Is it possible to travel to Yichang from Phoenix Ancient City? How long is and how much will it cost

You can take bus from the ancient city to Jishou South Bus Station (80 min). Take a taxi to Jishou railway station (5-8 min), and take train there to Yichang (7 hrs).

The bus fare to Jishou is CNY23 per person and the cab fare to the railway station is around CNY10. Then the train fare is CNY62.5 for a hard seat, CNY117.5 for a hard sleeper and CNY174.5 for a soft sleeper.