Bitcoin Cash technical analysis: BCH/USD supported by critical ascending channel, $500 in sight

• Bitcoin Cash price in the second part of Friday is trading in positive territory, up some 2%.  
• BCH/USD price action via the daily is moving within an ascending channel structure, which has been the case since 11th May.  
• The next major area of interest to the upside for the bulls appears to be $500 price mark.  

Spot rate:                   428.87

Relative change:       +1.90%

High:                          442.28

Low:                           413.03

BCH/USD 60-minute chart

• Near-term price action had broken out of a range-block formation, a however retest of this  

BCH/USD daily chart

• The price is moving within the confinements of an ascending channel structure, supporting BCH north at present.