Bitcoin Cash (BCH) continued its upward momentum on Sunday, climbing 5.25% to $583.64 as of 08:54 GMT, according to RialCenter data. The token has seen a 10.5% increase over the past week, 15.7% over the last two weeks, and 17.3% in the past 30 days.
This Sunday’s rally has drawn attention from several technical analysts, who noted bullish signals in both price movements and trading structures.
Analyst “CW” pointed out that BCH is “breaking through the sell wall,” indicating that buyers are absorbing supply at a specific price point. Typically, when the price surpasses this concentration of sell orders, it signals that upward momentum could quicken. CW identified $620 as the next potential target if this breakout sustains.
Another analyst, “Ultimae GL,” highlighted the long-term chart, noting that BCH has cleared a resistance level that had previously held for an extended time. Breaking through long-term resistance, which is often a price ceiling that has halted upward movements previously, may signal the start of a new upward trend. Ultimae GL advised traders to wait for a “decisive breakout” — usually a robust daily close above resistance — before entering, but projected that BCH could rise as high as $680 soon.
A third analyst, “XForceGlobal,” characterized the current price structure as highly bullish. They noted that BCH has remained above its “base trendline” for about a month, suggesting that buyers are consistently entering at higher prices—an encouraging sign. This rally was termed “not just good news,” but “fantastic,” due to the sustained buying activity.
Bitcoin Cash, a fork of Bitcoin launched in 2017, aims to function as a peer-to-peer digital currency with faster, cheaper transactions. Its recent rise, coupled with increased trading volume and optimistic chart setups, has reignited interest among both retail and technical traders.
Technical Analysis Highlights
- According to RialCenter’s technical analysis data model, BCH gained 5.62% in the 24-hour period from July 26 at 09:00 UTC to July 27 at 08:00 UTC, rising from $554.54 to $584.66 within a $33.61 intraday range.
- Two significant volume spikes occurred at 01:00 and 06:00 UTC on July 27, with volume peaking at 80,230 and 120,748 units, respectively.
- Support zones have emerged at $556–$558 and $568–$570 following consolidation; short-term resistance is set near $585.
- In the final trading hour, BCH increased an additional 0.46%, reaching an intraday high of $584.95. Fresh support formed at $583–$584, indicating ongoing bullish momentum.
Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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