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June 27, 2023BCH reached $236, breaking a 1 year record. Later, it lost $5.44 and is now trading at $230.56.
With regards to technical trend indicators, chart analysis show that investors are seeking long positions as Bitcoin Cash price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to momentum evaluation, the Relative Strength Index indicates BCH is in a strong overbought condition. According to asset volatility analysis, Bitcoin Cash's upper Bollinger Band® is at $236.66, this is a slight indication of a slowdown. Technical analysis shows that although Bitcoin Cash is appreciating today after rising as high as $236, price action is now slowing and consolidating around $7.12 below the $237.68 resistance level.
Notwithstanding BCH's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
BCH shows positive signs, other assets are also on par: having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. TRON is up 1.46%. Having closed the previous session at $0.645, MaticNetwork USD is up 3.08% today to currently trade at around $0.665.
A day ago BCH reached a significant high of $224.78 but has consequently lost 0.84% since then. Bitcoin Cash is currently trading with a market cap of 4.48 billion with an average daily volume of 297.38 million.
