- BCH/USD is struggling at break past stiff resistance at 4H 100-SMA currently at 1289 levels.
- Technical studies are turning slightly bullish on 4H charts. RSI is strong above 50 levels and biased higher, while MACD is in +ve territory.
- We see scope for further upside on decisive break above 4H 100 SMA.
- Above 1289 the pair finds next immediate resistance at 4H 110 EMA at 1347 levels. Violation there could propel the pair higher.
- On the flipside, we see strong support at 1216 (1H 110-EMA), weakness to resume on break below.
Recommendation: Good to go long on break above 4H 100-SMA, SL: 1180, TP: 1345/ 1400/ 1590.
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