The Bitcoin Cash price hit new levels in today’s crypto news, after it observed an incline on the 22nd of April as the cryptocurrency turned bullish. This was all a result of the market, and was how the BCH/USD pair traded between a day’s range of $231 to $235.
The current value of BCH is below $230 but there is still some strong bullish notes that are playing to the cryptocurrency’s advantage. In the other news, we can see that many coins from the top 20 are doing good.
According to the price chart which is posted above (by TradingView), we can see that the Bitcoin Cash price observed an incline on the 22nd of April. This is how the BCH price rose across the $234 mark, from a price which was as low as $217 US dollars.
The coin approached a daily high of $235 but later corrected to $232. After that, we could see BCH declining more to the current levels of $229. In the altcoin news, the day is going good and the cryptocurrencies are closing with gains as we speak.
As you can see above, the technical indicators for Bitcoin Cash start from the 20-day exponential moving average (EMA) and the 50-day moving average (MA), both of which are showing relatively smooth inclining curves on the price chart for the 22nd of April.
The Relative Strength Index (RSI) also remained above the 40 level for more of the day and the Bitcoin Cash price hit new highs. This indicates that the cryptocurrency was neither overbought nor oversold.
Additionally, we can see that BCH has performed staggeringly well this morning with a 12.5% hike to the upside as the confidence started to return to cryptocurrencies. The coin surged following yesterday’s daily candle close, as it now takes aim at the $238 and $282 levels of resistance.
A break above the 200MA now would indicate a clear shift in sentiment which may well tie to the upcoming Bitcoin halving. If this happens, we are about to see a good positive momentum for both BCH and BTC. In the Bitcoin news, the situation is good and the dominant coin is now pushing for the start-of-the-year price of $7,200 which is a major psychological level and where a potential breakout may be lying.
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