Crypto Technicals: BCHUSD rangebound, struggles to extend break above 110-EMA

BCH/USD chart - Trading View

Exchange - Coinbase

Support: 279.15 (110-EMA); Resistance: 323.59 (200-DMA)

Technical Analysis: Slightly bullish

Bitcoin cash was trading largely rangebound on the day, bias remains slightly bullish.

BCH/USD is extending sideways grind as the pair is struggling to build upside momentum after break above 110-EMA.

Successive Doji and Spinning Top formations on the daily candle signal lack of upside traction in the pair.

Stochs and RSI are on verge of bearish rollover from overbought and near-overbought levels.

GMMA has shown a clear shift in near-term trend with the shorter-term moving averages crossing over long-term MAs.

However, long-term trend remains flat for now. Compression and shift higher will confirm bullish bias.

Major resistance is seen at 200-DMA at 323.59. Break above eyes gains till 61.8 Fib at 395.50.

On the flipside, break below 110-EMA support (279.15) will see resumption of weakness.

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