. At the end of the day, the trading pair stood at $377.78 US Dollars.
Technical Indicators for BCH
The 20-Day Exponential Moving Average (EMA) stands at $382.99 by the end of January 29, while the 50-Day Moving Average (MA) has a closing value of $382.99. The Relative Strength Index (RSI) stayed between 30.00 and 70.00 on the scale for January 29, while it closed the day at 30.81.
Featured Image by Erol Ahmed.
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.