Bitcoin Cash Technical  Analysis: BCH/USD showing positive signs of breaking out from chunky range-bound resistance block

• Bitcoin Cash held decent gains in the latter stages of trading on Monday, up 1.60%.
• BCH/USD is stuck trading within a range-bound resistance block. Ranging between $580-510.
• Bitcoin Cash gaining greater market adoption, after CoinText, SMS crypto money service, launched their Bitcoin Cash wallet in Hong Kong, Israel and Palestine.  

BCH/USD 4-hour chart  

Spot rate:                   529.3

Relative change:       +1.70%

High:                          534.4

Low:                           518.5

Trend:                        Bullish

Resistance  1:            550.0, resistance on 4-hour chart.

Resistance  2:            580.0, supply area.

Resistance  3:            650.5, top area 1-5 September.

Support 1:                 510.0,  bottom part of range-bound block.

Support  2:                 430.0, demand zone.

Support  3:                 410.5, support on 4-hour chart.