Bitcoin Cash (BCH) Bulls Gain Strength, Setting Eyes on $680 Level
- Bitcoin Cash (BCH) price jumps 10% in a single day, showing renewed bullish interest.
- Binance’s top traders sharply increased BCH long positions today.
- Critical resistance sits at $600–$620; support remains strong at $565–$575.
- RSI and MACD confirm bullish momentum without overbought conditions.
Bitcoin Cash (BCH) top trader account data on Binance shows a sharp surge in bullish sentiment, with long dominance jumping from nearly 50% to 95–99% before cooling slightly and stabilizing around 85–90%. This aggressive shift aligns with BCH pumping 10% in just one day.
BCH position ratios also confirm this sentiment, rising from around 1.10 to 1.90–2.00, then briefly dropping near 0.60–0.70 before rebounding again close to 2.00. This strong recovery in longs reflects renewed confidence and strengthening bullish momentum among Binance’s top traders.
Also Read: Bitcoin Cash (BCH) Technical Outlook Signals Short-Term Pause Before $615 Rally
BCH Faces Key Resistance and Support Levels
Bitcoin Cash is now hovering near a major resistance zone between $600 and $620. Sellers have pushed the price down in this area several times before. The latest sharp bounce from $525–$535 shows strong buying interest returning, with bulls confidently stepping back into the market after recent weakness.
The nearest level of support is between $565 and $575, with a healthy retest in this area possibly stabilizing the market, provided that buyers continue to participate. Remaining above the support level maintains the bullish setup. Breaking above $620 with conviction can unlock additional momentum, leading to $645, $660, and even $680.
However, if Bitcoin Cash is unable to break through its resistance, it may again be forced to reject prices, leading to consolidation and a pullback. Breaking below $575 will surely bring about further selling pressure, leading to a fall back to the $535 zone of demand. A fall from this point may again bring about the $500 level.
Technical Indicators Signal Strengthening Momentum
The current reading on the RSI is close to 64.5, which is a strong bullish signal but still short of the overbought level of 70. It suggests that the dominant players in the market are buyers, but it is not overvalued. The RSI is still above its average level of 50.
The MACD depicts a bullish pattern with the MACD line above the signal line. This indicates that the momentum is positive. The histogram is slightly negative, but it is improving, which indicates that the bear pressure is diminishing. This indicates that the bear pressure is diminishing. The fact that the MACD and signal lines are steep is an indication that the momentum is strong.
Also Read: Bitcoin Cash Price Alert: Could BCH Hit $1,235 by 2025?
You May Also Like
Why It Could Outperform Pepe Coin And Tron With Over $7m Already Raised
The Contrarian Truth: Why Bitcoin and Ethereum Prices Defy Social Media Sentiment
