On the price chart for the 19th of March, the Bitcoin Cash price line rose across the $235 level while it traded within a day’s range of $219.580000 — $227.790000. Trading view analyst MarketMinds is of the opinion that BCH may appear bullish as it breaks a downtrend line.
1-Day Bitcoin Cash Price Analysis (19th March)
The cryptocurrency traded under the $190 mark as the 19th of March began. The price line slowly moved towards the $195 mark and by 16:00 GMT, the coin saw a very bullish momentum which led the cryptocurrency across the $235 mark. Here, the price rose to a day’s high of $235.443772 US Dollars. The cryptocurrency was observed trading between the $220 and $235 marks till the end of the day.
BCHUSD saw to the day’s closure with a trading value of $232.185292 US Dollars, while at the time of writing, the cryptocurrency trades at $220.940 US Dollars.
Bitcoin Cash: bulls ahead?
While the key level and the resistance level are placed at $175.53 and $304.29, MarketMind suggested that Bitcoin Cash might see an uptrend soon.
The coin moved up across the $235 level on the price chart as the Relative Strength Index (RSI) broke out from the downtrend line. The cryptocurrency also appears to be forming a bullish pattern over the price chart while the BCHUSD pair currently stands in the buy zone.
Featured Image by Ishant Mishra.
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.