- Bitcoin Cash is currently trading at $566.78, having lost 4.2% over the last week, having a support on $564.11 and a resistance at $591.71.
- The next good support, at approximately $380, may be tested with a daily break of a trendline. Increased risk to the downside will be indicated by a trendline breakout.
- Nevertheless, BCH has seen +1.3 against BTC at 0.004922 BTC, despite USD weakness, indicating some relative fortitude when trading pairs.
Bitcoin Cash (BCH) is trading under pressure after recent losses narrowed its price range on the daily timeframe. The cryptocurrency has fallen 4.2% over the past seven days, moving its value to $566.78 at press time . Market attention has turned to asset interaction with a major ascending trendline, which is still dictating price action in the near term. Traders are observing whether this structure will hold or a break below support levels to cause deeper downward movement.
Trendline Holds as Price Tests Support
On the daily chart, Bitcoin Cash shows a major trendline that has been active since April. The current test near this line highlights its importance for ongoing price stability. BCH is hovering close to its immediate support at $564.11, with resistance placed higher at $591.71. This narrowing range reflects the market’s caution as participants wait for direction.
The recent decline underscores increased downside pressure. Notably, a confirmed drop below the trendline could shift momentum toward lower targets. Observers are closely watching the $564.11 support level for signs of strength or weakness in the next sessions.
Bitcoin Cash Eyes $380 Support as Breakdown Risks Emerges
Should Bitcoin Cash break below the ascending trendline, the next significant support is projected at $380. The level has emerged as a strong area of interest on the chart, suggesting it could anchor further declines if the breakdown occurs. The potential move represents a considerable distance from current prices and emphasizes the importance of the present structure.
This possible decline reflects the technical setup rather than wider sentiment, as the chart data points to defined ranges and levels. The market has already established $380 as a zone capable of absorbing selling pressure, making it the key focus if weakness continues.
Range Bound Between Support and Resistance
Despite downward momentum, Bitcoin Cash remains locked within its trading band between support and resistance. The 24-hour range shows price stability inside these levels, even as volatility builds. Meanwhile, the BCH/BTC trading pair has advanced by 1.3% and currently costs 0.004922 BTC.
This comparative stability relative to Bitcoin compares to the dollar losses, which highlights the sophistication of market flows today. With both resistance and support levels clearly defined, BCH continues to move within its structure, while the trendline holds immediate significance. Market participants remain focused on whether this balance sustains or gives way to new direction.
