#BitcoinCash (BCH) Faces Bearish Pressure as Trading Volume Spikes 📉

Bitcoin Cash ($BCH

) is experiencing slight downward pressure today, trading at $578.4 with a -0.28% price dip over the last 24 hours. Despite the minor decline, the 24-hour trading volume surged to $42.01M, marking a 328% increase, indicating heightened market activity and volatility.

Key Highlights:

Price: $578.4 🔻

24H Volume: $42.01M 📊 (+328% surge)

Price Change (24H): -0.28%

RSI (14): Neutral (0❗️) → Market indecision

Funding Rate: -0.013% 🔻 → Slight short-selling pressure

EMA50 & EMA100: Both trending down, signaling ongoing bearish sentiment

BTC RSI: 54.25 → Neutral momentum on broader market

Market Outlook:

While the BCH price shows a slight decline, the massive volume spike suggests strong participation from both bulls and bears. The negative funding rate indicates short positions are slightly dominant, but a volume-driven breakout could occur if momentum shifts.

If BCH breaks above $590, it could retest the $605 resistance zone. However, if selling pressure continues, the next support lies near $560.

Hashtags:

#BCH #BitcoinCash #CryptoMarket #Altcoins #Blockchain #CryptoTrading #BinanceSquare