BCH drops $1.9 early on and steadies around the $109.04 level.
Bitcoin Cash could begin to recover as it approaches significant support, now $1.07 away from $107.97. Dipping below could be an indication that further losses are ahead. Despite drifting lower in the trading session, the short-term outlook has turned positive after the MACD moved above its signal line — typically a bullish indicator. BCH's lower Bollinger Band® is at $102.4, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Technical analysis indicates that BCH (currently on a downtrend) might reverse course and start pointing upward in the short term.
In the meantime, negative performances are also seen in other markets, after ending today's session at $0.469, Ripple lost $0.013 and is trading around $0.456. EOS closed at $1.07 (down 2.27%). Bitcoin is down to $19,350, losing $228.13, after closing at $19,578 in the preceding trading session.
11 months ago Bitcoin Cash reached a significant high of $717.11 but has consequently lost 84.53% since then. Bitcoin Cash has a market cap of 2 billion with an average daily volume of 7.92 million.