Crypto Technicals: BCH/USD tests 110-EMA, scope for test of 23.6% Fib at 252.09

BCH/USD chart - Trading View

Exchange - Coinbase

Support: 221.50 (cloud base); Resistance: 236.44 (110-EMA)

Technical Analysis: Bias turning bullish

BCH/USD spikes around 6% on the day to hit 7-week high at 239.30, bias bullish.

The pair is extending break above 55-EMA and has tested 110-EMA resistance at 236.44.

Price action has broken above 100-DMA, momentum is turning bullish. Stochs and RSI are biased higher.

Near-term trend has turned bullish with short-term MAs breaking above long-term MAs in the GMMA indicator.

Breakout above 110-EMA raises scope for test of 23.6% Fib at 252.09. Failure at 110-EMA and retrace below 55-EMA negates near-term bullishness.

TokenPost | [email protected]