Bitcoin Cash (BCH) has continued its upward grind, climbing 3.8% in the past 24 hours to trade around $539. This move keeps BCH among the day’s top gainers, with a solid $928M in 24-hour trading volume.
Recent price action shows a decisive bounce from support, suggesting a potential next leg higher toward $662, provided momentum is sustained.
Bitcoin Cash Retests Critical Levels After Bullish Momentum
Over the past three months, BCH has steadily climbed 37%, breaking past the $540–$565 resistance zone, a level it hasn’t consistently held since December 2024.
The latest CoinMarketCap chart shows a healthy uptrend supported by rising volumes. Also, data shows that Bitcoin Cash (BCH) has a market capitalization of $10.7 billion and a fully diluted valuation of $11.3 billion.
On-chain data reveals diverse signals, with daily active addresses ranging from 50,000 to 300,000 since 2023. Despite this variability, BCH remains a leading proof-of-work blockchain, known for low fees and fast transactions as a peer-to-peer payment option.
BCH Could Be Heading Toward $662
Crypto analyst CW noted that BCH has completed its short-term pullback right at the 0.618 Fibonacci retracement level, which is a common support zone. If this holds, the next big target is the 1.618 Fibonacci extension at $662.
The technicals support this view. The MACD on the daily chart has flipped bullish, hinting at fresh upward momentum. The daily RSI stands at 63, which falls within a neutral to bullish range, leaving some room for further gains before the price appears overbought.
But it’s not all clear skies yet. The weekly RSI is at 53.3, and the MACD histogram is slightly negative (-1.57). That means if buying pressure slows, the Bitcoin Cash price could pause or consolidate before making its next move.
Simply put, BCH looks set for another push higher, but it’s also nearing levels where traders might lock in profits before a bigger breakout.
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