The Bitcoin Cash price line receded on the 21st of August as major altcoins turned to the downside on the charts. The cryptocurrency traded between the price levels of $276 and $308 over the day.
1-Day Bitcoin Cash price analysis
Bitcoin Cash price chart by Trading View
The BCH price stood at the $294.71 mark as the 24-Hour trade began, after which the price line returned past the $300 mark before 06:00 GMT. By 09:00 GMT, the cryptocurrency had risen to a day’s high of $305.57 US Dollars.
The cryptocurrency’s price turned bearish before noon and it fell to the $292 mark by 12:00 GMT. As the day proceeded, the price line gradually stepped down on the chart. The 21st of August was closed by the cryptocurrency, with a price of $282.50.
At the time of writing, Bitcoin Cash was observed trading at a price of $284.19 US Dollars. The 20-Day Exponential Moving Average (20EMA) was observed at $283.67, and the 50-Day Moving Average (50MA) was seen at $282.60 at the same time.
What to expect from the Bitcoin Cash price?
The Trading View analyst Mduchow is of the opinion that the cryptocurrency will fall short on its charts after a brief rise towards the $302 level.
Bitcoin Cash price chart by Trading View
On the 21st of August, the price line rose from the $292 level towards the $305 mark, after which the cryptocurrency receded towards the $281 mark. The primary target price for this trade lies near the $250 to $260 range, while the analyst also believes that Bitcoin Cash may fall to the $206 to $230 price range.
The trade became active on the 21st of August after the price line approached the $305 to $310 range, as it was suggested in the idea by the crypto analyst.
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.
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Taha Farooqui
Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.
