Bitcoin Cash climbed sharply over the past day, gaining over 10% and trading near $586 after briefly touching $591. The surge is notable not for the size alone, but because it places BCH back into a price area that has repeatedly stalled rallies for months, this time with heavier trading activity and firmer follow-through from buyers.
Bitcoin Cash Price Reclaims Trendline Resistance
Multiple chartists point to a clear improvement in structure. Alpha Crypto Signal noted that $BCH “has cleanly broken above its descending trendline resistance,” marking a shift after weeks of compression.
The breakout carried the BCH price back above key moving averages, a development that confirms buyers have regained control and that prior downside pressure has been absorbed.
This change in structure turns the former downtrend from resistance into a reference support zone, with Alpha Crypto Signal highlighting $560–$570 as the area that must hold to keep the bullish setup intact.
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CryptoBoss, a crypto trader with over 170k followers on X, reinforced the broader picture by describing BCH as “one of the most bullish charts now,” pointing to a longer-term horizontal resistance band that price is actively pressing into.
On the higher-timeframe view, Bitcoin Cash price is consolidating just below that ceiling rather than rejecting sharply, suggesting sustained demand rather than a single impulsive spike.
Short-term order-flow context comes from CW, who identified a defined sell wall extending to $615. Based on his analysis, a strong move above that level could lead to a move to $640, while a failure to break it would keep BCH trading within its current range. This matches the intraday charts, which show the price repeatedly testing the upper boundary without clear rejection, a common pattern before a decisive move.
BCH Sees Heavy Volume and Whale Activity
The rally has been accompanied by a sharp rise in activity. Trading volume jumped more than 80% on the day, pushing Bitcoin Cash’s market cap above $11.7 billion.
Activity picked up further on 18 December after a wallet possibly linked to ShapeShift founder Erik Voorhees became active for the first time in about 9 years, swapping 4,619 ETH, worth roughly $13.42 million, into 24,950 BCH, according to Lookonchain.
The move lined up with a reported 122% increase in large BCH transactions, drawing attention to a clear rotation of capital into Bitcoin Cash. That shift has been central to recent Bitcoin Cash news, particularly as the price pushed back into key resistance.
Bitcoin Cash also activated Cashinals on 18 December, adding Bitcoin Ordinals-style on-chain inscriptions. The feature introduces a new source of block-space usage and miner fees, though adoption remains early.
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