Bitcoin News Today: Bitcoin Cash Surpasses $555 on Third Trendline Breakout as Whale Activity Spikes 98% and Eyes $565 Threshold for 15%-30% Rally

Bitcoin Cash (BCH) has surged past $555, testing a critical descending trendline that has historically constrained its price action. The move follows a third attempt to breach this barrier, which has previously triggered sharp declines exceeding 50% on two occasions. Traders are now closely monitoring whether this latest effort marks a turning point. A daily close above $565 could catalyze a 15%–30% rally, according to technical analysis [1].

The price action reflects broader momentum in the market. On July 25, BCH ranked third on CoinMarketCap’s top gainer list, surging 8% to reach $555.20. This level coincides with the trendline that has defined BCH’s bearish trajectory since mid-2024. A breakthrough here would signal a potential shift in sentiment. Analysts note that weekly momentum remains robust, with the Relative Strength Index (RSI) at 64—a level indicating strong buying pressure without overbought conditions [1].

Whale activity has intensified, with on-chain data showing a 98% spike in large transactions on July 25. IntoTheBlock reported that 1.69 million BCH were moved in a single day, suggesting institutional interest. However, exchange inflows of $4.65 million in 24 hours have raised caution. While large holders appear to be positioning for upside, the inflows suggest some traders may be preparing to sell at higher levels. This duality creates uncertainty about whether the current rally will sustain or face a reversal [1].

The technical outlook hinges on the $565 threshold. A sustained close above this level would invalidate the bearish trendline and open the door to higher targets. According to analyst forecasts, these include $625, $1,245, and $1,830, contingent on continued bullish momentum [1]. Conversely, a failure to hold above $565 could trigger another deep correction, echoing previous breakdowns. The market is now in a holding pattern, with traders awaiting a definitive price signal to determine the next move.

Bitcoin Cash’s performance underscores the delicate balance between breakout potential and historical resistance. While whale activity and technical indicators favor a bullish scenario, the risk of a repeat of past failures remains. The coming days will be critical in shaping BCH’s trajectory, with all eyes on the $565 level as the key inflection point.

Source: [1] [Bitcoin Cash Breaks $555—Is a Bigger Move Finally on the Horizon?](https://cryptonewsland.com/bitcoin-cash-breaks-555/)