Key PointsBitcoin cash price broke many supports and traded below $800 against the US Dollar. There is a crucial bearish trend line in place with resistance near $820 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The pair is likely to continue its decline as long as it is below $850 and $900 resistance levels. Bitcoin cash price declined heavily below $900 against the US Dollar. BCH/USD may perhaps accelerate declines towards the $700 level in the near term. Bitcoin Cash Price DeclineThis past week, there was a major bearish reaction from the $910 resistance zone in bitcoin cash price against the US Dollar. The price started a major downside move and dropped below the $850 and $800 support levels. The decline was such that the price even broke the $750 support zone. A low was formed near $721 and the price is now trading well below the 100 simple moving average (4-hours). At the moment, the price is correcting higher and is trading near $740-750. The 23.6% Fib retracement level of the last decline from the $928 high to $721 low is acting as a resistance. On the upside, there are many hurdles for buyers around the $820 level. The stated level was a support earlier, and now it coincides with the 50% Fib retracement level of the last decline from the $928 high to $721 low. Moreover, there is a crucial bearish trend line in place with resistance near $820 on the 4-hours chart of the BCH/USD pair. Looking at the chart, the price may face a lot of barriers near $820. On the downside, the recent low of $721 is a short-term support. A break below this could push the price towards the $700 handle. Looking at the technical indicators:4-hours MACD – The MACD for BCH/USD is slowly reducing its bearish slope.4-hours RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 30 level. Major Support Level – $700Major Resistance Level – $820 Bitcoin Cash Price Weekly Analysis: BCH/USD Extending Losses was last modified: June 24th, 2018 by Aayush Jindal