Bitcoin Cash (BCH) price started trading again in the range of $ 230 to $ 240 after the drop in early May. While BTC recently fell below $ 8,400, Bitcoin Cash followed a downward curve and followed the leading cryptocurrency in the downtrend. At the time of writing, BCH’s one-day range ranged from $ 217.55 to $ 238.60.
After the cryptocurrency’s fall on May 10, Bitcoin Cash drew a price chart near the $ 235 level. The cryptocurrency dropped to the $ 220 level as the RSI dropped in the evening and then returned above the $ 230 level. At the time of writing, BCH was trading at $ 234, according to CoinMarketCap data.
The moving averages were at $ 235 during May 10. This indicates that the BCH / USD pair traded above and below the $ 235 level for most of its trading. The 20-Day Exponential Moving Average (EMA) closed at $ 235.53, and the 50-Day Moving Average (MA) at $ 231.85.
Relative Strength Index (RSI) fell to 16.85. The low value of the RSI indicates that the cryptocurrency was over-sold during the price drop. Just before the closing, the RSI turned to bull and rose to 87.68, indicating that Bitcoin Cash was overbought. At the time of writing, the RSI was 53.48.