- Bitcoin Cash jumped over 6% in 24 hours, trading near $608.
- The chart shows a confirmed double bottom.
- BCH hashrate is at 7.71 EH/s, above its 2017 peak.
Bitcoin Cash is up more than 6% over the past 24 hours, trading around $608 after printing a daily high near $610. The move follows a clean hold above the $580-$600 support zone, where buyers have stepped in repeatedly over the past weeks.
As per analysts, price action on the daily chart showed a completed double bottom near the $300 region earlier this year, followed by a steady series of higher highs and higher lows.
On lower time frames, BCH continues to print higher lows, showing consistent dip buying rather than short-lived spikes. The RSI is near 58, showing strength without entering overbought territory.
Moreover, the moving averages on higher time frames are trending upward and acting as support rather than resistance.
Source: X
$680 Remains the Key Battle Zone
The $680 area remains the major resistance. This level has rejected the price multiple times over the past year and aligns with a broader supply zone visible on the chart. Each rejection has led to pullbacks, but those pullbacks are now occurring from higher levels.
If BCH breaks and holds above $680, the chart opens room toward the $750–$800 region, where the next historical resistance sits. Failure to clear $680 would likely result in another reset toward the rising trendline, with downside support clustered around $560 and then $520.
Network Strength Adds to the Move
Beyond price action, on-chain data shows that Bitcoin Cash’s hashrate has climbed above 7 EH/s, surpassing its 2017 peak and sitting near all-time highs. This indicates growing miner participation and confidence in BCH’s network economics.
Circulating supply is also near its ceiling, with roughly 19.97 million BCH already issued out of a fixed 21 million. With most supply already distributed, increases in demand tend to result in sharper price moves, especially during periods of rising volume.
As long as BCH holds above the $600 region and maintains its higher-low structure, buyers remain in control. The immediate focus stays on $680.
Related: Bitcoin Cash (BHC) Price Prediction: BCH Attempts Recovery as Futures Activity Climbs
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Source: https://coinedition.com/bitcoin-cash-eyes-680-breakout-after-strong-support-hold/
