While Bitcoin continued to hold its trading channel after the fall, while observing an uptrend on its price chart, Bitcoin Cash price followed BTC’s trend for the 22nd of May. The cryptocurrency rose across the $237 mark towards the end of the 24-hour trade.
1-Day Bitcoin Cash price analysis (22nd May)
The 24-hour chart above shows a gradual increase in the trading pair’s price. The uptrend was exhibited by the trajectory similar to that of BTC, drawn over the day’s price chart. The Relative Strength Index (RSI) remained far from a bearish convergence for the 22nd of May. At the time of writing, the BCHUSD pair stood at $237.70 US Dollars.
Bitcoin Cash: technical indicators
The moving average technical indicators exhibited a gradual incline for the BCHUSD pair on the 22nd of May. The gradual incline owes to the slow increase in price, that was seen by the cryptocurrency for the day’s trade. The 20-Day Exponential Moving Average (EMA) closed at $237.56, while the 50-Day Moving Average (MA) concluded the day at $237.01.
On the 5-Day full-featured chart, the Relative Strength Index (RSI) kept above 30.00 on its scale. This shows that there were not any instances on the 22nd of May, at which Bitcoin Cash may have been oversold. On the 1-Day full-featured chart, the RSI reached a high of 81.55 near 06:00 GMT, which means that the cryptocurrency was briefly overbought at the time. As the day concluded, the RSI stood at 52.12.
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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