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June 26, 2023BCH falls to $192.54, following mixed behavior today as it ranges between $189.46 and $197.43.
Trend and momentum analysis indicates that Bitcoin Cash made an initial break below its 3 day Simple Moving Average at $188.55, a possible indication of a forthcoming negative trend. Momentum evaluation shows that the Relative Strength Index indicates Bitcoin Cash is currently 'overbought' which suggests new gains will be harder to obtain. Visual analysis of BCH's chart shows that Bitcoin Cash could begin to recover as it approaches significant support, now $12.28 away from $180.26. Dipping below could be an indication that further losses are ahead.
All in all, the technical analysis suggests Bitcoin Cash has no clear-cut direction.
Positive performances can be seen by looking at other markets as NEAR Protocol is up 12.15%. Having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. EOS is up 3.31%.
Bitcoin Cash has fallen back around 8% from the significant high of $212.63 set 3 days ago. BCH is currently trading with a market cap of 3.74 billion with an average daily volume of 291.15 million.
