BCH Stuck at Resistance Cluster as Momentum Stalls
BCH is currently trading at $250.40, stuck just below its resistance cluster of $254, $258.
The short-term structure appears clean, with BCH's price stacked above its 7-, 20-, and 50-day moving averages.
However, momentum has stalled, with the MACD histogram flatlining to zero.
This suggests that buyers have run out of easy fuel after a push from the $226 range, leaving the market in a state of indecision.
The Bollinger Band picture shows price hovering just above the midline at a %B of 0.55, indicating room to run in either direction.
A single decisive session can cover a lot of ground fast, given an ATR of nearly $21.
Key levels exposed include immediate resistance at $254.17 and strong resistance clusters at $257.93.
The Bollinger upper band at $298 is the next structural magnet, but it requires sustained buying volume that isn't showing up yet.