Bitcoin Cash Technical Analysis: BCH/USD bears take another forceful drive at a vital area of support, which if breached can see a fast money drop to $700

• Bitcoin Cash has much weight on its shoulders on Thursday, down in negative territory by 3.5%.
• The bears continue to test a very key near-term demand area, tracking from $747-738.  

BCH/USD 60-minute chart

Spot rate:                    741.3

Relative change:        -3.50%

High:                          773.8

Low:                           739.0

Trend:                         Bearish

Support 1:                  738.0, latter part of key demand zone.  

Support 2:                  734.7, 1st August low.  

Support 3:                  719.0, consolidation area between 15-16th July, before bull run.  

Resistance 1:             755.8, 50MA.

Resistance 2:             760.1, 100MA.

Resistance 3:             778.0, supply zone.