Bitcoin Cash Price Weekly Analysis – BCH/USD Accelerating Higher

Key Points

• Bitcoin cash price surged higher and broke the $1,550 and $1,700 resistance levels against the US Dollar. There is a crucial bullish trend line forming with support near $1,680 on the 4-hours chart of the BCH/USD pair (data feed from Kraken).
• The pair may correct a few points, but it remains supported above $1,650 in the near term.

Bitcoin cash price broke the $1,700 barrier against the US Dollar. BCH/USD is likely to accelerate higher as long as it stays above the $1,650 support.

Bitcoin Cash Price Support

There were continuous gains in bitcoin cash price from the $1,450 swing low against the US Dollar. The price surged higher and broke many barriers such as $1,500, $1,550 and $1,700. It even cleared the $1,800 hurdle and traded as high as $1,838 recently. The current price action is super bullish and it seems like the price may perhaps continue to grind higher towards $1,900 in the near term.

At the moment, the price is correcting lower and is trading below $1,800. However,…