On January 7, the Bitcoin Cash price line saw a gradual decline towards the $232.00 level, before it retraced to $242 prior to the day’s conclusion.
Bitcoin Cash Price 1-Day Analysis (January 7)
The cryptocurrency entered January 7 with its price of $245.90 US Dollars. It stayed above the $242.00 mark, where it depicted ruffled price movements until 4:08 GMT when the BCH price head below $242. The chart above shows that the coin kept trading between the $240.00 and $242.00 levels until 12:09 GMT when it saw a bearish drop. By 15:28 GMT, the price line slipped below $234.00 on the price chart, where it saw its day’s low of $231.94 at 16:00 GMT, immediately after which the cryptocurrency retraced towards $242, depicting a bullish recovery.
Just after 18:14 GMT, the coin’s price line had reached $242.85, and it continued to vary between the $240.00 and $246.00 levels until the end of the day. As of now, the cryptocurrency trades at $242.92 US Dollars.
Moving Average Convergence Divergence (MACD)
As per the detailed price chart above, the Relative Strength Index (RSI) lied between the levels 30.00 and 70.00 through most of the day. At 17:26 GMT, the RSI crept past the level 70 to reach its day’s high of 77.52, where it shows a brief overbought condition for the coin.
The MACD lines traced paths close to the trading pair’s price line. The 20-Day Exponential Moving Average (EMA) was seen closing at $243.04, which was just below the 50-Day Simple Moving Average (SMA) that concluded the day with a value of $243.05.
Currently, Bitcoin Cash has a market cap of $4,305,515,750 US Dollars.
Featured Image by Patrick Hendry