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

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.

TokenPost | [email protected]