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Bitcoin Cash (BCH) Eyes Breakout as Price Hits $460

  • Bitcoin Cash (BCH) surged by nearly 8% to reach $460.67, leading to a market cap of $9.16 billion.
  • The 24-hour trading volume for BCH rose by 18.21% to $431.28 million, indicating increased market confidence.
  • Technical analysis suggests that BCH is approaching a breakout point, with resistance near $464 and potential support at $431.
  • The Relative Strength Index (RSI) is at 63.80, supporting the current uptrend momentum without being overbought.
  • The Chaikin Money Flow (CMF) remains positive at 0.12, indicating ongoing capital inflow and reduced chances of bearish divergence.
  • Moving averages show a bullish trend, with shorter-term averages surpassing longer-term ones, suggesting continued upside potential.
  • Despite bullish signals, traders need to monitor the $464 resistance level closely to anticipate potential price movements.

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