Bitcoin Cash Price Analysis: BCH/USD Extending Losses Towards $500

Key PointsBitcoin cash price failed to recover above $550 and declined recently against the US Dollar.
There is a crucial bearish trend line formed with resistance at $535 on the hourly chart of the BCH/USD pair (data feed from Kraken).
The pair is likely to remain in a bearish zone and it could slide towards the $500 support.Bitcoin cash price is under pressure below $550 against the US Dollar. BCH/USD could accelerate losses towards the $500 and $480 support levels.
Bitcoin Cash Price Analysis