After closing at $115 today, BCH began today at $115 with significant bullish sentiment driving BCH's price action higher. So far today, price action has drawn out a distinct $113.55 to $118.48 range.
Bitcoin Cash is $2.6 away from testing key resistance at $115.88. Peaking above this level could inspire market bulls and open the path to further gains. Despite posting gains so far today, Bitcoin Cash slid below its 50 day Simple Moving Average at $114.41 in earlier trade — an early indicator that a negative trend could be emerging. BCH's upper Bollinger Band® is at $119.39, this is a slight indication of a slowdown.
Technical analysis suggests there could be an imminent reversal for Bitcoin Cash.
Bitcoin Cash shows positive signs, other assets are also on par: Litecoin gained 10.35% and is currently trading at $60.82.
Meanwhile, Dogecoin is trading around $0.139 (down $0.003). Avalanche is down $0.481 from the beginning of the session and now trades around $18.15.
BCH reached a significant high of $717.11 around 11 months ago but has lost 83.96% since then. Bitcoin Cash is currently trading with a market cap of 2.28 billion with an average daily volume of 7.91 million.