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Crypto Technicals: BCH/USD edges lower from 5-week highs at 358.58, finds stiff resistance at daily cloud

Wed, 14 Aug 2019, 11:13 am UTC

BCH/USD chart - Trading View

Exchange -Coinbase

Support: 331 (nearly converged 21-EMA and 200H SMA); Resistance: 353.87 (cloud base)

Technical Analysis: Bias Neutral

Bitcoin Cash has retraced from 5-week highs at 358.58 and was trading at 337.98 at 10:45 GMT.

Upside in the pair finds stiff resistance at daily cloud. Further gains to be limited.

Price action has retraced below 55-EMA (345.45). Technical indicators on intraday charts are turning bearish.

MACD is showing a bearish crossover on signal line and -ve DMI crossover on +ve DMI seen on the hourly charts.

Strong support is seen at 331 (nearly converged 21-EMA and 200H SMA). Decisive break below with rise in volatility will confirm weakness.

On the flipside, breakout above cloud required for upside continuation.

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  • Bitcoin (BTC) $10,102.30 (-0.24%)
  • Ethereum (ETH) $186.75 (-1.93%)
  • XRP (XRP) $0.269600 (-0.85%)
  • Bitcoin Cash (BCH) $305.40 (-0.40%)
  • Litecoin (LTC) $72.31 (-1.40%)
  • Bitcoin (BTC) $10,102.30 (-0.24%)
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