Bitcoin Cash price returns to $375

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)

Bitcoin Cash Price Chart

Bitcoin Cash Price Chart by TradingView

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

Bitcoin Cash Featured Price Chart

Bitcoin Cash Featured Price Chart by TradingView

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.com holds no liability towards any investments based on the information provided on this page.