Is it the end of BCH's rally? After three days of gains, it is down by 0.61% today

Bitcoin Cash remains constrained within a $114.44 to $116.81 range and is currently trading around the $115.53 level.

Bitcoin Cash made an initial break below its 10 day Simple Moving Average at $115.26, a possible indication of a forthcoming negative trend. BCH's upper Bollinger Band® is at $122.27 which indicates a further downward move may follow. Despite this, BCH could begin to recover as it approaches significant support, now 2 cents away from $115.55. Dipping below could be an indication that further losses are ahead.

Following today's unexpected losses, extensive multifactorial technical analysis forecasts Bitcoin Cash 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, after ending today's session at $6.63, UNICORN Token USD lost $0.197 and is trading around $6.43. Ripple closed at $0.424 (down 0.98%).

Other assets are showing positive performances as FTX Token is up 9.54% to $1.36.

Approximately 11 months ago, BCH reached a significant high of $207.16 but has struggled to hold onto its gains and declined 43.89% since then. Bitcoin Cash has a market cap of 2.24 billion with an average daily volume of 117.57 million.