After the Bitcoin price dump, the Bitcoin Cash price line fell below $235 and appeared to have held its stand for the rest of the 10th of May. The cryptocurrency traded within a day’s range of $233.03 — $237.00.
1-Day Bitcoin Cash price analysis (10th May)
Bitcoin Cash price chart by TradingView
After its fall to below the $235 level, the BCHUSD pair traded between the $228 and $238 levels for the rest of the 10th of May.
The technical indicators do not exhibit any major variation in the price of the cryptocurrency. At the time of writing, Bitcoin Cash traded at $237.00 US Dollars.
Bitcoin Cash: technical indicators
Bitcoin Cash price chart by TradingView
The moving averages drew straight paths on the full-featured chart for the day’s trade. The movement of the moving average technical indicators suggests that the BCHUSD trading pair did not see much price variation over the day.
The 20-Day Exponential Moving Average (EMA) closed at $234.26, while the 50-Day Moving Average (MA) closed at the bottom, at $233.45. The Relative Strength Index (RSI) showed a bearish divergence at the beginning of the 10th of May as the dump occurred. At that time, the RSI reached a low of 3.96.
Such a low value for the RSI suggested that the cryptocurrency was oversold at the time. For the rest of the 10th of May, the RSI appeared bullish, as seen in the full-featured chart above. At the time of writing, the RSI stood at 70.92.
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.
