Bitcoin Cash Holds $580, Eyes $630 Breakout
Bitcoin Cash price is trading in a tight $580–$640 range after peaking at $607 on July 27 and dipping to $517 before buyers stepped in. On August 11, BCH price briefly broke above $632 but pulled back near the $630 resistance. Technical indicators remain mixed: the weekly moving averages are flat, confirming a sideways trend, while the 21-day SMA stays above the 50-day SMA, signaling underlying bullish momentum. BCH price is currently in overbought territory after testing the $640 zone. Key resistance levels lie at $600, $630 and $650, with support zones at $580, $500 and $450. A successful breakout above $630 could propel Bitcoin Cash toward its April 2025 high of $701. Failure to breach this barrier may keep BCH range-bound between $580 and $630. Traders should watch whether BCH price can hold above the 21-day SMA to resume its uptrend or risk further downside if it falls below key moving averages.
Neutral
The news highlights Bitcoin Cash’s continued sideways trading between $580 and $630, with mixed technical signals suggesting both bullish potential and range-bound pressure. A failed breakout at $630 may lead to further consolidation or a short-term pullback, while a clear move above key resistance could reignite a sustained uptrend toward April 2025 highs. Overall, these balanced factors imply a neutral market impact in the near term.