- BCH holds steady inside a narrowing wedge formation.
- A break above $575 may trigger strong upside.
- Higher-timeframe chart signals improving recovery.
- RSI and MACD maintain a broader bullish structure.
Bitcoin Cash is trading around $566.70 and remains steady inside a descending wedge, a setup that often leads to a strong upward move. Price is sitting close to the wedge’s apex, and repeated rebounds from the lower line show buyers are active. This outlook stays intact unless BCH breaks below the $558 support region.
According to crypto analyst CW, the market is currently completing a retest of the wedge’s lower boundary before attempting to climb again. A push above $575 would signal the first clear breakout, while a close above $585 would confirm stronger momentum. Volume remains lighter than usual, indicating traders are awaiting a clear directional move before entering positions.
If BCH breaks higher, the next key targets are $600 and $620 as momentum builds. A larger extension could push the price toward $650 if market sentiment strengthens and buying pressure rises. These upside levels align with the wedge’s measured projection, maintaining a broadly optimistic outlook as long as support remains intact.
Also Read: Bitcoin Cash Plunge: Could BCH Drop to $300 or Surge to $1,000?
BCH Price Shows Strength Above Key Support
Technical analysis also supports the view that BCH is showing steady recovery on the two-week chart, moving above the 9-EMA and resting near the top half of the Bollinger Band. At $569, BCH has reclaimed important support levels and is forming higher lows, which indicates strengthening momentum. The widening bands show increasing volatility, which is great for further recovery.
If buyers maintain control, the next areas of resistance will be at $600 and then $665, which could see a breakout to further support the bullish trend. A failure to push past these points could see a temporary re-formation of a consolidation trend towards either $540 or the mid-band of $480.
Momentum Indicators Support Broader Positive Bias
Looking at the RSI and MACD indicators, RSI is currently at approximately 59-60 on the two-week chart, which is a strong indication of sustained bullish buying pressure without any sign of overbuying. With the slow increase, it also reflects enhanced buying strength. The fact that it is above the 50 level after several candles also reinforces a strong bullish trend.
The MACD Histogram indicates weakening green bars, which indicate weakening bullish momentum, but the MACD line is above the signal line, which maintains the overall positivity in the trend. Although the sharp uptrend, which started mid-2025, is weakening, it is not reversing. As long as MACD lines are aligned correctly in the bullish direction, support could help Bitcoin Cash continue with the uptrend.
Also Read: Bitcoin Cash Set to Surge: BCH Price Could Hit $650 Soon
