Bearish Bitcoin Cash currently $0.641 lower after trading as high as $116.78

BCH drops from $116.61 to $115.97, losing $0.641 (0.55%) today.

Bitcoin Cash's upper Bollinger Band® is at $117.85 which indicates a further downward move may follow. On the other hand, note that BCH could begin to recover as it approaches significant support, now $2 away from $113.97. Dipping below could be an indication that further losses are ahead.

Following today's unexpected losses, extensive multifactorial technical analysis forecasts BCH to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the BCH is expected to attract significant bearish sentiment in the coming days.

In the meantime, negative performances are also seen in other markets, after ending today's session at $0.912, EOS lost $0.012 and is trading around $0.9.

Other assets are showing positive performances as FTX Token gained 9.54% and is currently trading at $1.36. Tezos USD gained 1.27% and is now trading at $0.939.

Having soared to a high of $204.51 approximately 11 months ago, BCH is now trading 42.98% lower. Bitcoin Cash is currently trading with a market cap of 2.25 billion with an average daily volume of 101.18 million.