Crypto Technicals: Bitcoin Cash finds stiff resistance at $300 mark, breakout required for further upside

BCH/USD chart - Trading View

Exchange - Coinbase

Support: 285.85 (5-DMA); Resistance: 300.65 (200-DMA)

Technical Analysis: Bias Neutral

Bitcoin Cash pauses 4 straight sessions of gains, finds stiff resistance at $300 mark.

The pair has edged lower from session highs at 299, trades at 295.29 at 07:55 GMT.

Technical indicators on the intraday charts are turning slightly bullish. Stochs have rolled over from oversold levels.

The pair has broken above 200H SMA which is now strong support at 290.92.

Breakout at 300 mark will see next major resistance at 321 (converged cloud and 55-EMA).

Major trend in the pair is bearish. Retrace below 200H SMA negates bullish bias.

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