Crypto Technicals: BCH/USD resumes upside, continued bullish momentum to see test of 38.2% Fib at 319.97

BCH/USD chart - Trading View 

Exchange - Coinbase

Support: 263.47 (5-DMA); Resistance: 286.64 (21W EMA)

Technical Analysis: Bias bullish

BCH/USD spikes higher, trades over 6% higher on the day at 282.47 at 04:05 GMT.

The pair is likely to extend bullish momentum and we see scope for test of 38.2% Fib at 319.97.

RSI is above 60 mark and sharply higher, Stochs are also biased higher. MACD and ADX support gains.

Price action has broken above daily cloud and 110-EMA resistance at 277.86. 

Next bull target lies at 286.64 (21W EMA). Break above eyes 38.2% Fib at 319.97.

55-EMA is major support at 254.38. Retrace below negates near-term bullishness.