After trading with a number of variations in the price line, the Bitcoin Cash price returns to the $375.00 mark after a 2-Day long trade in which the bulls led the coin towards the $388.00 mark. On February 08, the cryptocurrency continues its price trend from the preceding day.
1-Day Bitcoin Cash Price Analysis (February 02)
The cryptocurrency continued over the downward trend from the end of February 01. The decline stretched over to the 1-Day price chart for February 02. This bearish movement continued until 04:08 GMT when the coin reached a day’s low of $368.32 US Dollars. The coin saw retracement towards the $384.00 marker, and it crept past the $386.00 mark and towards the $388.00 mark by 12:22 GMT when BCH saw a day’s high of $387.81 US Dollars.
With a brief retreat towards the $378.00 mark, the cryptocurrency rose back above the $384.00 level by 16:11 GMT. BCHUSD currently has a trading price of $375.13 US Dollars.
Technical Indicators for Bitcoin Cash
The Relative Strength Index (RSI) slid past the 70.00 mark at 06:27 GMT and reached 76.60 by 06:34 GMT. The technical indicator stayed in between the 30.00 – 70.00 range according to the scale for the rest of the day.
The 20-Day Exponential Moving Average (EMA) closed trade at $378.79, while the 50-Day Moving Average (MA) ended February 02, at $381.62.
Featured Image by Michael Descharles.
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.