Mixed sentiment leads Bitcoin Cash cryptocurrency to trade sideways; establishes tight $114.51 to $115.32 range

Without a clear-cut direction, BCH is trading around $115.29 and ranging between $114.51 and $115.32.

Chart analysis suggests Bitcoin Cash is approaching key support, around 61 cents away from $114.68. 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. With regards to technical trend indicators, chart analysis show that BCH made an initial breakout above its 21 day Simple Moving Average at $115.16, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, BCH's upper Bollinger Band® is at $118, suggesting that a downward move may follow.

Overall, while Bitcoin Cash has been on an uptrend, technical indicators suggest that it has no obvious direction 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 stumbles 2.98% to trade around $6.43. EOS is up 1.32%.

Approximately 11 months ago, BCH reached a significant high of $204.51 but has struggled to hold onto its gains and declined 43.76% since then. Bitcoin Cash is currently trading with a market cap of 2.24 billion with an average daily volume of 99.68 million.