Marginally higher but lacking a clear-cut direction, BCH is trading at $115.37 after ranging between $113.35 and $115.51 today.
Bitcoin Cash could be slowing down soon; it is getting close to the resistance line and is now at $120.27, only $4.89 away. Crossing the resistance line could, however, suggest that further gains are ahead. Bollinger Band® analysis indicates that current price action is approaching the upper band at $121.65, thereby suggesting that BCH is becoming overvalued.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest Bitcoin Cash is set for a reversal in the coming days.
Other markets are also showing gains as having closed the previous session at $1,183, Ethereum is up 1.54% today to currently trade at around $1,201.24. Having closed the previous session at $0.052, TRON is up 0.64% today to currently trade at around $0.052.
At the same time, after ending today's session at $0.381, Ripple lost $0.003 and is trading around $0.378.
BCH hit a significant low of $88.95 around 15 days ago, but has since recovered 29%. Bitcoin Cash is currently trading with a market cap of 2.22 billion with an average daily volume of 15.56 million.