BCH down $2.71 reaching $113.47, for its 4th straight negative day

After a mostly steady day, BCH loses $2.71 late into the session, trading at $113.47.

The MACD index is indicating that momentum is shifting from bullish to bearish following a negative crossover. When the MACD falls below the signal line, it is typically considered to be a bearish development favoring short positions. A crossing of the lower Bollinger Band® at $114.51 suggests further losses may follow for BCH. Bitcoin Cash broke through the $115.15 support line and dropped $1.68 below it.

In the short term, Bitcoin Cash is expected to maintain its recent downtrend and continue spiralling lower.

In the meantime, negative performances are also seen in other markets, after ending today's session at $0.449, Ripple lost $0.01 and is trading around $0.439. Algorand USD closed at $0.167 (down 3.78%).

Other assets are showing positive performances as FTX Token is up 9.54% to $1.36.

Over the past a year, Bitcoin Cash has retreated 55.61% from a noteworthy peak of $261.77. Bitcoin Cash is currently trading with a market cap of 2.20 billion with an average daily volume of 102.30 million.