Bitcoin Cash (BCH) Rockets to Yearly High Following 75% Hike — No Major Resistance Ahead

Key Takeaways

• Bitcoin Cash has surged to $525, representing a 75% increase over the past 90 days.
• Support exists between $478.31 and $508.11, indicating that BCH’s rally may extend.
• BCH price will likely break toward $640 since indicators reveal it is not overbought.

Bitcoin Cash (BCH) just broke past multiple resistance levels to hit $525, its highest price since Dec. 18, 2024.

Over the past three months, BCH has surged 75%, making it one of the strongest performers in the crypto market.

The rally comes as optimism builds around a possible Federal Reserve rate cut later this month.

With macro conditions shifting, many are betting the momentum could carry BCH even higher.

In this analysis, CCN breaks down how BCH got here and whether the technicals suggest there’s more upside ahead.

Bitcoin Cash Rallies Again

Bitcoin Cash (BCH) has climbed to a new yearly high, pushing 83% of its holders into unrealized profit, a major turnaround from earlier this year when it briefly fell below $300.

The weekly chart shows BCH is now pressing against the upper boundary of a falling channel, with strong support holding near $267.75.

Try Our Recommended Crypto Exchanges

Sponsored

Disclosure

We sometimes use affiliate links in our content, when clicking on those we might receive a commission at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy.

Revolut

promotions

Earn a bonus amount of money for each successful referral' banner you execute.

Coins

214

Claim Offer

eToro US

promotions

Get $10 of free Qualified Cryptocurrencies when you register and verify your account.

Coins

83

Claim Offer

DISCLAIMER: Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.

Uphold

promotions

Trusted, Secure & Crypto Friendly

Coins

282

Claim Offer

DISCLAIMER: Don’t invest unless you’re prepared to lose all the money you invest.

While BCH has been rejected at this resistance level twice before, this time could be different.

The Moving Average Convergence Divergence (MACD) is flashing a bullish signal, as the 12-day Exponential Moving Average (EMA) (blue) crossed above the 26-day EMA (orange) back in April, a trend that’s still holding.

If momentum holds and the breakout succeeds, Bitcoin Cash could soon be eyeing the next major psychological level above $600.

No Ceiling in Sight

To further assess Bitcoin Cash’s short-term outlook, we analyzed the In/Out of the Money Around Price (IOMAP) metric, which identifies key support and resistance levels based on on-chain wallet activity.

According to IntoTheBlock data, strong buying support exists between $478.31 and $508.11, where many addresses previously acquired BCH at a profit.

In contrast, the resistance zone, formed by holders in unrealized losses, sits between $524.67 and $604.14.

Because the volume of profitable addresses in the support zone outweighs those in the resistance cluster, the path of least resistance may be upward.

If buying momentum continues, Bitcoin Cash’s price could easily break above the $525 level and rally toward the upper band of the resistance range.

BCH Price Prediction: Higher Values

On the daily chart, Bitcoin Cash is trading in an ascending channel. The chart below shows that the altcoin has been hitting higher and lower highs.

Amid this, the Relative Strength Index (RSI) reading has increased. However, it also shows that BCH has not yet been overbought.

Due to this position, the price will likely break the resistance at $547.82. In addition, the Chaikin Money Flow (CMF) has held its ground above the zero signal line.

If this trend continues, BCH’s next target might be $640 as long as buying pressure increases.

However, if bears outpace bullish pressure, this prediction might not pass as BCH’s price might drop to $444.66.