Bitcoin Cash could see some buying at the 38.2% fib level in case of a breakdown from the 50% Fibonacci retracement level.
Rejection at this upper ceiling pushed BCH south and toward the 50% retracement level present at $964.2, but this area was yet to establish itself as a strong support zone.
The 38.2% fib level has been maintained by the bulls in the past and a dip towards this point would spur some buying in the market.
Judging by its recent price behavior, a bounce back from the present support mark at $55,888 would see the price break above the $58,480 upper ceiling.
If the buying spree pushes BNB above the $640-barrier, the price would likely witness a surge and head towards $720 and even $770 before an eventual correction.
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