Bitcoin Cash (BCH) is making a strong comeback, moving quickly toward the $500 mark. Over the last 24 hours, BCH has increased by 4.5% to approximately $479.97, with a trading volume of over $546.4 million.
This growth reveals strong technical indicators, interest from major investors, and a breakthrough past a tough resistance level that had persisted for weeks.
On June 20, BCH broke through the $472 level, which had been a hard point to pass in previous trading. This led to a 6.5% rise in one day, reaching a high of $492.08.
During this period, trading volume was high, with over 152,000 BCH traded in just one hour, between 13:00 and 14:00 UTC. This volume was nearly five times the coin’s usual hourly volume, indicating that large investors, often called whales, were buying significantly.
Bitcoin Cash Technicals Align as Bulls Take the Lead
BCH’s upward momentum is being supported by a strong technical setup that confirms the rally is more than just a short-term bounce. According to Alpha Crypto Signal’s analysis, the Bitcoin Cash price has been trading within a clear ascending channel on the daily timeframe.
While many altcoins remain trapped in descending structures, the BCH coin is showing relative strength by respecting this bullish formation.
The coin is currently trading well above the 23.6% Fibonacci retracement level, which is at $471.57. It is also above its 100-hour moving average of $470.90, showing a positive trend.
The Relative Strength Index (RSI) sits at 54.14, indicating a neutral position. This means it is not overbought and still has potential for growth.
Moreover, BCH is trading above the Ichimoku Cloud’s Leading Span A at $435.65, which signals a clear bullish bias across momentum indicators. Bollinger Band data further supports this move.
On June 25, BCH closed at $478.82 after touching a daily high of $493.38. The candlestick range shows an 8.73% swing for the day, with higher lows and increasing volume, a healthy sign of continuation.
The Bollinger mid-band is currently at $447.43, while the upper band is expanding beyond $498, suggesting that the price still has room to breathe before facing overextension.
BCH Eyes $500 and Beyond: What’s Next?
The next challenge for BCH lies just ahead. The $500 level is both a psychological and technical barrier. If the coin manages a strong close above that line, attention will quickly shift toward the $520–$560 region, where sell walls are already forming.
Analyst @CW8900 has identified this as the next critical resistance zone. If BCH breaks through it with volume support, the market could begin to price in a move toward $600 or even $700 in the coming weeks.
Alpha Crypto Signal supports this projection, noting that if the current ascending channel holds and closes are confirmed above $485 with sustained momentum, a push to $700 should not come as a surprise.
However, much depends on market-wide sentiment, Bitcoin’s price stability, and whether profit-taking kicks in at these two-month highs.
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