Bitcoin Cash (BCH) has reached an eight-month peak, trading at $522.40 backed by strong bullish momentum and reinforcing technical signals. The cryptocurrency’s surge follows a positive BBTrend reading indicating mounting buying pressure and heightened investor demand, signifying a strengthening upward trajectory.
Crucially, Bitcoin Cash’s Smart Money Index (SMI) has climbed over 220% to hit 85.1, underscoring a significant rise in investor confidence. Current projections suggest BCH could test the $556.40 resistance threshold if the bullish sentiment persists.
Traders are monitoring for potential profit-taking events that could trigger corrections toward $490.80 or lower support zones. With market volatility in focus, the cryptocurrency’s next directional move hinges on its ability to maintain key technical levels in the sessions ahead.