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May 28, 2023
Tentatively higher from an earlier low of $113.85, BCH is up to $114.79 today, adding $0.792, or 0.7%, to today's closing price of $114.
As the trading day commences, technical analysis suggests after reaching the known resistance zone beginning at $114.96, Bitcoin Cash price action retreated approximately 16 cents. With regards to technical trend indicators, chart analysis show that Bitcoin Cash made an initial breakout above its 10 day Simple Moving Average at $114.41, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that Bitcoin Cash's upper Bollinger Band® is at $117.85, this is a slight indication of a slowdown.
With market volatility ebbing, the current technical outlook indicates BCH will remain range-bound for the immediate future.
Bitcoin Cash shows positive signs, other assets are also on par: FTX Token soars 9.54% to trade around $1.36. Having closed the previous session at $0.077, TRON is up 0.96% today to currently trade at around $0.078. Chainlink USD is up 2.03%.
Over the past 11 months, BCH has retreated 44.26% from a noteworthy peak of $204.51. BCH has a market cap of 2.23 billion with an average daily volume of 101.38 million.
