BCH ended the previous session at $112.12; currently trading at $111.15

Bitcoin Cash drops from $112.12 to $111.15, losing $0.965 (0.86%) today.

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. BCH formed a session range of $110.42 to $112.16 leaving buyers and sellers highly concentrated around an active Fibonacci support level of $111.31. On the other hand, note that Bitcoin Cash could begin to recover as it approaches significant support, now 64 cents away from $111.79. Dipping below could be an indication that further losses are ahead. Bitcoin Cash's lower Bollinger Band® is at $110.36, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for Bitcoin Cash.

In the meantime, negative performances are also seen in other markets, Cardano draws back 2.11% to trade around $0.357. After ending today's session at $0.155, Algorand USD lost $0.004 and is trading around $0.15.

Positive performances can be seen by looking at other markets as FTX Token is up 9.54%.

Having soared to a high of $204.51 approximately 11 months ago, BCH is now trading 45.18% lower. BCH has a market cap of 2.16 billion with an average daily volume of 104.12 million.