Bitcoin Cash Price Analysis: BCH/USD’s Failed Upside Attempt Near $530

Key PointsBitcoin cash price failed to break the $530 resistance and declined against the US Dollar.
Yesterday’s highlighted ascending channel was breached with support at $521 on the hourly chart of the BCH/USD pair (data feed from Kraken).
The pair is currently below the $520 support and it could decline further in the near term.Bitcoin cash price struggled to break the $530 and $540 hurdles against the US Dollar. BCH/USD is likely to retest the $500 support if sellers remain in action.