The BCHUSD pair moved across the $235 mark after falling below $208 on the 16th of April. The cryptocurrency traded between the $204 and $240 levels on the price chart for the day.
1-Day Bitcoin Cash Price Analysis (16th April)
The cryptocurrency’s price line had turned bearish as it stepped on the day’s chart. The price line fell below the $208 and reached a day’s low of $206.34 US Dollars, while it gradually started to move upwards on the price chart until after 06:10 GMT when the coin immediately rose across the $236 level. The cryptocurrency reached a day’s high of $238.32 US Dollars and then it fell between the $228 and $232 marks, where it traded for the rest of the day. The cryptocurrency closed the day with a trading value price of $235.45 US Dollars.
Bitcoin Cash: technical indicators
The 20-Day Exponential Moving Average (EMA) closed at the $231.68 mark as the BNBUSD jumps towards $235.45. After drawing a very straight path, the 50-Day Moving Average (MA) closed below the 20EMA, at $230.51.
The Relative Strength Index (RSI) headed across 80.00 after 06:00 GMT, which means that the coin was overbought then. The RSI turned bearish before closing on the 16th of April, while at the time of writing, the RSI was at 73.92.
Featured Image by Arek Socha.
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.