Bitcoin Cash technical analysis: BCH/USD bulls fighting to protect $300 mark

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  • Bitcoin Cash price is holding minor gains late on Friday of some 1% in the session.
  • BCH/USD bulls trying to defend the $300 price territory, given the downside pressures. 
  • A big area of demand can be seen running from $350 down the the psychological $300 level.

 

Spot rate:                  349.78

Relative change:      +2.14%

High:                         361.51

Low:                          336.48

BCH/USD 60-minute chart

  • Near-term price action has formed bearish flag structure, via the 60-minute.

 

BCH/USD daily chart

  • Critical demand zone should be noted from $350-300, where buyers are preventing price from free-falling.

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