The Bitcoin Cash price line fell to the lowest support at $365 on the 20th of February after not being able to test $515.
As of the 21st of February, the coin has stopped with the bearish momentum. However, BCHUSD is expected to take some time to consolidate before facing bulls again. Currently, the coin trades within a day’s range of $372.060000 — $391.000000.
1-Day Bitcoin Cash Price Analysis (21st February)
The price line can be seen turning bearish before entering the chart for the 21st of February, after which the cryptocurrency shows its trade with a mean value near the $380 mark and spikes above the $388 level.
As its day’s high, BCHUSD peaked across the $390 level. At the time of writing, the Bitcoin Cash / US Dollar trading pair stands at the $377.930000 mark.
Bitcoin Cash: Predictive Analysis
The Relative Strength Index (RSI) has seen a relatively less volatile trend for the 21st of February. The crept past level 70.00 to reach a high of 80.73 at the start of the day. Currently, the RSI lies below level 50.00, at 39.70.
The 20-Day Exponential Moving Average (EMA) placed itself below the 50-Day Moving Average (MA) to score a closing value of $381.765354 at the end of the day. The MA closed at the $383.269400 mark.
On the other hand, a new Bitcoin Cash node is also underway expected to boost the BCH market price. However, cautious trading is advised at all costs to minimize losses and improve yields.
Featured Image by Mona Eendra.
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.