Bitcoin Cash Technical Analysis: BCH/USD at danger of giving up the $700 territory, as bears keep on the pressure

• Bitcoin Cash seen down around 2% in the late stages of trading on Friday.
• Key near-term demand zone continues to be tested by bears, $700 under threat.

BCH/USD 60-minute chart

Spot rate:                    717.9

Relative change:        -2.01%

High:                          731.0

Low:                           700.3

Trend:                        Bearish

Support 1:                  709.0, demand zone entrance.

Support 2:                  700.3, today’s (Friday) low.

Support 3:                  698.5, (key support on 60-minute chart).

Resistance 1:             734.0, 50MA.

Resistance 2:             745.0, supply area.

Resistance 3:             755.2, 100MA.