Bitcoin Cash Holds Above $530 As Market Tracks Toward $638 Fibonacci Level

Bitcoin Cash is trading around $536.03 where it is above the level of support at $530.12 and it has an uneventful 24-hour drop of 0.3%.

The price movement remains within an increasing structure, and the resistance is at $548.37.

The chart is aimed at the $638 area, which meets the $1.618 Fibonacci extension of the $468.91 swing bottom.

Bitcoin Cash was trading around 536.03 on Wednesday with the market trading in a narrowing structure. Price dropped by 0.3 in the last 24 hours, but it has been above the level of support at $530.12.

The chart showed steady movement toward the upper boundary of a rising setup, while traders monitored the $548.37 resistance level. The broader structure also pointed to the 1.618 Fibonacci level at $638, which remained the next mapped target on the chart. This combination created a focused technical environment, and it shaped how traders evaluated the current zone.

Price Holds Key Fib Zones as BCH Compresses Toward Upper Resistance

The market built its latest advance from a swing low near $468.91, which formed the base of the current Fibonacci grid. That base supported a series of higher lows, which then guided the latest move. Price activity clustered near the 0.786 level at $530.19, which aligned closely with the stated support

This alignment created a clean reference point as the market pressed toward resistance. The chart’s structure showed the price oscillating inside a narrowing band, and that structure helped define the next visible reaction areas.

However, the market also respected the 0.618 level at $503.30, which served as the secondary buffer in the chart sequence. This area added depth to the setup and offered context for traders tracking retracement behavior. These stacked levels offered a consistent technical roadmap and kept the short-term view structured.

BCH Pressures $548 Resistance While Eyeing the $638 Fib Target

BCH approached the $548.37 resistance area with repeated tests during the past sessions. These tests shaped the short-term direction because they created a clear ceiling on the chart. Price behavior stayed stable within this boundary, and that stability allowed the rising trendline to remain intact.Notably, the $638 mark stood above the entire range as the 1.618 Fibonacci extension, which represented the next measured level on the chart. This level did not indicate a forecast but showed where the extension aligned in the structure. The chart also highlighted how the current range connected to this mapped marker, which allowed traders to understand the broader technical outline.