Bitcoin Cash Surpassed 550 Dollars, The Rate of Increase is Rising

Bitcoin Cash Gains Momentum

Bitcoin Cash (BCH) rose to $554.52, surpassing the $550 barrier with an increase of 130,078 in trading volume at 1 a.m. UTC. This movement has drawn attention to new developments in the technical outlook of Bitcoin Cash.

Support Levels Are Being Established

The current model identifies the first support level at $553.50, while the consolidation range is compressed between $553 and $556. Previous support levels have been recorded at $547 and $550.

Trend Analysis and Future Targets

Analyses conducted on Bitcoin Cash indicate that highs have formed at $528.55 and $534.36. Upon a quick glance, the next critical level stands out at $558.25.