Bitcoin Cash Price Surges 8% After Breaking Key Resistance Levels

Bitcoin Cash (BCH) Price Analysis

BCH price increased past the $480 level, aiming for gains above $500.
Trading is currently above $480 and the 100-hour simple moving average.
A break occurred above a bearish trend line at $472 on the BCH/USD hourly chart.
A potential increase could follow if the price clears the $500 resistance zone.

BCH has surged over 8% after stabilizing above $440. It surpassed $470 and tested the $495 resistance level. A high of approximately $505 was reached, with current trading above $485.

Key levels include:

Immediate resistance near $500
Next major resistance at $505, with potential acceleration toward $520
Initial support at $490, followed by $480
Further losses may lead to testing the $470 or $450 supports

Technical indicators are showing:

MACD for BCH/USD losing momentum in the bullish zone
RSI above 60

Monitor these levels for potential price movements.