Bitcoin cash price is struggling to gain traction above $500 against the US Dollar. BCH/USD may resume its downside once the current correction is over.
This past week, we saw nasty declines in bitcoin cash price below the $550 support against the US Dollar. The BCH/USD pair recently broke the $500 support area and traded as low as $461. Later, there was an upside correction initiated and the price moved above the $475 level. There was also a break above the 23.6% Fib retracement level of the last decline from the $526 high to $461 low.