Bitcoin Cash remains within a daily ascending channel, showing strength with a bounce off the $500 midline zone.
Price structure favors bulls while support above the 50-day SMA at $510.4 remains intact.
A breakdown below $500 could shift attention to the lower boundary between $460 and $480.
Bitcoin Cash ($BCH) is showing renewed strength after rebounding from the $500 midline of its ascending channel structure. With this key level holding, price momentum could favor an upward move toward the channel resistance between $580 and $600 if structure remains valid.
Bitcoin Cash Trades Within Clear Daily Ascending Channel
Bitcoin Cash is currently moving inside a clean ascending channel that has shaped price behavior since March. The structure includes consistent higher highs and higher lows, defining a controlled bullish trend.
This pattern offers clear reference points, with the lower boundary acting as support and the upper band serving as a resistance target. The current price of $552.59 reflects a 24-hour gain of 2.29%, though the asset has declined by 4.78% over the past week.source:
Midline Support and Moving Averages Reinforce Bullish Outlook
The latest price action shows a strong rebound from the midline, located near $500. This area has previously acted as both support and resistance.
That bounce coincides with the 50-day simple moving average (SMA) at $510.4. The 20-day exponential moving average (EMA), currently at $548.3, adds short-term resistance but also shows trend support.
A tweet by @alphacryptosign stated: “$BCH just bounced off the midline and is heading higher… expect upside toward the upper boundary.” This aligns with market behavior suggesting the midrange is critical for near-term direction.
Volume and Structure Support Bullish Continuation—If Key Levels Hold
Volume on the midline bounce shows build-up, suggesting that there is bearish affliction into $510 which will keep to hang in bullish charge. If buyers hold this zone, the price could retest $580–$600 range which is channel top.
A break below the midline with volume could invalidate the structure. In that case, BCH may fall toward $460–$480, the lower band of the channel. Until then, structure favors trend continuation.
