Tentatively higher from an earlier low of $107.9, Bitcoin Cash is up to $111.31 today, adding $3.41, or 3.16%, to today's closing price of $107.9.
Chart analysis suggests Bitcoin Cash broke through the $110.34 resistance, climbing 97 cents above it. Technical analysis trend indicators suggest that BCH made an initial breakout above its 10 day Simple Moving Average at $108.39, a potential indicator of a newly emerging bullish phase. Japanese candlestick formations show a "bearish engulfing" pattern — a scenario when a larger red candle engulfs a smaller green candle, at the top of a prevailing uptrend. Typically this is a signal of lower prices in the near term. Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at $118.14, thereby suggesting that Bitcoin Cash is becoming overvalued.
Overall, while Bitcoin Cash has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Bitcoin Cash shows positive signs, other assets are also on par: Ethereum gained 3.53% and is now trading at $1,391.52. Having closed the previous session at $0.358, Cardano is up 4.15% today to currently trade at around $0.373. Polkadot climbs 3.59% to trade around $6.13.
11 months ago Bitcoin Cash reached a significant high of $717.11 but has consequently lost 84.95% since then. BCH is currently trading with a market cap of 2.14 billion with an average daily volume of 7.86 million.