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April 04, 2023Struggling to find upward momentum, Bitcoin Cash has shed $0.688 to currently trade at $127.08 as it ranges between $126.97 and $128.18 so far today.
Bitcoin Cash could begin to recover as it approaches significant support, now $4.29 away from $122.79. Dipping below could be an indication that further losses are ahead. Despite being in the red so far in the current trading session, BCH peaked above its 50 day Simple Moving Average around $127.9 — typically an early indicator of a new bullish trend beginning to emerge.
Overall, looking at the technical analysis landscape, it seems Bitcoin Cash might start pointing upward in the short term.
In the meantime, negative performances are also seen in other markets, Ripple is down $0.006 from the beginning of the session and now trades around $0.489.
Other assets are showing positive performances as FTX Token jumps 9.54% to trade around $1.36. Dogecoin gained 3.05% and is currently trading at $0.1.
BCH has shed $250.59 points and is languishing 66.23% lower over the past year, leaving its yearly highs around $378.78 in the rear-view mirror. BCH has a market cap of 2.46 billion with an average daily volume of 180.30 million.
