The 50 SMA and the 100 SMA are acting as resistance lines at $730.2 and $737.2 respectively. The Relative Strength Index is heading upwards above the 40 mark. Bitcoin Cash price engaged reverse gears on Friday after opening the trading marginally above $744. The support at $710 came in handy allowing buyers to enter and push for higher corrections. The trend is still bearish although there is a weak bullish momentum above $720. Both the 50 SMA and the 100 SMA are acting as resistance lines at $730.2 and $737.2 respectively. Bitcoin Cash is locked within the confines of a descending channel that was initiated in the first week of June. The slide through the month of June resulted in BCH/USD trading at $654 before embracing the brief bullish trend that has ensued in the first week of July. However, the crypto is currently trimming the gains after it failed to sustain above $800. The 23.6% Fib retracement level with the last high at $1,204.3 and a low at $654.5 gave in to selling pressure around $780 and the upside has been capped below $760 to a couple of days now. BCH/USD is currently attempting to clear the 50 SMA resistance, besides changing at $721. The buyers seem to be gaining momentum in the near-term, similarly, the Relative Strength Index is heading upwards above the 40 mark. BCH/USD 120′ chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/CHF steadies above 0.99 ahead of NFP report FX Street 4 years The 50 SMA and the 100 SMA are acting as resistance lines at $730.2 and $737.2 respectively. The Relative Strength Index is heading upwards above the 40 mark. Bitcoin Cash price engaged reverse gears on Friday after opening the trading marginally above $744. The support at $710 came in handy allowing buyers to enter and push for higher corrections. The trend is still bearish although there is a weak bullish momentum above $720. Both the 50 SMA and the 100 SMA are acting as resistance lines at $730.2 and $737.2 respectively. Bitcoin Cash is locked within the confines of a… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.