Bearish BCH currently $1.34 lower after trading as low as $129.9

After ending today at $131.24, today Bitcoin Cash went up to $134.26 before paring back gains and settling around $129.9.

Chart analysis indicates Bitcoin Cash could begin to recover as it approaches significant support, now 99 cents away from $128.91. Dipping below could be an indication that further losses are ahead. Trend analysis indicates 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 asset volatility analysis, BCH's upper Bollinger Band® is at $132.29 which indicates a further downward move may follow.

Notwithstanding BCH's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

In the meantime, negative performances are also seen in other markets, EOS is trading around $1.22 (down $0.041).

Other assets are showing positive performances as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Cosmos USD ascends 3.27% to trade around $12.21.

BCH is trading 62.06% lower compared to the $345.63 high it reached over the past year. BCH is currently trading with a market cap of 2.52 billion with an average daily volume of 125.17 million.