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May 19, 2023
A mostly flat day so far for BCH, ranging between $114.89 and $116; currently at $115.37.
A study of Bitcoin Cash's chart reveals various key levels to watch: Bitcoin Cash is approaching key support, around $3.25 away from $112.12. 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. Trend-following investors would be interested to note that Bitcoin Cash made an initial breakout above its 10 day Simple Moving Average at $116.36, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, BCH's upper Bollinger Band® is at $121.63, suggesting that a downward move may follow.
The current technical outlook indicates BCH will continue to ebb sideways within tight ranges for the immediate future.
While Bitcoin Cash is pretty flat so far today, mixed performances are seen elsewhere as FTX Token is up 9.54%. UNICORN Token USD closed at $6.43 (down 2.98%). Litecoin is up 2.16%.
Bitcoin Cash has fallen back around 43.59% from the significant high of $204.51 set 11 months ago. Bitcoin Cash is currently trading with a market cap of 2.24 billion with an average daily volume of 112.49 million.
