Bitcoin Cash (BCH) is showing strong signs of recovery after a significant breakout. Since April 16, the cryptocurrency has gained momentum by breaking and retesting a descending trendline. In just over a week, BCH rose 15.41%. Despite a minor weekend dip, it jumped another 5.38% on Monday and now trades around $368 as of Tuesday. This upward trend has sparked new interest in Bitcoin Cash price prediction.
Strong technical indicators support bullish momentum
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The RSI (Relative Strength Index) stands at 61, above the neutral level of 50, indicating ongoing buying pressure.
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The MACD has formed a bullish crossover, often seen as a signal for continued upward movement.
If BCH closes above the $390.5 resistance level on a daily timeframe, it could climb another 17%, reaching the next major resistance at $459.20.
On-chain activity signals rising interest
One key indicator supporting this bullish case is network activity. Santiment reports that Daily Active Addresses on the BCH network surged to a record high of 4.13 million. This rise suggests increasing demand for the blockchain, which often drives prices higher.
Also Read: BitTorrent Price Prediction 2025, 2026 – 2030
Long-term outlook and potential risks
Analysts believe BCH could reach $701 in 2025, especially if Bitcoin nears its projected $100,000 mark. However, a few challenges remain:
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Whale capital is shifting to altcoins like Litecoin due to ETF-related speculation.
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Negative funding rates and a descending triangle pattern present technical risks if BCH falls below key support levels ($255–$222).
Sentiment on social platform X remains divided. Some users are optimistic, predicting BCH could hit $3,500 in a bull run, while others remain cautious due to market volatility.
In summary, Bitcoin Cash has a promising short-term outlook, but traders should watch key resistance and support levels closely
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