BCH cryptocurrency trades up $1.52, approximately 1.34% higher going into tomorrow

After closing at $113.36 today, Bitcoin Cash began today at $113.36 with significant bullish sentiment driving Bitcoin Cash's price action higher. So far today, price action has drawn out a distinct $113.12 to $115.19 range.

Following today's trading session, chart analysis suggests Bitcoin Cash could be slowing down soon as it approaches resistance at $113.88. Of course, crossing it might suggest further gains are ahead. Trend-focused traders would be interested to note that BCH made an initial breakout above its 21 day Simple Moving Average at $114.68, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $117.89, thereby suggesting that Bitcoin Cash is becoming overvalued.

With market volatility ebbing, the current technical outlook indicates BCH will remain range-bound for the immediate future.

Other markets are also showing gains as TRON leaps up 9% to trade around $0.081. Having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Ripple goes up 3.38% to trade around $0.524.

BCH is now trading 15% below its 3-month high of $189.03. BCH has a market cap of 2.23 billion with an average daily volume of 79.82 million.