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February 24, 2023
BCH remains constrained within a $137.81 to $139.43 range and is currently trading around the $137.83 level.
Bitcoin Cash's upper Bollinger Band® is at $145.15 which indicates a further downward move may follow. Despite this, BCH could begin to recover as it approaches significant support, now $1.38 away from $136.45. Dipping below could be an indication that further losses are ahead.
In the short term, Bitcoin Cash is expected to maintain its recent downtrend and continue spiralling lower.
In the meantime, negative performances are also seen in other markets, Tezos USD is down $0.028 from the beginning of the session and now trades around $1.32.
Positive performances can be seen by looking at other markets as FTX Token gained 9.54% and is currently trading at $1.36. UNICORN Token USD is up 1.62%.
BCH has managed to gain 42.78% so far this year despite trading at lows around $88.95 previously. Bitcoin Cash is currently trading with a market cap of 2.66 billion with an average daily volume of 156.68 million.
