Crypto Technicals: BCH/USD edges above 5-DMA, near-term upside likely on break above 20-DMA (211.74)

BCH/USD chart - Trading View

Exchange - Coinbase

Support: 206.27 (50H MA); Resistance: 211.74 (20-DMA)

Technical Analysis: Bias slightly bullish

Bitcoin Cash has edged above 5-DMA, intraday bias is now slightly bullish.

After 3 consecutive sessions of flat trade, the pair is now showing signs of upside.

BCH/USD was trading at 208.10 at 11:10 GMT, up 0.84%, after closing largely muted at 206.37 in the previous session.

The pair is flashing signs of minor recovery. RSI is showing a slight turn and Stochs are on verge of rollover from oversold levels.

Price action has broken above 50H MA and is on track to test 200H MA at 209.57.

Major trend is bearish, but, break above 20-DMA (currently at 211.74) will confirm near-term upside.

Next major hurdle aligns at 55-EMA at 235.29. Retrace below 5-DMA negates bullish bias.

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