Bitcoin Cash Price Stuck in Bearish Trend Despite Ecosystem Advancements

The Bitcoin Cash ecosystem has been making significant strides in recent times, as showcased at the Cash 3.0 conference between July 31 and August 2.

Paytaca demonstrated a self-custodial NFC payment card, which is expected to boost merchant adoption of BCH.

A zk-SNARK shielded pool was also unveiled to enhance transaction privacy on Bitcoin Cash's test network Chipnet. While these advancements have garnered public interest, the price action has not followed suit.

The 1-day chart for BCH/USDT shows a bearish trend, with seller dominance prevailing in the market.

The CMF indicator has climbed back into the neutral area, but it does not indicate significant capital flow to signal a new short-term price trend.