Bitcoin Cash price sees bullish momentum towards $435

Heavy accumulation zone was seen along the $361.10 mark and the Bitcoin Cash price did not return downwards to retest, thus a highly bullish momentum was expected, and the $435.00 mark was expected to be the first Sell Target. Currently, the cryptocurrency has risen above the $430.00 mark from its previous resting price near $380 US Dollars.

1-Day Bitcoin Cash Price Analysis (February 04)

bitcoin cash price chart

Bitcoin Cash Price Chart by TradingView

Over the course of February 04, the cryptocurrency drew relatively less volatile price movements, where it traded near the $380 US Dollar range. There was heavy accumulation near the support that lies at $361.1, and the cryptocurrency did not appear to fall to retest, which accounted to a highly bullish momentum for the cryptocurrency. The accumulation was targeting towards $435 for its first Sell Target zone, with an 18% gain.

According to the chart above, the cryptocurrency saw the bullish trend near 10:00 GMT and the price shot up across the $420.00 mark by 10:39 GMT, followed by another rise across the $430.00 mark by 14:10 GMT. The cryptocurrency currently trades at $431.2700 US Dollars.

Technical Indicators for Bitcoin Cash

bitcoin cash featured price chart

Bitcoin Cash Featured Price Chart by TradingView

The 20-Day Exponential Moving Average (EMA) currently lies at $432.389816, whereas the 50-Day Moving Average (MA) is at $433.508600. The Relative Strength Index (RSI) was seen at 45.52.

Featured Image by Clark Van Der Beken.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. holds no liability towards any investments based on the information provided on this page.