Bitcoin Cash (BCH) Bulls Are Keeping Up the Pressure

As of today, the Bitcoin Cash market has continued in its latest bullish trail that has its roots in April this year. At the time of writing, the coin shows a price increase of 3.16%. Additionally, trading indicators remain tilted in favor of the token recording more gains in subsequent sessions.

BCH Market Statistics

Current Price: $599.40

Market Capitalization: $11.93B

Circulating Supply: 19.92M

Total Supply: 19.92M

CoinMarketCap Rank: 17

Key Price Levels

Resistance: $600, $650, $700

Support: $550, $500, $450

BCH Eyes Price Levels Above $600

As noted above, the Bitcoin Cash daily market has the token trading just around the $600 price level. The last price candle on the chart stands green and continues trading activities above the 9-day Exponential Moving Average (EMA) lines.

Furthermore, the Stochastic Relative Strength Index (SRSI) lines are converging toward a bullish crossover below the 70 threshold of the indicator. Putting this together with the fact that trading is holding above the 9-day EMA, it appears clear that this market is headed toward higher ground.

Bitcoin Cash Buyers Keep Piling Up Bids

The BCH market on a 4-hour price chart has revealed that buying activity remains healthy. The session has appeared in the form of a long green price candle, which is positioned directly above the 9-day EMA lines. Nevertheless, some downward pressure is visible through the upper shadow on the last price candle.

Albeit, the SRSI indicator lines can still be seen trending upward without deflection into the overbought region of the indicator. This signals that bearish forces are minimal and their impact may be easily erased. Therefore, traders can look toward a short-term target at the $605 or $610 price levels.

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