- Bitcoin Cash (BCH) extends its positive trend with steady gains.
- Weekly performance strengthens investor confidence.
- Recovery from the demand zone supports bullish sentiment.
- Technical indicators favor short-term upside continuation.
Bitcoin Cash (BCH) continues its positive price trajectory as bullish sentiment strengthens. Over the past 24 hours, BCH has climbed nearly 1.54%, while its weekly performance shows an impressive 9.28% gain, reflecting renewed buying interest and improved market confidence around the asset.
At the time of writing, BCH is trading near $584.98. Its 24-hour trading volume stands at approximately $377.05 million, marking a 12.69% decline; yet, the market capitalization has risen to $11.68 billion, recording a 1.55% increase, signaling sustained investor support.
Source: CoinMarketCap
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Price Recovery Strengthens Key Support Levels
BCH shows a sharp recovery after bouncing from the $560 demand zone and reclaiming the $590–$600 range. Buyers stepped back in with stronger candles, indicating renewed bullish sentiment after consolidation. The structure currently supports continuation as long as the price stays above recent higher lows and keeps momentum steady toward key resistance regions ahead.
Immediate supports remain layered below. First support sits at $580–$560, followed by deeper accumulation zones at $545–$525 and $505–$470, should bearish pressure reappear. These green zones highlight buy interest, and as long as BCH trades above $520, the broader bullish structure on the 4-hour timeframe stays intact and technically favorable.
Source: @CW8900
Upside resistance now stands around $600–$620. As stated by the crypto analyst @CW8900, the major sell wall is found between the levels of $640-$740. Breaking above the level of $640 may provide opportunities for the price to reach the levels of $700, $740, or even the level of resistance found at $780-$820.
Momentum Indicators Signal Short-Term Upside
The RSI is currently at 55.7, making its move up from the lower part of the chart and breaking out past the 50-level. This is an indicator that shows strengthened buying power following a period of consolidation. However, it is still below the overbought level, which means it still has room to move upward.
Source: TradingView
The MACD is having a bullish crossover around the zero-line area, with an upward-sloping MACD line and slowly changing histogram bars that are turning positive. It indicates a reduction in the bearish effect and the beginning of a positive bull effect. Stronger green bars are expected for an amplified positive effect.
With the MACD reversal and the RSI recovery, both indicators are signaling a continuation of the uptrend in the market for as long as the momentum is maintained. Note also that BCH has a possible resistance in its ascending trend.
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