Bitcoin Cash Climbs Above $580 as Analysts Eye Rally Toward $620–$680
Bitcoin Cash (BCH) surged over 5% on Sunday, breaking above $580 as technical analysts identified bullish patterns pointing to a potential advance toward the $620–$680 range.
According to CoinDesk data, BCH traded near $583.64 at 08:54 GMT, marking a 5.25% gain for the day. The token has risen 10.5% over the past week, 15.7% over two weeks, and 17.3% in the last 30 days.
Market watchers highlighted a key breakout through a “sell wall,” a cluster of large sell orders that, once absorbed by buyers, often signals strong upward momentum. Analyst “CW” noted this move and identified $620 as the next likely resistance level to test if the trend persists.
On the longer-term chart, analyst “Ultimae GL” observed that BCH overcame a significant resistance barrier that had held for some time, suggesting the beginning of a fresh upward trend. Ultimae GL recommended waiting for a clear daily close above that resistance before entering, while projecting a possible rally up to $680.
Another market observer, “XForceGlobal,” pointed to BCH’s consistent support above its base trendline—a line that connects rising lows over the past month—indicating steady buying pressure and strengthening momentum. They described the current rally as “fantastic,” reflecting strong and sustained interest.
Bitcoin Cash, a 2017 fork of Bitcoin designed for faster and cheaper transactions, has recently drawn renewed attention as volume increases alongside positive chart setups, attracting both retail and technical traders.
Technical Highlights
- BCH gained 5.62% from $554.54 on July 26 at 09:00 UTC to $584.66 by July 27 at 08:00 UTC, trading within a $33.61 range.
- Two volume spikes occurred at 01:00 and 06:00 UTC on July 27, with peak trades of 80,230 and 120,748 units.
- Support zones formed between $556–$558 and $568–$570 after consolidation; resistance near $585 remains a key level.
- In the last hour of trading, BCH advanced another 0.46% to an intraday high of $584.95, with fresh support emerging at $583–$584, signaling ongoing bullish momentum.
