- Bitcoin Cash trades at $600 with a 7.35% daily gain and volume doubling to $830M in the past 24 hours.
- Analysts predict BCH could hit $1,509, signaling a possible 150% rally from the current price levels.
- The bullish MACD and RSI at 68 indicate the presence of strength and the ability of BCH to continue trading upwards.
As of press time, Bitcoin Cash (BCH) is trading at $600, with a minor 7.35% rise in the previous 24 hours. The trading volume for the same period is $830.07 million, which is up by 100.84%. Over the past seven days, the BCH price has gone up by 9.7%.
Source: CoinMarketCap
Bitcoin Cash (BCH) Bulls Eye $1,500+ Following Strong Breakout
Javon Marks highlighted that this breakout is just the start. He has targeted BCH at the figure of $1,509.89. That is almost a 150% increase from the present situation. Marks said that BCH is being driven toward that goal by this latest wave. He points out that the $600+ can serve as a starting point.
Source: X
SailorManCrypto mentioned that the 4-hour chart of BCH displayed a stable tendency since April. This upward trend was not even disturbed by the slightest weakness. He referred to it as the purest bull run in the crypto market. This indicates that BCH is having a lead in trend stability.
Source: X
BCH Open Interest Rises
CoinGlass data shows that volume has increased by 102.83% to $1.33 billion. The Open interest has grown by 17.14% currently standing at $687.25 million. The OI-weighted funding rate is 0.0110%. This indicates that traders are positioning themselves on the bullish side with minimal leverage risks.
Source: CoinGlass
Also Read: SPX6900 Price Surges to $2.04 – Is a 30% Rally to $2.6 Next?
BCH RSI Nears Overbought, Bullish Momentum Holds
The Relative Strength Index (RSI) stands at 68.18. This nearly reaches the stage of being overbought, though not yet. It indicates that BCH is not yet finished before facing resistance. The MACD is also positive. The MACD lies at 11.09 and the signal lies at 10.74. The histogram stands at 0.36 and it supports the bullish momentum.
Source: TradingView
The chart indicates a stable purchasing activity. Green candles are shown in the form of a staircase design. The volume increases with the price increase. Every dip is covered by buyers. That indicates a very bullish sentiment towards BCH in the short term. There has not yet been a sharp pullback.
If Bitcoin Cash remains above the $600 level, it can fluctuate toward the $700 price. This would establish that the bullish trend has been sustained. The trick is to stay on quantity and not sell off abruptly. The traders have been looking forward to the next leg up. The momentum is indicating further gains.
Bitcoin Cash is performing well on price, volume, and indicators. Investors anticipate even greater goals as long as the present trends remain unchanged. The level of $600 has become an important support level. The bullish foundation in this area can ignite the following wave of breakouts.
Also Read: Bitcoin Cash (BCH) Forecast 2025: Will Prices Surge Past $1,100?
