BCH breaks consolidation zone with bullish momentum
Bitcoin Cash (BCH/USDT) climbed nearly 7% in the past 24 hours, pushing the price to $649.80. The move comes as BCH successfully broke above a prolonged consolidation range, signaling renewed buying pressure and growing confidence among traders.
On the 4-hour chart, BCH surged past the $616 support zone, which had acted as a critical base for weeks. With strong momentum, the cryptocurrency is now testing the $650 resistance level, an area that will determine whether bulls can extend the rally.
“Bitcoin Cash has shown resilience after weeks of sideways action,”According to BITX market analysts. “A sustained close above $650 could confirm further upside, potentially opening the door toward the $680–$700 range.”
The price action follows a well-formed ascending channel, with higher lows supporting the uptrend. Volume data also shows a spike during the breakout, underlining that buyers are stepping in aggressively at these levels.
Technically, BCH has multiple support layers in case of a pullback. The immediate support lies at $616, followed by a stronger demand zone around $540. Holding these levels will be crucial for maintaining bullish structure. On the upside, a decisive breakout above $650 could trigger a push toward the psychological $700 mark, where profit-taking may emerge.
BITX expert highlighted that “the current breakout aligns with broader market strength. If Bitcoin maintains stability, Bitcoin Cash could benefit from renewed inflows as traders seek higher beta plays.”
Momentum indicators remain positive, though some caution that short-term corrections are likely given the sharp move. Still, the broader structure suggests bulls are regaining control, and sentiment is shifting toward a more optimistic outlook for BCH.
Bitcoin Cash’s 7% surge reflects strengthening technical momentum and growing market interest. With price action testing a critical resistance zone, the coming days will reveal whether BCH can extend its gains and solidify its position above the $650 threshold.
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.