Bitcoin Cash Price Analysis: BCH/USD Bounces Sharply, Could Retest $600

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Key PointsBitcoin cash price found a decent support near the $500-510 zone and bounced back against the US Dollar.There was a break above a key bearish trend line with resistance at $545 on the hourly chart of the BCH/USD pair (data feed from Kraken).The pair is gaining momentum and it seems like it could revisit the $600 zone in the near term.Bitcoin cash price formed a base near $500 against the US Dollar. BCH/USD is showing positive signs for a test of the $580 and $600 levels.Bitcoin Cash Price TrendAfter a significant decline, bitcoin cash price found support near the $500 and $510 levels against the US Dollar. The BCH/USD pair formed a low at $509 and later it started an upside move. The price traded higher and broke the $520 and $530 resistance levels. There was a break above the 38.2% Fib retracement level of the last decline from