The post Bitcoin Cash (BCH) Surges to $584.80 as Bulls Test Critical Resistance appeared on BitcoinEthereumNews.com.

Lawrence Jengar
Jul 27, 2025 08:12

BCH price rallies 5.77% to $584.80, approaching overbought territory with RSI at 70.4 as traders eye key $587 resistance breakout.

Quick Take • BCH currently trading at $584.80 (+5.77% in 24h) • Bitcoin Cash RSI hits 70.4, signaling overbought conditions but strong momentum continues • Recent 8% surge to $555.20 testing critical trendline catalyst for current rally What’s Driving Bitcoin Cash Price Today? The BCH price surge reflects sustained momentum from July 25’s breakthrough rally when Bitcoin Cash spiked 8% to $555.20, successfully testing a descending trendline that historically triggered sharp sell-offs. This technical breakout has emboldened traders, pushing BCH price even higher to current levels of $584.80. The rally builds on strong fundamentals established earlier this week. On July 20, Bitcoin Cash surpassed $500 following the release of Knuth v0.68.0 technical upgrades and a remarkable 122% spike in whale transactions, indicating substantial institutional interest. This institutional backing has provided crucial support for the current BCH price momentum. Despite concerns from the July 16 BigONE exchange security breach that affected $27 million in assets, Bitcoin Cash demonstrated resilience by maintaining position above $520 support levels. This stability amid broader market uncertainty has reinforced trader confidence in BCH’s underlying strength. BCH Technical Analysis: Overbought Conditions Signal Caution Bitcoin Cash technical analysis reveals a complex picture of strength mixed with warning signals. Bitcoin Cash’s RSI currently sits at 70.40, indicating overbought conditions that typically precede short-term corrections. However, the momentum remains decidedly bullish with BCH MACD showing positive divergence at 18.65 above its signal line of 14.02. The Stochastic oscillator presents even more extreme readings, with Bitcoin Cash’s %K at 97.91 and %D at 93.85, suggesting the rally may be overextended. These momentum indicators conflict with the underlying…

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Filed under: News - @ July 27, 2025 9:29 am