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April 20, 2023
Without a clear-cut direction, BCH is trading around $125.29 and ranging between $124.87 and $126.46.
Bitcoin Cash made an initial breakout above its 50 day Simple Moving Average at $126.51, a potential indicator of a newly emerging bullish phase. BCH's upper Bollinger Band® is at $134.86 and the lower is $121.53. BCH is approaching key support, around $2.59 away from $122.7. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Despite muted price action in Bitcoin Cash, chart analysis indicates it is positioned for a bullish run in the short term.
Other markets show mixed performance as FTX Token gained 9.54% and is currently trading at $1.36. Dogecoin gained 2.87% and is now trading at $0.091. After ending today's session at $6.63, UNICORN Token USD lost $0.197 and is trading around $6.43.
Bitcoin Cash has shed $210.68 points and is languishing 62.78% lower over the past year, leaving its yearly highs around $336.14 in the rear-view mirror. BCH has a market cap of 2.43 billion with an average daily volume of 116.99 million.
