Bitcoin Cash Price Weekly Analysis: BCH/USD Recoveries Remain Limited

Key PointsBitcoin cash price got bid near the $1.130 level and started a recovery against the US Dollar.There is a crucial bearish trend line forming with resistance near $1,320 on the 4-hours chart of the BCH/USD pair (data feed from Kraken).The pair may continue to rise in the short term, but it is likely to face sellers near $1,320-40.Bitcoin cash price is showing positive signs above $1,150 against the US Dollar. However, upsides in BCH/USD are likely to be limited by the $1,320 resistance zone.Bitcoin Cash Price Upside HurdleThis past week, there was a sharp increase in selling pressure on bitcoin cash price above $1,400 against the US Dollar. The price started a downside move and traded below the $1,350 and $1,280 support levels.

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