Do repost and rate:
On 1st June, the Bitcoin Cash price line was observed moving upwards on the charts. The cryptocurrency saw a gradual uptrend across the $254 level.
Through most of the day, the BCHUSD pair traded near the $242 mark, while it had a day’s range of $237.41 — $254.12.
1-Day Bitcoin Cash price analysis (1st June)
The coin began the trade month’s trade with a price near the $238 level. The price trajectory held below the $244 until after 21:00 GMT, after which the price line observed a sharper rise towards the $254 mark. At its highest, the BCHUSD trading pair approached the $254.12 mark, while it traded at $253.38 US Dollars at the time of writing.
The Relative Strength Index (RSI) moved to a high of 78.36 at the time the BCHUSD stepped onto a sharper upward movement. This shows that Bitcoin Cash was mildly overbought at the time. The RSI was at 54.06 at the time of writing.
Bitcoin Cash trades below $267 resistance
Kyer is a TradingView analyst who believes that the cryptocurrency will continue to hold the $267 monthly resistance instead of falling below and dumping towards the $222 support level.
Bitcoin Cash hit the 1st sell target of $246.3 on 30th May. The cryptocurrency continues to trade above the sell target instead of dumping towards the $222 support level. The dump is also likely; however, the trading analyst says that BCH is currently waiting on entry, and it’s not too likely for the cryptocurrency to dump towards the $222 support level as of now.
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.
Tags: bitcoin cashBitcoin cash price
