The Bitcoin Cash price line moved across the $247.50 mark on the price chart for the 2nd of April. The cryptocurrency saw bears after the bullish momentum concluded, which made the price line fall towards the $232.50 level. The BCHUSD pair traded between the $222.50 and $250.00 levels.
1-Day Bitcoin Cash Price Analysis (2nd April)
The cryptocurrency began the day with a trading value of $225.021283 US Dollars. The coin kept the trade between the $225.00 and $227.50 levels until after midday on the 2nd of April, when the cryptocurrency experienced a bullish movement and the price line rose towards the $240.00 mark. After 17:00 GMT, the coin saw more bullish momentum, and the BCHUSD pair shot up to a day’s high of $249.204938 US Dollars.
The cryptocurrency saw bears after it rose to the day’s high, and the price line was made to fall towards the $232.50 mark. The cryptocurrency traded between the $227.50 and $237.50 levels until the end of the day, where the Bitcoin Cash / US Dollar trading pair closed at $231.560 US Dollars.
Bitcoin Cash: technical indicators
The 20-Day Exponential Moving Average (EMA) closed at the $232.697219 mark. The 50-Day Moving Average (MA) moved past the 20EMA after the coin saw the bears, while it closed at $232.992400.
The Relative Strength Index (RSI) remained bullish until after it reached a high of 86.77, where the coin was overbought. After this instance, the RSI turned bearish, and moved between the 30.00 and 50.00 levels for the rest of the day. At the time of closing on the 2nd of April, the RSI was seen at 39.60.
Featured Image by Deedster.
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.