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BCH/USD chart - Trading View
Exchange - Coinbase
Support: 399.31 (55-EMA); Resistance: 426.86 (21-EMA)
Technical Analysis: Bias slightly bearish
Bitcoin Cash sandwiched between 21 and 55 EMAs, 'Bearish Divergence' keeps scope for weakness.
Technical indicators support weakness. RSI below 50, MACD shows bearish crossover on signal line, momentum studies are bearish.
Bearish divergence on price action seen on RSI and Stochs which adds to the bearish bias.
The pair is extending sideways grind below 4H 200 SMA and volatility is shrinking.
Could is offering strong support. Break below 55-EMA will see weakness. Next major bear target lies at 38.2% Fib at 347.94.
21-EMA is immediate resistance at 426. Break above will negate the near-term bearish bias.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
