Bitcoin Cash technical analysis: BCH/USD taking an unstoppable lead towards $300

• Bitcoin Cash joins other cryptocurrencies in the Friday recovery phase by posting a 1% increase on the day.
• Technical levels align for Bitcoin Cash to launch another attack on $300 stubborn resistance.

Spot rate: $295.18

Relative change: +2.49

High: $296.40

Low: $291.53

Open: $292.61

Trend: Strongly bullish

BTC/USD daily chart

Bitcoin Cash breakout depends on the momentum of the next leap above $300.

A sustained correction above the 50 Simple Moving Average could launch BCH/USD into a trajectory above the $360 supply zone.

BCH/USD 4-hour chart

Bitcoin Cash bulls revive upside momentum after descending channel breakout.

As the full stochastic oscillator leaves the oversold region; more buying entries are expected to push BCH towards $300.

BCH/USD 1-hour chart

A trendline commenced last weekend will be important later in the event a break above $300 fails and a reversal occurs.