Crypto Technicals: Bitcoin Cash capped between 21 and 55 EMAs, breakout to provide clear directional bias

BCH/USD chart - Trading View

Exchange - Kraken

Support: 331.29 (21-EMA); Resistance: 349.54 (55-EMA)

Technical Analysis: Bias Neutral

BCH/USD is trading in an extremely narrow range with session highs at 338 and lows at 332.76.

Price action has been capped between major moving averages (21 and 55 EMAs), breakout will provide clear directional bias.

Stochs are on verge of rollover from overbought levels. Stochastics RSI is at overbought levels.

Bearish divergence on RSI and Stochs adds to the bearish bias for the pair. Break below 21-EMA will see further downside.

Next major support lies at 200-DMA at 275.17. Breach at 200-DMA to see major weakness.

55-EMA caps upside at 349.54. Break above will see resumption of upside. Next major resistance lies at cloud base at 392.44.

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