After three days of going down, BCH is flat today, hovering around $117.12

Bitcoin Cash is now trading at $117.12 after tracing out a steady $116.63 – $117.12 range today.

Bitcoin Cash is approaching key support, around $2.04 away from $115.08. 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 $119.14, a potential indicator of a newly emerging bullish phase. BCH's upper Bollinger Band® is at $135.32 and the lower is $110.08.

Despite muted price action in BCH, chart analysis indicates it is positioned for a bullish run in the short term.

While BCH is pretty flat so far today, mixed performances are seen elsewhere as FTX Token jumps 9.54% to trade around $1.36. Binance Coin closed at $323.91 (down 1.26%). Having closed the previous session at $6.37, UNICORN Token USD is up 1.62% today to currently trade at around $6.47.

BCH is trading 59% lower compared to the $284.41 high it reached over the past year. Bitcoin Cash has a market cap of 2.27 billion with an average daily volume of 113.52 million.