Bitcoin Cash price line observed a calm trading trend on the 6th of May, as the price changes on the hourly time interval appeared to be gradual. The cryptocurrency gradually moved across the $252 level, while it traded within a day’s range of $237.00 — $258.00.
1-Day Bitcoin Cash price analysis (6th May)
On the 6th of May, Bitcoin Cash did not depict any major changes in its price. The price line began the trade near the $246 mark, and it gradually moved to a high of $253.85 at 12:00 GMT. As the day proceeded, the BCHUSD pair gradually made its way back towards the $244 level, while it fell to a low of $237.80 US Dollars at the end of the day.
At the time of closure, the RSI had turned bearish while it fell below the level 15.00. The cryptocurrency was trading with a price of $242.62 US Dollars at the time of writing.
Bitcoin Cash: technical indicators
Bitcoin Cash price chart by TradingView
The moving average technical indicators do not exhibit any major changes in the price on the hourly time intervals. Both of the moving averages sketched smooth curves for most of the day’s trade. The 20-Day Moving Average (EMA) closed at $243.11, while the 50-Day Moving Average (MA) closed at $242.21.
The Relative Strength Index (RSI) moved to 81.02 on the scale at 03:45 GMT, showing an overbought instance for the coin. The RSI fell to a low of 13.39, depicting that the coin was oversold at that time. At the time of writing, the RSI was at 44.91.
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.