BCH cryptocurrency trades up $2.45, approximately 2.05% higher going into tomorrow

Tentatively higher from an earlier low of $119.35, BCH is up to $122.24 today, adding $2.45, or 2.05%, to today's closing price of $119.79.

Bitcoin Cash made an initial breakout above its 3 day Simple Moving Average at $120.77, a potential indicator of a newly emerging bullish phase. Price action remains constrained around the key Fibonacci level of $120.89 currently serving as resistance. If broken, the next Fib hurdle is expected to be $123.4. Bitcoin Cash's lower Bollinger Band® is at $118.64, indicating that the market is oversold and fertile for new buyers. Despite this, Bitcoin Cash could be slowing down soon; it is getting close to the resistance line and is now at $123.09, only 85 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.

Bitcoin Cash continues to move higher with technical analysis indicating the trend will continue in the short term.

Bitcoin Cash shows positive signs, other assets are also on par: FTX Token rallies 9.54% to trade around $1.36. Ripple improves 4.38% to trade around $0.47. Binance Coin is up 2.81%.

BCH has shed $209.52 points and is languishing 63.62% lower over the past year, leaving its yearly highs around $329.19 in the rear-view mirror. BCH is currently trading with a market cap of 2.37 billion with an average daily volume of 116.23 million.