BCH slides down from $117.81 to $116.45 today, losing $1.36 (1.15%).
Despite being in the red so far in the current trading session, Bitcoin Cash peaked above its 200 day Simple Moving Average around $118.36 — typically an early indicator of a new bullish trend beginning to emerge. Bollinger Bands® shows an indication of recovery: the lower band is at $111.11, a low enough level to, generally, suggest that Bitcoin Cash is trading below its fair value.
Technical analysis shows that Bitcoin Cash (currently on a downtrend) might reverse course and start going up in the short term.
In the meantime, negative performances are also seen in other markets, Bitcoin falls 3.54% to trade around $28,200. Cosmos USD goes down 4.85% to trade around $10.95.
Positive performances can be seen by looking at other markets as FTX Token is up 9.54% to $1.36.
Having soared to a high of $284.41 approximately a year ago, Bitcoin Cash is now trading 58.58% lower. BCH has a market cap of 2.26 billion with an average daily volume of 113.88 million.