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March 05, 2023
Marginally higher but lacking a clear-cut direction, BCH is trading at $125.11 after ranging between $124.1 and $126.16 today.
Bitcoin Cash made an initial breakout above its 3 day Simple Moving Average at $127.86, a potential indicator of a newly emerging bullish phase. Bitcoin Cash's lower Bollinger Band® is at $122.18, indicating that the market is oversold and fertile for new buyers. In contrast, Bitcoin Cash could be slowing down soon as it approaches resistance at $126.77. Of course, crossing it might suggest further gains are ahead.
Bitcoin Cash continues to move higher with technical analysis indicating the trend will continue in the short term.
Other markets are also showing gains as FTX Token gained 9.54% and is now trading at $1.36. TRON added 1.32% to its value, now trading at $0.068.
Meanwhile, UNICORN Token USD closed at $6.43 (down 2.98%).
Bitcoin Cash has fallen back around 67.77% over the past 11 months, from a notable high of $385.82. Bitcoin Cash has a market cap of 2.42 billion with an average daily volume of 219.54 million.
