Bitcoin Cash cryptocurrency trades up $0.369, approximately 0.31% higher this morning

Marginally higher but lacking a clear-cut direction, BCH is trading at $118.18 after ranging between $117.71 and $118.3 today.

Bitcoin Cash made an initial breakout above its 200 day Simple Moving Average at $118.36, a potential indicator of a newly emerging bullish phase. BCH's lower Bollinger Band® is at $111.37, indicating that the market is oversold and fertile for new buyers. Despite this, BCH could be slowing down soon as it approaches resistance at $120.35. Of course, crossing it might suggest further gains are ahead.

Following today's unexpected gains, extensive multifactorial technical analysis forecasts Bitcoin Cash to buck against its prevailing downtrend and begin to turn higher in the short term. With all probabilities considered, the BCH is expected to pick up significant bullish sentiment in the coming days.

BCH shows positive signs, other assets are also on par: FTX Token is up 9.54%. Having closed the previous session at $6.37, UNICORN Token USD is up 1.62% today to currently trade at around $6.47.

In the meantime, TRON moves 0.47% to trade around $0.068.

BCH has fallen back around 58.58% over the past a year, from a notable high of $284.41. Bitcoin Cash is currently trading with a market cap of 2.29 billion with an average daily volume of 113.88 million.