After closing trade near the $342.00 mark, on January 22, the Bitcoin Cash price line sees bulls to cross the $354.00 mark, before it retreated towards the $350.00 level. The cryptocurrency exhibited a disheveled price pattern for most of the 1-Day price chart.
1-Day Bitcoin Cash Price Analysis (January 22)
As per the chart above, the coin slipped towards the $338.00 mark after it started its trade on January 22, near the $344.00 level. At 02:33 GMT, the cryptocurrency reached a day’s low of $338.31 US Dollars, after which the coin saw a bullish incline which continued until 07:25 GMT when the price reached the day’s high of $354.31 US Dollars.
After 07:35 GMT, the BCH/USD trading pair retreated below the $348.00 mark and stayed below the price level until the end of the day. The price below $342.00 between the 13:29 GMT to 16:27 GMT slot, after which it returned towards $348. BCH closed the day with a trading price of $349.87 US Dollars.
Moving Average Convergence Divergence (MACD)
The 20-Day Exponential Moving Average (EMA), alongside the other MACD line, the 50-Day Simple Moving Average (SMA) have traced straighter paths over the day’s chart. The SMA closed at $345.41, whereas the EMA closed the day’s trade at $349.67.
At the end of January 22, the Relative Strength Index (RSI) was found near level 70, at 67.89.
Featured Image Himanshu Srivastav.