Key PointsBitcoin cash price is still consolidating in a range above the $1,150 support level against the US Dollar. There was a break below a short-term contracting triangle with support at $1,245 on the hourly chart of BCH/USD (data feed from SimpleFX). The pair may decline toward the $1,150 support, which holds the key in the near term. Bitcoin cash price is trading in a range and failed to move above $1,350 against the US Dollar. BCH/USD could decline in the short term, but remains supported above $1,150. Bitcoin Cash Price SupportThere were mostly range moves in bitcoin cash price above $1,150 during the past few sessions against the US Dollar. The price failed to move above the $1,350 level and made a minor downside move. It settled below the 23.6% Fib retracement level of the leg up from the $934 low to $1,371 high. It seems like the price is slightly struggling below the $1,250 level and the 100 hourly simple moving average. It is slowly moving lower and traded below the $1,240 level. Moreover, there was a break below a short-term contracting triangle with support at $1,245 on the hourly chart of BCH/USD. The pair may decline further towards the lower end of the range near $1,150. The mentioned $1,150 support is a very important buy zone since it prevented declines on many occasions. It is also close to the 50% Fib retracement level of the leg up from the $934 low to $1,371 high. Therefore, if the price corrects further the $1,170 and $1,150 levels are likely to act supports. On the upside, the price has to move above the $1,250 level to retest the $1,350 resistance area. Looking at the technical indicators:Hourly MACD – The MACD for BCH/USD is slightly in the bearish zone, but with a flat structure. Hourly RSI (Relative Strength Index) – The RSI for BCH/USD has just moved below the 50 level. Major Support Level – $1,150Major Resistance Level – $1,350 Charts courtesy – SimpleFX Bitcoin Cash Technical Analysis – BCH/USD’s Short-term Downside was last modified: March 31st, 2018 by Aayush Jindal