The Bitcoin Cash price line settled near the $280 mark after observing ups and down between the price level $274 and $290. Mduchow is a Trading View analyst who believes that the cryptocurrency will rise above the $350 mark.
1-Day Bitcoin Cash price analysis
Bitcoin Cash price chart by Trading View
At the beginning of the day’s trade, the cryptocurrency stood shy of the $286 mark after which it gradually made its way to a day’s high of $288.57 US Dollars. At the time of writing, Bitcoin Cash traded at $280.38 US Dollars.
The 20-Day Exponential Moving Average (20EMA) closed at the $281.70 mark, whereas the 50-Day Moving Average (50MA) stood at the $281.23 level. The Relative Strength Index (RSI) rose to 78.92 on the 24-Hour charts at 11:15 GMT, which means that the coin was overbought at the time.
What’s next for Bitcoin Cash price?
The Trading View analyst Mduchow stated that the BCHUSD trading pair completed its price correction on the 13th of August, while BCH price may rise past the $350 mark now.
Bitcoin Cash price chart by Trading View
On the 12th of August, the BCH price touched the bottom of the ascending trendline drawn below the wave correction pattern. The analyst highlighted an ascending channel pattern which the cryptocurrency recently broke out of towards the downside. Just shy of the price targets, the BCHUSD pair’s trajectory completed the last price correction, while it is expected to rise past the $300 mark next.
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.
