BCH is trading around $129.86, down by $3.67 (2.75%)

Bitcoin Cash slides down from $133.53 to $129.86 today, losing $3.67 (2.75%).

Bitcoin Cash made an initial break below its 5 day Simple Moving Average at $132.97, a possible indication of a forthcoming negative trend. Bitcoin Cash's upper Bollinger Band® is at $135.37 which indicates a further downward move may follow. In contrast, Bitcoin Cash could begin to recover as it approaches significant support, now $1.28 away from $131.14. Dipping below could be an indication that further losses are ahead.

Overall, looking at the technical analysis landscape, it seems BCH is likely to continue pointing down in the short term.

In the meantime, negative performances are also seen in other markets, EOS is down to $1.15, losing $0.068, after closing at $1.22 in the preceding trading session. Bitcoin is trading around $29,500 (down $863.35).

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

BCH has shed $206.96 points and is languishing 60.78% lower over the past year, leaving its yearly highs around $339.89 in the rear-view mirror. Bitcoin Cash is currently trading with a market cap of 2.52 billion with an average daily volume of 118.37 million.