Bitcoin Cash Surges Past $580 as Analysts Eye Next Targets Between $620 and $680
Bitcoin Cash (BCH) rallied strongly on Sunday, pushing above the $580 level with a 5% gain, driven by bullish technical setups that suggest further upside toward the $620–$680 range.
As of 08:54 GMT, BCH was trading around $583.64, reflecting a 5.25% daily increase, according to CoinDesk data. The token has gained 10.5% over the last seven days, 15.7% in two weeks, and 17.3% over the past month.
Technical observers flagged the breakout above a significant “sell wall,” a cluster of large sell orders that, once overwhelmed by buyers, often leads to accelerated price moves. Analyst “CW” identified this development and pinpointed $620 as the next resistance level to watch.
On the longer-term chart, “Ultimae GL” noted that BCH cleared a key resistance barrier that had capped gains for an extended period, potentially signaling the start of a fresh uptrend. While recommending confirmation through a strong daily close above resistance, Ultimae GL projected a possible rally to $680.
Another analyst, “XForceGlobal,” highlighted BCH’s steady support above its base trendline — a line connecting a sequence of higher lows over roughly a month — indicating consistent buying interest. They described the rally as “fantastic,” signaling robust momentum building.
Bitcoin Cash, which emerged in 2017 as a Bitcoin fork focused on faster and cheaper transactions, has recently attracted increased attention as rising volume and bullish price action spark renewed interest among both retail and technical traders.
Technical Highlights
- BCH gained 5.62% between July 26 at 09:00 UTC and July 27 at 08:00 UTC, rising from $554.54 to $584.66 within a $33.61 intraday trading range.
- Two significant volume spikes hit 80,230 and 120,748 units at 01:00 and 06:00 UTC on July 27, respectively.
- Support zones developed around $556–$558 and $568–$570 following consolidation; resistance remains near $585.
- BCH added 0.46% in the final hour of trading, reaching an intraday high of $584.95, with fresh support established between $583 and $584, signaling continued bullish momentum.
