- Bitcoin Cash (BCH) rose 5.25% on Sunday, reaching $583.64.
- The token has gained over 17% in the past 30 days.
- Technical analysts identified bullish signals, noting breakthrough of resistance and strong buying activity.
- Key support and resistance levels emerged, with near-term targets highlighted by experts.
- Trading volume spiked during key hours, adding to upward momentum.
Bitcoin Cash (BCH) continued its upward momentum on Sunday, posting a 5.25% gain and reaching $583.64 as of 08:54 GMT, according to CoinDesk data. The cryptocurrency’s price surge attracted interest as it recorded notable growth over recent weeks.
In the past seven days, BCH advanced 10.5%, while it grew 15.7% over the last two weeks and 17.3% in 30 days. Technical analysts observed increased buying activity and identified bullish signs in the market structure and price movement.
Analyst CW stated that BCH is “breaking through the sell wall,” a term meaning the token has surpassed a heavy concentration of sell orders at a certain price point. CW indicated that if this momentum is sustained, BCH could soon approach $620. Another analyst, Ultimae GL, noted the token had overcome a resistance level that had blocked price advances for a long time, saying traders might wait for a strong daily close above the former ceiling before entering but projecting a possible short-term rise to $680.
A third analyst, XForceGlobal, described BCH’s current price formation as “highly bullish,” highlighting that prices stayed above the base trendline—an upward-sloping line showing consistent higher lows—for about a month. The analyst called the ongoing rally “fantastic,” pointing to steady buyer interest.
CoinDesk research found BCH gained 5.62% during the 24 hours from July 26 at 09:00 UTC to July 27 at 08:00 UTC, trading between $554.54 and $584.66. Notable trading volume spikes occurred at 01:00 and 06:00 UTC on July 27, peaking at 80,230 and 120,748 units respectively. New support zones formed at $556–$558 and $568–$570, with resistance near $585. The final trading hour saw BCH rise another 0.46% to a high of $584.95.
Bitcoin Cash was created in 2017 as a fork of Bitcoin to offer faster and lower-cost transactions. Recent gains and growing trading volumes have renewed interest among retail and technical traders.
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