Bitcoin Cash Technical Analysis: BCH/USD bulls have a big short-term test on their hands, otherwise the bears will likely sweep in to quickly drag the price back to $600 and below

• Bitcoin Cash is seen up around 2% on Wednesday, as the price continues to test key short-term resistance.
• BCH/USD bulls need to make a break through $722 (today’s high) and resistance of a stubborn descending trend line.

BCH/USD 60-minute chart

Spot rate:                                     708.0

Relative change:               +1.90%

High:                                                   721.9

Low:                                                       685.1

Trend:                                                 Bullish/Neutral

Resistance 1:                           721.9, today’s (Wednesday) high & descending trend line.

Resistance 2:                          730.5, 50MA & 100MA.

Resistance 3:                           752.0, supply zone.

Support 1:                                  685.1, today’s (Wednesday) low.

Support 2:                                    664.0, 24th June low & demand zone.

Support 3:                                    630, (support on 60-minute chart).