Bitcoin Cash price returns to $236 after rise across $242

As Bitcoin refused selloff after the death cross, the Bitcoin Cash price line moved across the $242 level on the 29th of May. The cryptocurrency’s price varied within a day’s range of $233.77 — $243.55. The cryptocurrency returned towards the $236 level before closing the 24hour trade.

1-Day Bitcoin Cash price analysis (29th May)

Bitcoin Cash Price ChartBitcoin Cash Price Chart by Trading View

Before BTCUSD approached the death cross technical pattern on the 28th of May, the BCHUSD pair stood near the $232 mark. The cryptocurrency gradually made its way towards the $238 level, and on the 29th of May, the trading pair moved to a day’s high of $243.66 US Dollars.

Bitcoin Cash remains at 5th on the list of top cryptocurrencies by market capitalization. BCH has a market capitalization of $4,355,939,624 US Dollars and a circulating supply of 18,420,431 BCH, as per coinmarketcap.com. At the time of writing, BCHUSD was observed at $239.95.

Bitcoin Cash: technical indicators

Bitcoin Cash Featured Price ChartBitcoin Cash Price Chart by Trading View

The moving average technical indicators show an uptrend that began at noon on the 28th of May. The 20-Day Exponential Moving Average (20EMA), and the 50-Day Moving Average (50MA) were observed rising above the $240 level at the beginning of the 29th of May. At the time, the BCHUSD trading pair appeared bullish. The 20-day EMA closed at $235.79, while the 50MA was seen at $236.25 at the time of closure.

The Relative Strength Index (RSI) appeared bullish at the start of the 29th of May. At the time, the RSI moved across 70.00 on its scale. The cryptocurrency was mildly oversold at those instances. At the time of writing, the RSI was at 46.13.

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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