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)
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
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.