Bitcoin Cash Rises 5.25% to $583.64 Amid Bullish Analyst Predictions
Bitcoin Cash (BCH) rose by 5.25% to $583.64, gaining 10.5% over the past week and 17.3% over the past month. Analysts have noted bullish trends in price action and trading structure:
- Analyst CW highlighted BCH breaking through a sell wall, suggesting upward momentum could accelerate towards $620.
- Ultimae GL observed BCH clearing a long-term resistance level, potentially signaling a new upward trend. They projected a climb to $680 but advised waiting for a decisive breakout before entering trades.
- XForceGlobal described the price structure as highly bullish, indicating sustained buying activity above the base trendline.
Technical analysis data showed:
- BCH gained 5.62% in a 24-hour period, with an intraday high of $584.95.
- Volume spikes occurred at 01:00 and 06:00 UTC on July 27, peaking at 120,748 units.
- Support zones are identified at $556–$558 and $568–$570, with short-term resistance near $585.
- Fresh support formed at $583–$584, indicating ongoing bullish momentum.