BCH trades at $121.26 after gaining $5.54 (4.79%).
Bitcoin Cash made an initial breakout above its 5 day Simple Moving Average at $115.66, a potential indicator of a newly emerging bullish phase. Bitcoin Cash is currently trading around the $115.91 Fibonacci resistance level. BCH has crossed the upper Bollinger Band® at $120.78, a potential sign that further gains are to follow. Despite this, Bitcoin Cash price action is currently oscillating around the $119.38 resistance level with prices moving above and below several times during the session.
Overall, looking at the technical analysis landscape, it seems BCH might continue pointing upwards in the short term.
Other markets are also showing gains as MaticNetwork USD gained 18.54% and is now trading at $1.13. Cosmos USD gained 8.67% and is currently trading at $14.68. Binance Coin leaps up 5% to trade around $346.09.
11 months ago BCH reached a significant high of $717.11 but has consequently lost 83.86% since then. BCH is currently trading with a market cap of 2.33 billion with an average daily volume of 8.30 million.