🎙️【BCH Morning Report｜July 31st, 9 AM】
Good morning everyone, here is the latest BCH market report!
As of 9 AM Beijing time, the latest BCH price is 582 USD, with a 24-hour increase of +3.2%. The intraday high reached 595 USD, and the low dipped to 554 USD, with a fluctuation exceeding 40 USD, and buying activity remains active.
📊 From a technical perspective:
• Short-term moving averages are all in a bullish arrangement, the structure remains strong.
• RSI is around 73, having entered the overbought zone, which carries a risk of correction.
• Support levels to watch are 580 USD and 570 USD; if it falls below 580, short-term adjustments should be cautious;
• The upper resistance is still in the 595 to 600 USD range; if there is a strong breakthrough, it is expected to open up space to 620 to 630 USD.
🧭 Operational suggestions:
Short-term holders can continue to observe, focusing on the performance at the 600 USD resistance level;
If the price dips to 580 but does not break, or falls to around 570, it is a good reference area for adding positions;
Conversely, if it breaks below 570 with increased volume, it is advised to control risks.
📌 Reminder: From September, USDT will terminate support on the BCH chain, long-term holders need to pay attention to liquidity structure adjustments.
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