Bitcoin Cash (BCHUSDT) is making waves in the crypto market with a 2.3% surge, reaching $571.3 on July 30, 2025. Traders are eyeing key resistance and support levels as bullish momentum builds. Will this uptrend continue, or is a pullback imminent? Let’s dive into the details.
Bitcoin Cash Price Action: Bullish Momentum Confirmed
Bitcoin Cash opened at $560.8 and closed at $565.5, peaking at $571.3. The 24-hour trading volume hit 58,000.95 BCH, with a notional turnover of $32,448,799.51. Key highlights:
- Price rose from $560.8 to $571.3, a 2.3% gain.
- Resistance at $567.7 and support at $563.2 were tested multiple times.
- A bullish engulfing pattern near $565.3 signaled potential upward movement.
Crypto Trading Strategies: Analyzing Key Indicators
Technical indicators suggest strong bullish momentum but caution is advised:
- Moving Averages: 20-period MA crossed above the 50-period MA, reinforcing bullish sentiment.
- RSI: Approached 68, nearing overbought territory, hinting at a possible pullback.
- MACD: Positive divergence indicates sustained buying pressure.
Market Analysis: What’s Next for Bitcoin Cash?
With volatility rising and the price near the upper Bollinger Band, traders should watch for:
- Support levels at $563.2 and $560.3.
- Fibonacci retracement levels, particularly the 78.6% target near $570.5.
- Volume surges confirming bullish strength.
Conclusion: Is Bitcoin Cash a Buy or Sell?
Bitcoin Cash shows strong short-term bullish momentum, but overbought RSI and Bollinger Band expansion suggest caution. Traders should monitor key levels and volume trends for confirmation.
Frequently Asked Questions (FAQs)
1. What caused Bitcoin Cash’s price surge on July 30, 2025?
The price rose due to bullish momentum, confirmed by a bullish engulfing pattern and increased trading volume.
2. Is Bitcoin Cash overbought?
The RSI near 68 suggests it’s approaching overbought territory, but not extreme yet.
3. What are the key resistance levels for Bitcoin Cash?
$567.7 is a critical resistance level, with $570.5 as the next target.
4. Should I buy Bitcoin Cash now?
Monitor for pullbacks to support levels ($563.2 or $560.3) before entering a trade.
