Bitcoin Cash Price Analysis: BCH/USD Sliding Towards $550

Key PointsBitcoin cash price declined recently and broke the $575-580 support against the US Dollar.
There is a major bearish trend line in place with resistance at $582 on the hourly chart of the BCH/USD pair (data feed from Kraken).
The pair may continue to slide and it could even test the $550 support level in the near term.Bitcoin cash price extended declines below $600 against the US Dollar. BCH/USD is currently under pressure and it looks set to test the $550 support.
Bitcoin Cash Price An