On the 27th of February, the Bitcoin Cash price line was observed to be bearish. The coin rose above the $332.50 mark after seeing bears at the start of the day. The BCHUSD pair trades with a day’s range of $323.750000 — $327.190000.
1-Day Bitcoin Cash Price Analysis (27th February)
The Bitcoin Cash price saw an immediate rise across the $331 mark after it fell below the $307 mark at the beginning of the 27th of February. The BCHUSD pair saw a day’s high at the $335 mark after it gradually rose to it in the afternoon. At the time of writing, the Bitcoin Cash / US Dollar trading pair lies at $324.450.
Bitcoin Cash: Technical Indicators
The 50-Day Moving Average (MA) crossed above the 20-Day Exponential Moving Average (EMA) on the 24-Hour chart at 18:43 GMT. The 50MA currently lies above the 20EMA, however, the 50MA seems to be converging towards the 20EMA. The 50MA closed at $325.519400, while the 20EMA closed the day at $324.490188.
The Relative Strength Index (RSI) stayed between the levels 30.00 and 70.00 throughout the 1-Day chart. Currently, the RSI is below the 50.00 mark, after it bounced off of level 60.00.
The coin appears to be waiting for buy pressure or a candlestick pattern with a long target towards the $498 mark.
Featured Image by Luke Chesser.
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.