Bitcoin Cash (BCH) volume surged by 500%, targeting the $500 mark.

Gate News bot news, although Bitcoin Cash (BCH) has historically seen significant fluctuations and retail investor speculation has gradually subsided, recent signs indicate that institutions are reassessing. Analysts point out that the simplicity of its expansion, fast settlement times, and a long-term technical foundation above 400 dollars are factors that are rekindling people's interest. According to the technical analysis published by CoinDesk: Bitcoin Cash ( has increased by 6.5% in the last 24 hours, rising from 461.87 to 492.08 USD; During the period from 13:00 to 14:00, the trading volume surged 5 times (exceeding 152,000), confirming the breakout; The price broke through the long-term trend line resistance around 472 dollars and maintained above the 100-hour moving average )SMA(. Multiple tests of the $500 mark indicate that psychological resistance still exists. The support level is at 490.46 dollars; the consolidation area is currently between 485-492 dollars; RSI is rising, still has room for further increase; MACD has entered the bullish zone; If 500 dollars is effectively broken through, the next target for the bulls may be 505 dollars or 520 dollars.