BCH gains positive traction for a 4th successive day

After closing at $128.17 today, Bitcoin Cash began today at $128.17 with significant bullish sentiment driving Bitcoin Cash's price action higher. So far today, price action has drawn out a distinct $127.67 to $129.24 range.

Technical analysis trend indicators suggest that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Asset volatility analysis shows that Bitcoin Cash's upper Bollinger Band® is at $129.39, this is a slight indication of a slowdown. As the day gets underway, chart analysis suggests Bitcoin Cash could be slowing down soon as it approaches resistance at $129.16. Of course, crossing it might suggest further gains are ahead.

Overall, while Bitcoin Cash has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

Other markets are also showing gains as FTX Token surges 9.54% to trade around $1.36. Binance Coin is up 2.06%. Bitcoin is up 1.33% to $30,045.

BCH reached a significant high of $345.63 around 11 months ago but has lost 62.92% since then. Bitcoin Cash has a market cap of 2.49 billion with an average daily volume of 143.58 million.