Bitcoin Cash Price Weekly Analysis: BCH/USD Holding Key Support at $540

Key PointsBitcoin cash price recovered and moved above the $520 and $540 resistance levels against the US Dollar.
There is a major contracting triangle forming with support near $545 on the 4-hours chart of the BCH/USD pair (data feed from Kraken).
The pair has to stay above the $545 and $540 support levels to remain in an uptrend in the near term.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.
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