The cryptocurrency market is advancing this trading week; Bitcoin continued its surge and reached a new all-time high above $58,000. This situation also supports Bitcoin Cash’s price, and in less than three weeks, the price of BCH has advanced from $390 above $779.
February has been a very positive month for the cryptocurrency market so far – Ethereum, Bitcoin, and Bitcoin Cash are leading this trend, and for now, there is no risk of the trend reversal. Bitcoin Cash was one of the best performers on the cryptocurrency market in the last several weeks, and as long the price is above $600, it remains in a buy zone.
The important resistance levels are $750 and $800; $650 and $600 represent strong support levels. If the price jumps above $750, it would be a signal to buy Bitcoin Cash, and the next price target could be around $800. On the other side, if the price falls below the $600 support level, it would be a firm “sell” signal and possibly a trend reversal sign.
Bitcoin Cash price is advancing since the beginning of the year, and for now, there is no trend reversal sign. If the price jumps above $750, the next price target could be around $800, but if the price falls below the $600 support level, it would be a firm “sell” signal.
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