Can Bitcoin Cash break through $700? The key test after a two-month rebound.

[Coin World] Bitcoin Cash has performed quite well in the last two months, with a rise of over 40%. However, from the chart, this rising trend seems a bit awkward—prices have been oscillating around the range of 443 dollars, which indicates that the buying power may not be strong enough.

From the daily perspective, although some bullish signals have appeared, the overall situation is still a bit unclear. The pullback may not have reached its bottom, and there is also a risk of breaking downwards. If it falls below the support at 529 dollars, it is very likely to retest the low points created between September and October, at which point the entire approach will need to be re-evaluated.

Looking up, there is pressure around 651 US dollars, and the current rising momentum is somewhat stuck here. 700 US dollars is the key position that needs to be broken through. As long as this resistance is not effectively broken, it is hard to say how significant this rebound is. Only when this key price level is broken will it be worth paying more serious attention to subsequent performance.

The good news is that the trend on the weekly chart is still rising. According to the usual rhythm, once the current round of adjustment ends, there should be more rising space to be released.