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Crypto Technicals: BCH/USD bounces off strong trendline support, break above 21-EMA (228.68) to see bullish continuation

BCH/USD chart - Trading View 

Exchange - Coinbase

Support: 219.37 (5-DMA); Resistance: 228.74 (21-EMA)

Technical Analysis: Bias turning Bullish

BCH/USD consolidating previous sessions gains, bias is turning bullish.

After closing 5.41% higher on 20th October trade, the pair is extending marginal gains on the day.

The pair has bounced off major trendline support and price has broken above 5-DMA and 20-DMA.

Technical indicators are turning slightly bullish. Stochs are on verge of rollover from oversold levels.

Immediate resistance is seen at 21-EMA at 228. Break above to see test of 50-DMA at 259.55.

Rejection at 21-EMA and break below trendline support (210.45), to see more weakness.
 

By Anupama Grandhi
  • Market Data
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