Bitcoin Cash Price Analysis: BCH/USD Losing Momentum

Key PointsBitcoin cash price failed to hold gains above $1,220 and declined below $1,200 against the US Dollar.
There is a declining channel forming with resistance at $1,220 on the hourly chart of the BCH/USD pair (data feed from Kraken).
The pair is likely to extend the current decline and it could test the $1,150 support level.Bitcoin cash price is back in a bearish zone below $1,220 against the US Dollar. BCH/USD is losing momentum and it could continue to move down towards $1,150.
Bitcoin C