Key PointsBitcoin cash price succeeded in moving above a major resistance at $2500 against the US Dollar. There was a break above a key contracting triangle with resistance at $2500 on the hourly chart of BCH/USD (data feed from Kraken). The pair is currently correcting lower and is testing the same broken resistance at $2500. Bitcoin cash price is gaining momentum above $2500 against the US Dollar. BCH/USD might continue to move higher after a minor correction from $2740. Bitcoin Cash Price SupportThere was a steady rise initiated in bitcoin cash price from the $2180 swing low against the US Dollar. The price was able to move above the $2200 and $2300 resistance levels. There was even a break above the 50% Fib retracement level of the last drop from the $2900 high to $2147 low. Therefore, it seems like the price is forming a steady bullish bias above the $2200 level. There was also a break above a key contracting triangle with resistance at $2500 on the hourly chart of BCH/USD. It opened the doors for more gains above $2500. The pair traded above the $2700 level and formed a high at $2738. Later, a downside correction was initiated and the price moved below the $2700 level. It is currently trading near the 38.2% Fib retracement level of the last wave from the $2210 low to $2738 high. Moreover, the same broken resistance at $2500 is now acting as a support. Overall, the price remains in a bullish trend above $2500 and it will most likely continue higher. On the downside, the next major support is around the $2475 level. It is near the 50% Fib retracement level of the last wave from the $2210 low to $2738 high. Looking at the technical indicators:Hourly MACD – The MACD for BCH/USD is slowly moving into the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is moving lower towards the 50 level. Major Support Level – $2475Major Resistance Level – $2700 Charts courtesy – Trading View, Kraken Bitcoin Cash Price Technical Analysis – BCH/USD Moves Past $2500 was last modified: April 1st, 2018 by Aayush Jindal