Bitcoin Cash Continues The Rise Above $580

The price of Bitcoin Cash (BCH) has risen, but is still in a sideways trend.

Bitcoin Cash price long-term analysis: bullish

On August 11, buyers drove the altcoin to a high of $632 before it fell back again. The altcoin continues to rise and is , approaching the previous price level of $640.

In the last 48 hours, the bullish momentum has paused at $630, as the altcoin continues to rise to its previous high. If buyers break above the current $630 barrier, BCH will rise above its previous high of $640. The positive momentum will continue to the high of $701. This is approaching the historical price level of April 2025. BCH is currently at $595.

BCH price indicators analysis

The moving average lines on the weekly chart are horizontal, and indicate a sideways trend. The 21-day SMA is above the 50-day SMA, indicating an uptrend. The altcoin is in the overbought area of the market. In the recent price action, BCH fell after reaching the overbought zone around $640.

Technical Indicators

Key Resistance Zones: $600, $650, $700

Key Support Zones: $500, $450, $400

What is the next direction for BCH/USD?

The BCH price has continued to rise, but has stopped at $630 since August 11. The cryptocurrency has retreated but has found support again above the low of $580.

The cryptocurrency is rising as it moves between the $630 barrier and $580 support. The high at $630 will mark the beginning of the uptrend. Otherwise, the sideways movement will continue within the given range.

Source