Tough start for BCH this morning following 0.66% decline; now at $107.24

Bitcoin Cash is down to $107.24, after ending today at $107.95. Overall, a 0.66% loss or $0.711 today.

Bitcoin Cash could begin to recover as it approaches significant support, now $3 away from $104.26. Dipping below could be an indication that further losses are ahead. Despite drifting lower in the trading session, the short-term outlook has turned positive after the MACD moved above its signal line — typically a bullish indicator. BCH's lower Bollinger Band® is at $100.03, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

Overall, looking at the technical analysis landscape, it seems BCH might start pointing upward in the short term.

Positive performances can be seen by looking at other markets as FTX Token is up 9.54%.

BCH is now trading 21.19% below its 3-month high of $155.82. Bitcoin Cash has a market cap of 2 billion with an average daily volume of 78 million.