Bitcoin Cash (BCH) Price Action Pokes Through the $700 Mark

The Bitcoin Cash market has been bullish in recent times, as the token’s price keeps rising through multiple resistance levels. The market recently broke the resistance at the $600 mark. More moves have been seen afterward, and today’s session, as of the time of writing, has poked through the $700 mark. Let’s examine how far this move may continue.

BCH Statistics:
Current Bitcoin Cash Value: $704.8
BCH Market Cap: $13.60 billion
Bitcoin Cash Circulating Supply: 19.69 million
BCH Total Supply: 21 million
Bitcoin Cash CoinMarketCap Rank: 13

Key Price Levels:
Resistance: $704.8, $720, and $740
Support: $700, $680, and $660

Bitcoin Cash Market Records Another Significant Price Increase

Today’s trading session so far in the BCH market has seen considerable profits. The current session has seen price action push its way through the $700 resistance level. Meanwhile, trading continues above the Guppy Multiple Moving Average (GMMA) indicator lines. The last price candle on this chart stays solid green.

This maintains that bulls are still in control of the price movement. Additionally, we can see that the Stochastic Relative Strength Index (RSI) indicator lines are now converged and ready for a crossover. By implication, this signals a renewal of momentum for upside forces, suggesting traders may still want to use bullish crypto signals in this market.

Resistance at $705 in the BCH Market Seems Too Weak

The Bitcoin Cash 4-hour price movement seems to be facing a minor rejection at the resistance at the $705 mark. However, bulls still have the strength to subdue this resistance, as the rejection lies at a significant height above the GMMA indicator lines.

Likewise, the SRSI indicator lines have delivered a bullish crossover in the overbought region. The ensuing indicator lines maintain an upward trajectory, affirming that bulls may still be in control. Therefore, signs emanating from this market mostly align with the opinion that price activity may continue toward the $710 resistance level.

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