After closing at $100.41 today, BCH began today at $100.41 with significant bullish sentiment driving BCH's price action higher. So far today, price action has drawn out a distinct $100.33 to $101.17 range.
Bitcoin Cash made an initial breakout above its 5 day Simple Moving Average at $101.1, a potential indicator of a newly emerging bullish phase. Bitcoin Cash's lower Bollinger Band® is at $97.72, indicating that the market is oversold and fertile for new buyers. On the other hand, note that Bitcoin Cash is 82 cents away from testing key resistance at $101.91. Peaking above this level could inspire market bulls and open the path to further gains.
Examining the technical analysis landscape, BCH might continue its downtrend in the short term.
Other markets are also showing gains as Dogecoin goes up 3.39% to trade around $0.076. Having closed the previous session at $0.872, FTX Token is up 2.86% today to currently trade at around $0.897. Having closed the previous session at $0.055, TRON is up 0.58% today to currently trade at around $0.055.
BCH has fallen back around 78.11% over the past 11 months, from a notable high of $458.68. Bitcoin Cash is currently trading with a market cap of 1.95 billion with an average daily volume of 7.67 million.