Without a clear-cut direction, BCH is trading around $122.83 and ranging between $120.64 and $124.56.
Bitcoin Cash is approaching key support, around $1.4 away from $121.43. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. BCH made an initial breakout above its 3 day Simple Moving Average at $124.36, a potential indicator of a newly emerging bullish phase. Bitcoin Cash's upper Bollinger Band® is at $141.6 and the lower is $122.41.
Although price action remains in a stalemate, technical analysis suggests BCH could be primed for a break to the upside.
Other markets show mixed performance as after ending today's session at $312.45, Binance Coin lost $22.11 and is trading around $290.34. FTX Token jumps 9.54% to trade around $1.36. MaticNetwork USD closed at $1.16 (down 5.9%).
10 months ago BCH reached a significant high of $385.82 but has consequently lost 68.16% since then. BCH has a market cap of 2.37 billion with an average daily volume of 35.33 million.