Crypto Technicals: BCH/USD struggles at 21-EMA, 'Bearish Divergence' keeps scope for downside

BCH/USD chart - Trading View

Exchange - Coinbase

Support: 356.33 (55-EMA); Resistance: 397.17 (21-EMA)

Technical Analysis: Bias Bearish

Bitcoin Cash extends sideways grind, upside capped at 21-EMA at 397.17.

The pair is trading 2.92% lower on the day at 382.60 at 12:20 GMT.

Technical indicators are biased lower. RSI has slipped below 50 mark.

Momentum with the bears. 'Bearish Divergence' on RSI and Stochs adds to the bearish bias.

Minor recovery attempts capped at 200H SMA, break above could see minor upside.

Volatility is rising on the hourly charts. Scope for dip till 55-EMA at 356.33. Further weakness could see test of 38.2% Fib at 326.67

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.