BCH strongly breaks through 500 USD! Next stop: 52-week new high, target aimed at 600?

Bitcoin Cash (BCH) surged 18.29% in just 24 hours, successfully breaking through the key resistance level of 500 USD. Accompanied by strong bullish signals, including a golden cross and positive performance of MACD, market sentiment is being ignited!

Technical analysis:

EMA cross: The 50-day and 200-day moving averages achieved a golden cross, with clear signals for a strong upward attack in the short term. MACD turns bullish: The indicator successfully avoided a death cross, forming a continuation of the bullish trend. Fibonacci levels: Breaking through the 50% retracement level (493 USD), the current target is set at 541 USD, with further targets of 608 USD and 694 USD in sight.

Support and resistance:

Key support levels: 493 USD, 446 USD

Strong resistance level: 803 USD (Fibonacci 1.27 extension target)

Next, can BCH create a new 52-week high or even break through 1000 USD?

The current V-shaped reversal has pushed the increase to 61.3%, and the market is gearing up for a new bull market. In the long term, BCH is expected to challenge the 1000 USD mark in a recovery trend, and its potential is worth continuous attention.

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