BCH is down 2.22%, trading at $113.19

BCH drops from $115.76 to $113.19, losing $2.57 (2.22%) 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. Despite this, Bitcoin Cash could begin to recover as it approaches significant support, now $1 away from $112.18. Dipping below could be an indication that further losses are ahead. Bollinger Bands® shows an indication of recovery: the lower band is at $112.81, a low enough level to, generally, suggest that Bitcoin Cash is trading below its fair value.

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 BCH.

In the meantime, negative performances are also seen in other markets, Cardano closed at $0.356 (down 3.69%). Dogecoin descends 2.39% to trade around $0.071.

Positive performances can be seen by looking at other markets as FTX Token gained 9.54% and is currently trading at $1.36.

Over the past 11 months, Bitcoin Cash has retreated 46.04% from a noteworthy peak of $214.54. Bitcoin Cash has a market cap of 2.19 billion with an average daily volume of 116.71 million.