Bitcoin Cash (BCH) has surged past the $580 level, gaining momentum as traders eye a possible breakout toward the $620–$680 range. On July 27, BCH jumped 5.25% to $583.64, with strong buying pressure driving bullish technical setups across multiple timeframes.
Strong Price Action and Volume Fuel Bullish Sentiment
BCH has recorded a:
- 10.5% gain over the past 7 days
- 17.3% increase in the last 30 days
- High of $585.45 as of Sunday morning
Analysts cite a clear breakout pattern, with $620 as the next major upside target.
Technical analyst “CW” noted that BCH is “breaking through the sell wall” — a heavy cluster of sell orders that had previously capped price action. A successful breach of this wall, CW explained, often signals that buying momentum is overwhelming selling pressure, which could lead to a swift move toward $620.
Long-Term Resistance Broken — Room for More Upside
Analyst “Ultimae GL” pointed to a long-term resistance level being cleared, a development that typically signals the start of a new bullish trend. While he recommended waiting for a decisive daily close above resistance, he projected BCH could rally as high as $680 if momentum continues.
Base Trendline Holding Strong: XForceGlobal’s Bullish Signal
Another prominent analyst, “XForceGlobal,” observed that BCH has maintained its base trendline for over a month. A base trendline represents higher lows in an uptrend, and continued price action above it suggests ongoing buyer strength.
“This isn’t just good news — it’s fantastic,” the analyst said, citing sustained buying activity and consistent uptrend structure.
Technical Snapshot
- Intraday range: $554.54 to $584.66
- Major volume spikes: 80,230 units at 01:00 UTC, 120,748 units at 06:00 UTC
- Support zones: $556–$558 and $568–$570
- Fresh resistance and support: $585 resistance, $583–$584 support
Conclusion: BCH Bulls Take Control
With technical indicators aligning and sentiment turning bullish, Bitcoin Cash is positioned for a breakout. If price continues above $585, traders will be watching closely for a sustained rally toward $620 and possibly $680.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.