Bitcoin Cash technical analysis: BCH/USD bulls breaking down huge supply zone

• Bitcoin Cash price is trading in the green, up with gains of 2.30% in the second half of the session.
• BCH/USD can be seen retesting a breached pennant structure via the daily.
• The price is trading back within a huge zone, $260-290, the bulls must break for greater upside momentum.

BCH/USD daily chart

The bulls are in the process of breaking down a chunky supply ahead of $300, $270-290 range.

BCH/USD 60-minute chart

Price action is moving within a near-term bullish flag structure via the 60-minute chart view.  

Spot rate:                  290.15

Relative change:       +10.30%

High:                          295.98

Low:                           277.57

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