As Bitcoin takes moves down a few steps on its daily chart, the altcoins follow. Bitcoin Cash price line gradually fell towards the $234 mark on the 15th of May. The cryptocurrency showed a ruffled path for the day’s trade, while the coin’s price varied between the $232 — $244 trading range.
1-Day Bitcoin Cash price analysis (15th May)
Bitcoin Cash Price Chart by TradingView
The cryptocurrency’s highest standing for the day was at the begging of the daily chart, where the coin was priced at $243.50 US Dollars. After stepping on the day’s chart, the cryptocurrency saw a gradual decline through the rest of the trade. Near 21:00 GMT, the RSI fell to a low of 18.54, while the cryptocurrency reached a day’s low of $231.73 US Dollars. The low value for the RSI meant that BCH was oversold at the time. At the time of writing, the BCHUSD pair traded at $236.56 US Dollars.
Bitcoin Cash: technical indicators
Bitcoin Cash Price Chart by TradingView
The moving averages stood above the $242 level at the beginning of the 15th of May. Both of the technical indicators can be seen gradually moving down on the full-featured chart for the day. This depicts the decrease in price for Bitcoin Cash. The 20-Day Moving Average (EMA) closed at $235.58, while the 50-Day Moving Average (MA) closed below the 20EMA at 235.45.
The Relative Strength Index (RSI) appeared bearish at the time the cryptocurrency fell towards the $238 level. For the rest of the day, the RSI stayed between 30.00 — 70.00 on the hourly scale. At the time of writing, the RSI was at 63.68.
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.
