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May 13, 2023
BCH slides down from $114.98 to $113.31 today, losing $1.66 (1.45%).
Bitcoin Cash made an initial break below its 3 day Simple Moving Average at $114.1, a possible indication of a forthcoming negative trend. On the other hand, note that BCH could begin to recover as it approaches significant support, now 90 cents away from $112.41. Dipping below could be an indication that further losses are ahead. BCH's lower Bollinger Band® is at $111.21, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for BCH.
In the meantime, negative performances are also seen in other markets, UNICORN Token USD stumbles 2.98% to trade around $6.43. Ripple is down $0.006 from the beginning of the session and now trades around $0.425.
Positive performances can be seen by looking at other markets as FTX Token is up 9.54%.
Approximately 11 months ago, BCH reached a significant high of $214.54 but has struggled to hold onto its gains and declined 46.41% since then. BCH has a market cap of 2.20 billion with an average daily volume of 116.33 million.
