Bitcoin Cash Analysis: BCH/USD free fall in the works by the bears, price dips its toes in and out of $700-600 territory, it looks vulnerable to another drop

• Bitcoin Cash drops around 2.5% on Monday, as the crypto market across the board remains under pressure.
• BCH/USD is flirting with the $700 mark, dipping in and out, as price consolidates ahead of another potential drop.    

BCH/USD 60-minute chart

Spot rate:                    692.5

Relative change:        -2.40%

High:                          716.7

Low:                           685.8

Trend:                        Bearish

Support 1:                  685.8, today’s low (Monday) & (support on 60-minute chart).

Support 2:                  677.5, demand zone.  

Support 3:                  661.9, 13th July low.  

Resistance 1:             698.6, 50MA & supply zone.

Resistance 2:             710.9, 100MA.

Resistance 3:             738.2, supply zone.