Slightly weaker but mostly flat: BCH is currently trading at $112.66 as it maintains an active range between $112.18 and $116.72.
As the trading day comes to an end, chart analysis indicates Bitcoin Cash could begin to recover as it approaches significant support, now $1.66 away from $114.32. Dipping below could be an indication that further losses are ahead. Trend and momentum analysis indicates that despite being in the red so far in the current trading session, Bitcoin Cash peaked above its 50 day Simple Moving Average around $115.63 — typically an early indicator of a new bullish trend beginning to emerge. BCH is currently flirting with an active Fibonacci support level around $114. According to asset volatility analysis, BCH's upper Bollinger Band® is at $116.38 which indicates a further downward move may follow.
Overall, while Bitcoin Cash has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
In the meantime, negative performances are also seen in other markets, Bitcoin closed at $20,268 (down 2.44%). Ethereum slides down 3.38% to trade around $1,513.55.
Other assets are showing positive performances as having closed the previous session at $0.073, Dogecoin is up 6.46% today to currently trade at around $0.077.
Approximately 11 months ago, Bitcoin Cash reached a significant high of $717.11 but has struggled to hold onto its gains and declined 84% since then. Bitcoin Cash has a market cap of 2.16 billion with an average daily volume of 7.30 million.