After closing at $124.17 today, Bitcoin Cash began today at $124.17 with significant bullish sentiment driving Bitcoin Cash's price action higher. So far today, price action has drawn out a distinct $124 to $125.55 range.
Bitcoin Cash made an initial breakout above its 3 day Simple Moving Average at $125.02, a potential indicator of a newly emerging bullish phase. Bitcoin Cash's lower Bollinger Band® is at $120.59, indicating that the market is oversold and fertile for new buyers. Despite this, after reaching the known resistance zone beginning at $125.91, Bitcoin Cash price action retreated approximately $1.06.
Bitcoin Cash continues to move higher with technical analysis indicating the trend will continue in the short term.
BCH shows positive signs, other assets are also on par: FTX Token is up 9.54%.
At the same time, EOS is down to $1.19, losing $0.02, after closing at $1.21 in the preceding trading session. Algorand USD slips 2.04% to trade around $0.221.
Approximately 11 months ago, Bitcoin Cash reached a significant high of $385.82 but has struggled to hold onto its gains and declined 67.82% since then. Bitcoin Cash has a market cap of 2.41 billion with an average daily volume of 217 million.