Slightly weaker but mostly flat: Bitcoin Cash is currently trading at $112.66 as it maintains an active range between $112.18 and $116.72.
Trend-following investors would be interested to note 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, Bitcoin Cash's upper Bollinger Band® is at $116.38 which indicates a further downward move may follow. As the trading day comes to an end, chart analysis indicates BCH 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.
Overall, while BCH 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%). After ending today's session at $1,566.55, Ethereum lost $53 and is trading around $1,513.55.
Other assets are showing positive performances as Dogecoin is up 6.46%.
Bitcoin Cash is now trading 84% below the significant high of $717.11 it set around 11 months ago. BCH has a market cap of 2.16 billion with an average daily volume of 7.30 million.