Bitcoin Cash Technical Analysis: BCH/USD steadies below $700, downside looks vulnerable

• BCH/USD refreshes two week low at $672, starts consolidating daily losses in a tight range below the $700 mark.
• The RSI on the daily chart fails to recover above 40, suggests that yesterday’s rise was not good enough to scare off the bears.
• With a break below $650, the pair could extend  losses toward a fresh 2018 low near $600.

BCH/USD daily chart

Spot rate:                  680

Relative change:       -3.66%

High:                         706

Low:                          672

Trend:                       Bearish

Support 1:                 650 (Jun 28/Jun. 29 low).

Support 2:                 600 (Apr. 4/5 low/2018 low).    

Support 3:                 520 (Nov. 9, 2017, low).    

Resistance  1:            730 (20-DMA).

Resistance 2:            780 (Fibo. %23.6 retracement of Jun. 3 – 29 fall).

Resistance 3:            860 (Fibo. %38.2 retracement of Jun. 3 – 29 fall).