Bitcoin Cash (BCH) Upside Recovery

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The Bitcoin Cash market has witnessed a strong price correction — falling from above the $600 price level and rebounding upward from below $450. The coin has seen price growth of just 1.02% at the time of writing, but further gains may be expected.

BCH Prime Statistics

Current Price: $511.3

Market Capitalization: $10.17B

Circulating Supply: 19.94M BCH

Total Supply: 19.94M BCH

CoinMarketCap Rank: 15

Key Price Levels

Resistance: $550, $600, $650

Support: $500, $450, $400

Bitcoin Cash Upside Retracement Appears Weakened

Price movement in the BCH daily chart has moved above the 9-day Exponential Moving Average (EMA) curve. Since the previous session, the corresponding price candle has been relatively small. The ongoing session has formed a green but compressed candle with an upper shadow, indicating reduced bullish momentum.

Nevertheless, trading continues above the 9-day EMA, and the Stochastic Relative Strength Index (SRSI) indicator maintains an upward trajectory, with its terminals reaching deep into the overbought region.

BCH Maintains a Bullish Outlook

In the Bitcoin Cash 4-hour chart, trading activity remains above the 9-day EMA curve, suggesting that the token’s price could continue to rise. The corresponding price candle in the ongoing session has a more prominent body, showing sustained bullish activity.

Similarly, the SRSI indicator lines continue to move upward above the 70 mark, reinforcing bullish sentiment. Therefore, it can be concluded that the market has a short-term target around the $550 price level.

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