Bitcoin Cash Consolidates Near $566 Support as Market Awaits Breakout

Bitcoin Cash is currently trading around $566.78, experiencing a 4.2% decline over the past week. Despite this dip, the cryptocurrency maintains support at $564.11 and resistance at $591.71. Traders are monitoring key market levels as Bitcoin Cash consolidates near its critical trendline. A breakdown below the trendline could target $380 as a potential downside risk. However, BCH has shown resilience against USD weakness, with a 1.3% gain against BTC at 0.004922 BTC.