Bitcoin Cash was trading with very low volatility as its traders appeared to be waiting on the sidelines for the market to make a move. Further down the cryptocurrency ladder, IOTA and DASH could be headed lower, with the cryptos lacking any momentum in the short-term.
Bitcoin Cash [BCH]
Bitcoin Cash was exhibiting significantly low volatility, as highlighted by the convergence of the Bollinger Bands around BCHs price. Over the previous week, BCHs price oscillated between $230 and $236, with the buyers and sellers equally strong.
However, the cryptocurrencys price was moving towards the lower band, at the time of writing, and if the Bollinger Bands were to expand in subsequent sessions, alongside above-average trading volumes, a break-out to the downside could be confirmed.
Bitcoin Cash made its way into the news a couple of days ago in an unexpected fashion when a person going by the moniker Bitcoin Man of Bakersfield placed 100 BCH QR code stickers, worth $1100, around the city of Bakersfield. Local news reports suggested the person did this in an attempt to promote crypto-adoption while making people aware of the scam of fractional reserve banking.
The 20 SMA (white) crossed beneath the 50 SMA (yellow) on the charts, however, the two moving averages have been close together over the past few days. This suggested that IOTA has been lacking momentum and
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