- Bitcoin Cash rebounds strongly, testing the $540 resistance after recovering from $443.
- A breakout above this level could push prices toward $650.
Bitcoin Cash (BCH) is showing renewed strength as it breaks above key resistance levels, signaling a potential continuation of its bullish trend. After weeks of consolidation, the cryptocurrency is now testing the $540 mark — a critical hurdle that could determine its next major move.
BCH Price Outlook Turns Positive
Following a low of $443, Bitcoin Cash has staged an impressive rebound, trading around $557 at the time of writing. The coin is currently positioned above the 50-day simple moving average (SMA) but just below the 21-day SMA — a sign that bulls are attempting to reclaim dominance.
If BCH successfully breaks above the 21-day SMA resistance, analysts suggest the next price target could be around $650. On the 4-hour chart, both moving averages are trending upward, with the 21-day SMA crossing above the 50-day SMA, reinforcing a bullish setup.
Support and Resistance Levels to Watch
Since mid-October, Bitcoin Cash has traded within a narrow range of $440 to $560. Bears previously attempted to drag the price below $440, but strong buyer support prevented a deeper drop. This level now acts as a critical floor.
If buyers manage to hold BCH above the $510 resistance-turned-support zone and break decisively past $540, a bullish continuation could follow. However, failure to maintain current levels may open the door for a retest of $440 — and possibly a drop as low as $265 if that support fails.
A Pivotal Moment for Bitcoin Cash
The recent price activity suggests growing optimism among traders, especially with the broader market showing signs of recovery. The key now lies in whether BCH can sustain its push beyond $540 and confirm a new upward trend.
A clear break above that level could set the stage for a climb toward $650 in the near term, solidifying Bitcoin Cash’s position among the top-performing altcoins of the month.
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