Bitcoin Cash Price Analysis: BCH/USD Aiming for $425?

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Bitcoin Cash is forming a short-term rising channel with its higher lows and higher highs on the 1-hour time frame. Price bounced off support and is heading up to the 50% Fibonacci extension level. 

Stronger bullish momentum could take Bitcoin Cash up to the 61.8% extension that lines up with the mid-channel area of interest at $400. A sustained climb could lead to a test of the 78.6% extension at the swing high around $411 or the full extension near $425 and the channel top.

The 100 SMA is…

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