Bitcoin Cash Technical  Analysis: BCH/USD forms a bearish pennant, price looks to party with the bears

• Bitcoin Cash price was seen down 0.5% on Monday, after the gains made over the weekend proved to be unsustainable,
• BCH/USD has formed a bearish pennant pattern, subject to a drop lower.  

BCH/USD 15-minute chart

Spot rate:                                    0.47752

Relative change:               -0.25%

High:                                                   0.48090

Low:                                                      0.47320

Trend:                                                 Neutral

Support 1:                                 742.6, lower part of pennant.

Support 2:                                   737.8, today’s (Monday) low.

Support 3:                                  723.0, (support on the 60-minute chart).  

Resistance  1:                      748.7, 50MA.

Resistance 2:                       752.0, upper part of pennant.  

Resistance 3:                        753.5, 100MA.