As the altcoin market turns bullish on the 18th of April, the Bitcoin Cash price line headed across the $248.00 mark after observing a continuous incline on the day’s chart. The cryptocurrency traded between the $230.00 and $250.00 levels.
1-Day Bitcoin Cash Price Analysis (18th April)
The cryptocurrency entered the day with a day’s low of $231.43 US Dollars, after which it gradually moved towards the $240.00 level. The BCHUSD pair saw bears after 12:20 GMT, and jumped towards $240.00. The cryptocurrency stayed on the same trading level until after 20:00 GMT, when the coin saw another bullish momentum and crossed the $246.00 mark. The cryptocurrency saw a day’s high of $248.28 US Dollars, after which it returned towards the $244.00 level, and closed the day at a trading value of $244.71 US Dollars.
Bitcoin Cash: technical indicators
The 20-Day Exponential Moving Average (EMA) and the 50-Day Moving Average (MA) see continuous inclines on the 18th of April. The 20EMAmoved across the 50MA near 19:00 GMT, and it closed at $245.14. The 50MA closed at the bottom, at 244.01.
The Relative Strength Index (RSI) gradually turned bullish as it moved across the level 80.00 after 19:30 GMT. The RSI approached a high of 86.78, which shows that the coin was overbought. The RSI turned bearish nd fell towards the level 40.00, while it closed at 48.21.
Featured Image by Steve Buissinne.
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.