BCH Price Hits $266.10, But Can It Hold Ground Against Heavy Resistance?

Bitcoin Cash (BCH) has been on an uptrend, but its ability to hold ground is uncertain. The asset is trading at $266.10 on the daily chart, above its 20-day and 50-day moving averages, but still below the 200-day EMA at $351.37.

The long-term trend remains bearish until price reclaims that $351 zone. The weight of evidence across indicators is solidly bullish, with a cumulative score of 6.4 out of 10.

The MACD is firing hot with a line above signal and a positive histogram of 6.29, RSI sits at 68.0 in the bullish zone, and on-balance volume is rising, confirming that smart money is accumulating.