Bitcoin Cash (BCH) Price Jumps 50% as Bulls Push Past 90-Day Resistance

Key Takeaways

• Bitcoin Cash (BCH) broke out from a long-term parallel channel.
• The BCH price bounced at the $300 horizontal support area.
• Did the breakdown mark the end of Bitcoin Cash’s bullish trend?
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Bitcoin Cash has struggled to maintain momentum since its cycle high in March 2024. Unlike Bitcoin (BTC), which hit a new all-time high in January 2025, BCH created a lower high in December 2024 and has fallen since.

However, the price showed resilience in the past two weeks by preventing a breakdown and bouncing at the $300 support area.

This led to an ongoing breakout, which led to the question: Why is Bitcoin Cash going up today, and how long will this increase continue? Let’s find out.

Bitcoin Cash Price Bounces

Since July 2023, the Bitcoin Cash price has increased inside a long-term ascending parallel channel. The upward movement culminated with the cycle high of $719.5 in April.

While the BCH price fell afterward, it bounced at the channel’s support trend line and the $300 horizontal support area (green icon).

However, the increase was short-lived, and BCH created a lower high near the channel’s midline (black circle) before breaking down in February 2025.

While BCH bounced at the $300 support again (green icons), the breakdown signals that the upward movement has ended. If this is the case, the current increase will be just a retest of the channel that leads to new lows.

Technical indicators do not help confirm the trend’s direction. The Relative Strength Index (RSI) is at 50 while the Moving Average Convergence/Divergence (MACD) is at 0, both signs of a neutral trend.

So, the weekly time frame is insufficient for a decisive BCH prediction.

Short-Term Correction Over?

The long-term BCH wave count suggests the price completed a five-wave upward movement between November 2022 and April 2024. If that is the case, BCH has possibly finished an A-B-C correction (red) in response to the upward movement.

The correction ended at exactly the 0.618 Fibonacci retracement support level and had 0.61 times the duration of the previous upward movement. Both are common ratios for such corrections, indicating the Bitcoin Cash price decrease may be complete.

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If this is the case, the BCH price will begin another upward movement, taking it to a new cycle high.

The alternative possibility is that this was the first part of a correction, and BCH will decrease again following a relief rally.

The second option fits better with the price action, which shows a breakdown from a long-term channel.

Bitcoin Cash’s short-term movement shows a breakout from a descending resistance trend line that existed for 90 days. A bullish divergence in the RSI and MACD led to the breakout, increasing its legitimacy.

However, the BCH price faces strong resistance between $420-$500, created by horizontal and Fibonacci levels.

If the BCH price manages to clear it, it will confirm that it has started a new upward movement that will take it above its cycle high.

On the other hand, a rejection and a lower high will instead mean the bearish option is playing out, in which the increase is a relief rally that will lead to new lows.

Uncertain BCH Trend

The BCH trend looked bearish after a breakdown from a long-term ascending parallel channel. However, the price showed resilience by bouncing at the $300 horizontal support area.

The BCH price is approaching a critical resistance between $420 and $500, which can help determine whether the increase is a relief rally or the beginning of a new upward movement.