BCH cryptocurrency trades up $2.49, approximately 2.44% higher going into tomorrow

Tentatively higher from an earlier low of $101.78, BCH is up to $104.26 today, adding $2.49, or 2.44%, to today's closing price of $101.78.

Bitcoin Cash made an initial breakout above its 5 day Simple Moving Average at $104.21, a potential indicator of a newly emerging bullish phase. Bitcoin Cash's lower Bollinger Band® is at $99.41, indicating that the market is oversold and fertile for new buyers. On the other hand, note that although BCH is appreciating today after rising as high as $104.87, price action is now slowing and consolidating around 46 cents below the $104.73 resistance level.

Following today's unexpected gains, extensive multifactorial technical analysis forecasts BCH to buck against its prevailing downtrend and begin to turn higher in the short term. With all probabilities considered, the Bitcoin Cash is expected to pick up significant bullish sentiment in the coming days.

Other markets are also showing gains as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.

Meanwhile, MaticNetwork USD slips 4.36% to trade around $0.591. After ending today's session at $4.56, Polkadot lost $0.18 and is trading around $4.38.

Bitcoin Cash has shed 17.61% over the past three months. Bitcoin Cash is currently trading with a market cap of 2 billion with an average daily volume of 77.82 million.