Bitcoin Cash Technical Analysis: BCH/USD relief upside very much limited, price gets stuck in new supply zone, bears selling rallies

• Bitcoin Cash price seen up with decent of 3% in the session, as bears take some time off selling pressure.  
• BCH/USD like other cryptos has formed a bearish pennant pattern, running into a new supply area, failing to break above.  

BCH/USD 60-minute chart

Spot rate:                    605.6

Relative change:        +2.90%

High:                           620.0

Low:                            577.0

Trend:                          Bullish
 

Support 1:                  586.1, lower part of pennant.  

Support 2:                  565.1, 8th August low.

Support 3:                    523.5, 8th November 2017 low.

Resistance 1:             615.8, upper part of pennant.  

Resistance 2:             620.6, 50MA.

Resistance 3:             630.0, (resistance on 60-minute chart