Bitcoin Cash in strong rise: +7.8% in 7 days,
The post Bitcoin Cash in strong rise: +7.8% in 7 days, appeared on BitcoinEthereumNews.com.
Bitcoin Cash (BCH) registers a significant weekly growth, surpassing 453 dollars. But is the trend truly sustainable? A technical analysis reveals the bullish potential and the bearish risks. Key points of the Bitcoin Cash analysis Current price of BCH: $453.52, up by +7.8% in 7 days Volumes increasing by +65% in the last 24 hours Market sentiment strongly positive: 77% bullish Key technical levels between $420 and $460 Accumulation by whales on major Asian exchanges Bitcoin Cash (BCH) is back in the spotlight with a significant weekly increase and an optimistic market sentiment. The current bull phase seems supported by a strong increase in volumes and encouraging on-chain data. But what are the real technical scenarios for the short-term future? Summary of the technical analysis Current BCH price: $453.52 Market cap: $9.01 billion Volume 24h: $514 million (+65%) Circulating supply: 19.88 million BCH Technical resistance: area $460 Main support: $420 area Community sentiment: 77% bull according to CoinMarketCap In the last seven days, Bitcoin Cash has achieved a +7.81%, surpassing the 450-dollar level with volumes significantly increasing. The 7-day chart shows a solid recovery after a brief corrective phase at the beginning of June, with a sequence of rising lows and highs. According to on-chain data, the net buying pressure has increased by 77% in just 24 hours, particularly on exchange like Binance and OKX. This data suggests a strong interest from large investors (whale), often precursors of larger movements. Bullish Scenario (Bullish) If the buying pressure should continue, the levels to monitor for a possible extension of the rally are: Target 1: $460 Level already tested on June 15. A breakout confirmed by above-average volumes could trigger new momentum. Target 2: $480 Previous relative maximum at the beginning of May. An exceeding would mark a confirmation of the recovery…
