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July 03, 2023Trading lower, Bitcoin Cash is currently down $5.82 as it ranges between $292.05 and $300.87 so far today.
Technical analysis trend indicators suggest that Bitcoin Cash made an initial break below its 3 day Simple Moving Average at $295.8, a possible indication of a forthcoming negative trend. Momentum evaluation shows that the Relative Strength Index indicates Bitcoin Cash is in a strong overbought condition. A study of BCH's chart reveals various key levels to watch: BCH could begin to recover as it approaches significant support, now $16.92 away from $275.95. Dipping below could be an indication that further losses are ahead.
With market volatility ebbing, the current technical outlook indicates Bitcoin Cash will remain range-bound for the immediate future.
Positive performances can be seen by looking at other markets as FTX Token rallies 9.54% to trade around $1.36. TRON is up 1.78%. Algorand USD is up 3.63%.
The past 3 months have been positive for BCH as it added 128.76% compared to its 3-month low of $88.95. Bitcoin Cash has a market cap of 5.69 billion with an average daily volume of 756.39 million.
