Bitcoin Cash has rallied $1.9, or 1.91%, to now stand at $101.51.
Bitcoin Cash made an initial breakout above its 21 day Simple Moving Average at $101.48, a potential indicator of a newly emerging bullish phase. On the other hand, note that BCH price action is currently oscillating around the $100.41 resistance level with prices moving above and below several times during the session. Bitcoin Cash's upper Bollinger Band® is at $104.25, this is a slight indication of a slowdown.
According to technical analysis, it looks as if Bitcoin Cash likely to continue pointing upward in the short term.
BCH shows positive signs, other assets are also on par: having closed the previous session at $1.33, NEAR Protocol is up 15.13% today to currently trade at around $1.54. Having closed the previous session at $0.887, FTX Token is up 6.85% today to currently trade at around $0.948. Binance Coin added 3.67% to its value, now trading at $255.15.
BCH has shed $345.4 points and is languishing 77.62% lower over the past year, leaving its yearly highs around $445 in the rear-view mirror. Bitcoin Cash is currently trading with a market cap of 1.96 billion with an average daily volume of 5.32 million.