Crypto Technicals: BCH/USD bounces off 200H SMA support, scope for further gains

BCH/USD chart - Trading View

Exchange - Coinbase

Support: 286.78 (200H SMA); Resistance: 303.16 (200-DMA)

Technical Analysis: Bias Neutral

Bitcoin cash has bounced off 200H SMA support raising scope for further upside.

Technical studies on the intraday charts support upside, stochs and RSI are biased higher.

The pair has paused upside at hourly cloud (296.41), break above will see further gains.

Further, the pair has formed a 'Hammer' on the previous day's candle.

Major trend is bearish, but break above 200-DMA (303.16) could change near-term dynamics.

Break above 200-DMA eyes next major resistance at 23.6% Fib at 317.05 ahead of daily cloud at 321.88.

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