Bitcoin News Today: Bitcoin Cash Surges 0.14% to $583.99 as 24-Hour Volume Soars 66.74% Amid Key $600 Resistance Test

Bitcoin Cash (BCH) has demonstrated resilience in its ongoing uptrend, with price movements and trading volumes indicating sustained bullish momentum despite facing resistance near the $600 level. As of July 28, 2025, BCH traded at $589.70 on OKX, maintaining a position above key technical levels such as the 9-day exponential moving average (EMA) and 50-day simple moving average (SMA), which are at $552.40 and $494.40, respectively [1]. This suggests that the bullish trend remains intact, supported by on-chain metrics and accumulation activity [2].

Price action over the past week highlighted the asset’s volatility. On July 12, BCH briefly surged to $600, a level previously acting as a ceiling, but retreated to $588.20 amid heightened intraday volume. While the $600 threshold remains unbroken, traders have interpreted the consolidation as a temporary pause rather than a reversal. Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators signaled a potential recovery after the price dipped below the critical $580 support level [1]. CoinMarketCap reported a 0.14% daily gain to $583.99, with prices fluctuating between $585 and $605 during the session [3].

The broader structural context underscores BCH’s long-term shift from a downtrend that began in November 2024. A V-shaped recovery from February to April 2025 established a pattern of higher highs and higher lows, reinforced by a dynamic support trendline and growing trading volume. On July 28, intraday volume reached 4.27K BCH, reflecting increased participation [1]. However, the asset’s inability to break through $600 has created a psychological barrier, with analysts noting that sustained trading above $580 would signal renewed bullish intent [3].

Technical analysis emphasizes key price levels for potential direction. If BCH fails to clear $600, the $580–$582 range acts as immediate support, while a breakdown below this could push the price toward the $440–$470 area, a former resistance zone now viewed as a demand cluster. Conversely, a successful breakout above $600 might trigger tests of $640, with the 7.9% volume-to-market cap ratio indicating short-term speculative interest [1]. Analysts at XT.com caution that maintaining levels above $570 is critical for confirming the uptrend’s integrity, while Bitget projects a year-end target of $571.26 based on current trajectories [2].

The 24-hour trading volume for BCH surged 66.74% to $918.5 million, outpacing its average and reflecting heightened liquidity. This aligns with broader altcoin rallies, though BCH’s performance remains distinct from mixed signals in Bitcoin’s $118,704 correction. On-chain data suggests accumulation by both institutional and retail participants, with technical indicators pointing to a balance between bullish and bearish pressures [2].

While forecasts vary, the consensus among traders focuses on key technical levels. Analysts predict a potential breakout toward $620–$680, with more ambitious scenarios projecting a rally to $1,509. However, these remain speculative, as the market’s ability to sustain volume above $580 will ultimately determine the next phase. For now, BCH’s structure suggests a continuation of its bullish momentum, albeit with caution around unresolved resistance [1].

Source:

[1] [Bitcoin Cash Surges Past $580 as Analysts Predict Breakout Toward 620-680 Range](https://cryptoadventure.com/bitcoin-cash-surges-past-580-as-analysts-predict-breakout-toward-620-680-range/)

[2] [Bitcoin Cash Price Prediction: BCH Breaks $600 Eyesa 150 Price Explosion](https://www.xt.com/en/blog/post/bitcoin-cash-price-prediction-bch-breaks-600-eyesa-150-price-explosion)

[3] [Crypto Today: Bitcoin, Ethereum, XRP Showcase Bullish Momentum](https://www.mitrade.com/kr/insights/news/live-news/article-3-991853-20250728)