Bitcoin Cash Bounces 10% From $309 Support, Eyes $500

Bitcoin Cash (BCH) has recently demonstrated strong signs of a bullish resurgence after a period of uncertainty. The cryptocurrency has made a decisive bounce from a critical support level, which has reignited optimism among traders. This rebound suggests that the bulls are back in control, potentially opening the door for a sustained upside move.

According to a recent update, Bitcoin Cash (BCH) has staged a notable reversal from its long-term ascending support trendline, firmly holding above the crucial $309 level. This area has historically acted as a strong foundation for bullish moves, and the latest bounce further validates its significance. The action at this support signals renewed buyer confidence and indicates that BCH could be positioning itself for a sustained upward push. With price structure aligning with historical trends, this rebound may be the early sign of a broader bullish continuation forming on the charts.

Bitcoin Cash remains structurally sound within a descending wedge pattern. Despite recent pullbacks, the overall pattern is holding steady, and the strong defense at the $309 support level is keeping bullish hopes alive. As long as BCH stays above this zone, the technical outlook favors buyers, suggesting that momentum could gradually build in their favor. The analyst suggests that BCH could target the $480 and $500 resistance zone. A move above these levels might trigger a broader rally, with potential mid-term gains stretching toward the $600 and $1,200 range, signaling a strong recovery.

While BCH is showing encouraging signs of recovery, the key question now is whether this rally has the strength to hold. Sustained momentum will largely depend on continued buying pressure, strong volume confirmation, and broader market support. Technically, the price remains above the crucial $309 level, and as long as it holds, bulls retain control. However, if this setup fails and the price slips below the crucial $309 support level, it could signal a weakening bullish structure. Such a breakdown would invalidate the current reversal pattern and shift the focus back to lower support zones. In that case, BCH may revisit the next key levels around $211 and potentially $85, where buyers would need to step in to prevent a deeper correction.