Bitcoin Cash technical analysis: BCH/USD can fly if bulls break $240-245 barrier

• Bitcoin Cash price is trading in the red, with losses of 0.70% in the second half of the session.
• BCH/USD bulls are trying to break down a strong supply region at $240 -245.
• Should the breach be observed, the price could have a fast return to the $300 territory. 

BCH/USD daily chart

Price action is moving within a bearish flag structure via the daily chart view, a breach could see $200 broken. 

BCH/USD 60-minute chart

Price action broke out of a bullish flag pattern and retested, making way for further upside pressure. 

Spot rate:                   242.82

Relative change:      -0.70%

High:                          247.05        

Low:                           232.37