Bitcoin Cash price sees a gradual climb on the chart for the 2nd of May, as the cryptocurrency continues to hold the support. The coin’s price increased as the day proceeded, and it saw its high across the $265 mark.
1-Day Bitcoin Cash price movement (2nd May)
The altcoin’s starting price for the day was $254.22 US Dollars, and it rested above the support near $252 until after the first after of the day. After 12:00 GMT, the cryptocurrency appeared somewhat bullish, and the price line began to climb upwards on the daily price chart.
By the time of closure, the cryptocurrency was priced at $261.21 US Dollars. As the coin stepped onto the price chart for the 3rd of May, the cryptocurrency’s price shot up towards the $268.00 level. At the time of writing, BCHUSD stood at $267.23 US Dollars.
Bitcoin Cash: technical indicators
Bitcoin Cash price chart by TradingView
Both of the technical indicators for the 2nd of May exhibited smooth trajectories due to a gradual uptrend of the cryptocurrency. The 20-Day Exponential Moving Average (EMA) closed at $264.53, while the 50-Day Moving Average (MA) closed at $261.89.
The Relative Strength Index (RSI) stayed above the level 30.00 through most of the day. Just before approaching the end of the daily trade, the RSI turned bullish and moved across the level 70.00. At the time of writing, the RSI stood at 77.21, which shows a mildly overbought coin.
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.