Bitcoin Cash price experiences another decline, taking the price line down to below the $310.00 mark by the end of January 25. The coin saw bears early into the day that took the price from the $318.00 level to the $308.00 mark between 00:05 and 00:32 GMT.
1-Day Bitcoin Cash Price Analysis (January 25)
After closing the trade on January 24, at $317 US Dollars, the price line entered the calendar for January 25, with a trading value of $317.75 US Dollars. At 00:05 GMT, the cryptocurrency saw a bearish fall that made the price drop drastically within a span of 25 minutes. By 00:32 GMT, the coin was standing at a trading value of $308.05 US Dollars. The BCH/USD trading pair continued trading with dishevelled rise and falls in the price between the $304.00 and $310.00 levels.
After 07:52 GMT, the cryptocurrency partially recovered from its preceding price fall. By 08:35 GMT, the coin reached $316.29 US Dollars, after which it fell below the $310.00 mark again by 10:51 GMT. After seeing another price recovery at led the price to $315.18 by 20:06 GMT. The Bitcoin Cash price line saw another price fall before it closed the day at $308.52 US Dollars.
Moving Average Convergence Divergence (MACD)
Both of the MACD lines for January 25 drifted away from the BCH/USD trading pair’s price line during the first fall in the price for the day. For the rest of the day, the 20-Day Exponential Moving Average (EMA), and the 50-Day Simple Moving Average (SMA) have been sketching their graphs near the trading pair. The EMA closed the day at $311.60, while the MA closed trade with a value of $311.67.
The Relative Strength Index (RSI) stands at 30.35.
Featured Image by Chandler Cruttenden.