Bitcoin Cash Price Weekly Analysis: BCH/USD Holding Key Support at $54047.28

Bitcoin cash price failed to settle above $600 and declined against the US Dollar. BCH/USD is currently testing an important support area near $540.

After a major decline, bitcoin cash price found support near the $465 level against the US Dollar. The BCH/USD pair started a recovery and moved above the $500, $520, $540 and $580 resistance levels. There was even a spike above the $600 level. However, the price failed to settle above the $600 level and found sellers near the 100 simple moving average (4-hours). A high was formed at $613.7 and the price started declining.

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