Bitcoin Cash price rises to $246, settles near $243

On 8th July, the Bitcoin Cash price turned bullish and trod past the $245 mark before settling near the $243 level. At the time of writing, the cryptocurrency was observed trading at a price of $243.07 US Dollars.

1-Day Bitcoin Cash price analysis (8th July)

Bitcoin Cash price chart 1 - 8 July

Bitcoin Cash price chart by Trading View

At the beginning of the day, the BCH price line slipped below the $236 mark, where it saw a day’s low of $235.84 US Dollars, shortly after which the cryptocurrency turned bullish and moved towards the $244 mark.

In the afternoon, the price line observed a brief retracement to the $241 level before it gained a day’s high of $246.00 US Dollars. At the time of writing, the cryptocurrency traded at $243.07 US Dollars.

The Relative Strength Index (RSI) rose to a high of 78.98 at 11:02 GMT, which shows that the cryptocurrency was overbought at the time. At the time of writing, the RSI was observed at 58.07.

What to expect from the Bitcoin Cash price?

Pidenuze is a TradingView analyst who has drawn an idea for the BCHUSD pair on the 4H charts.

Bitcoin Cash price chart 2 - 8 July

Bitcoin Cash price chart by Trading View

The analyst believes that the cryptocurrency will see a downtrend towards the $205 mark. As per the chart above, the probable downtrend is drawn using a trajectory that the cryptocurrency is expected to follow.

As per the analyst, the BCHUSD trading pair will gradually make its way towards the $205 level. Currently, the cryptocurrency trades above the $240 mark.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement.

 

Join Geezgo for free. Use Geezgo’s end-to-end encrypted Chat with your Closenets (friends, relatives, colleague etc) in personalized ways.>>
Did you enjoy this post? Please comment below:

  • Bitcoin
  • Ethereum
  • Litecoin
  • Zcash
Scan to Donate Bitcoin to bc1qcc3xajxvdqjnx2f7j7sfcfun7jagr0nh94fa2e

Donate Bitcoin to this address

Scan the QR code or copy the address below into your wallet to send some Bitcoin

Scan to Donate Ethereum to 0x704671D7591d05Dd0790E86Aee964558E9347b07

Donate Ethereum to this address

Scan the QR code or copy the address below into your wallet to send some Ethereum

Scan to Donate Litecoin to ltc1q7tj9ydra9ylkelu42vypp6cu2v0msf5lc2p5mq

Donate Litecoin to this address

Scan the QR code or copy the address below into your wallet to send some Litecoin

Scan to Donate Zcash to t1LiPaQ7gsSL23FbjXswpSoguP6yAE1xj5B

Donate Zcash to this address

Scan the QR code or copy the address below into your wallet to send some Zcash

 172 

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *