Bitcoin Cash

Current Price: BCH $585.46

Bitcoin Cash (BCH) extended its recent rally on Sunday, rising 5.25% to $583.64 as of 08:54 GMT, according to CoinDesk data. The token has gained 10.5% over the past week, 15.7% over the last two weeks, and 17.3% over the past 30 days.

Sunday’s breakout has caught the attention of several technical analysts, who flagged bullish signs in both price action and trading structure.

Analyst CW noted that BCH is “breaking through the sell wall,” which refers to a heavy concentration of sell orders at a specific price level. When the price breaks through such a wall, it often signals that buyers are absorbing that supply, potentially accelerating upward momentum. CW pointed to $620 as the next potential target if this breakout holds.

Another analyst, Ultimae GL, focused on the long-term chart, observing that BCH had cleared a long-standing resistance level. Long-term resistance typically refers to a price ceiling that has rejected upward moves multiple times. When this barrier is broken, it may signify a new upward trend. Ultimae GL cautioned that traders might want to wait for a “decisive breakout” — indicating a strong daily close above the resistance — before entering, but projected that BCH could climb as high as $680 in the near future.

A third analyst, XForceGlobal, described the current price structure as highly bullish, noting that BCH has remained above its “base trendline” for about a month. The base trendline connects a series of higher lows in an uptrend, suggesting consistent buying strength at elevated prices. The analyst described the rally as “not just good news,” but “fantastic,” given the sustained buying activity.

Bitcoin Cash, a fork of Bitcoin that launched in 2017, serves as a peer-to-peer digital currency with faster, cheaper transactions. Its recent upward trajectory, coupled with accelerating volume and bullish chart setups, has rekindled interest from both retail and technical traders.

Technical Analysis Highlights

• According to CoinDesk Research’s technical analysis data model, BCH gained 5.62% 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, with short-term resistance near $585.
• In the final trading hour, BCH rose 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.