Is it the end of BCH's rally? After four days of gains, it is down by 1.14% today

Bitcoin Cash is range-bound between $126.06 and $129.69 today after shedding $1.48 and closing at $129.25 today.

Bitcoin Cash made an initial break below its 50 day Simple Moving Average at $127.23, a possible indication of a forthcoming negative trend. Bearish sentiment was sufficient to push prices below the known Fib level of $128.47 serving as intraday support. BCH's upper Bollinger Band® is at $130.3 which indicates a further downward move may follow. On the other hand, note that after reaching the $127.7 support zone, Bitcoin Cash bounced and climbed 8 cents above it.

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 Bitcoin Cash is expected to attract significant bearish sentiment in the coming days.

In the meantime, negative performances are also seen in other markets, TRON is down $0.002 from the beginning of the session and now trades around $0.064. Dogecoin slides down 2.52% to trade around $0.082.

Positive performances can be seen by looking at other markets as FTX Token rallies 9.54% to trade around $1.36.

Approximately 11 months ago, Bitcoin Cash reached a significant high of $345.63 but has struggled to hold onto its gains and declined 62.6% since then. Bitcoin Cash is currently trading with a market cap of 2.47 billion with an average daily volume of 139.25 million.