Bitcoin Cash (BCH) is making serious moves, soaring nearly 4% in the last 24 hours, reaching $498 with a 16.42% spike in trading volume, closing in on the psychologically significant $500 price tag after breaking above the resistance at $470.
Bitcoin Cash (BCH) is making serious moves, soaring nearly 4% in the last 24 hours, reaching $498 with a 16.42% spike in trading volume, closing in on the psychologically significant $500 price tag after breaking above the resistance at $470.
With a high of $505.32 today and a 7% gain over the past week, BCH is building strong momentum – outpacing Bitcoin in short-term performance as the world’s largest digital asset trades at $107K, not moving much in the past 24 hours, CoinMarketCap shows.
Bullish Signals are Forming for BCH
Further strengthening the bullish thesis, Santiment’s MVRV (Market Value to Realized Value) indicator on the weekly chart sits at 0.665, which is still well below the historical “profit-taking” threshold of 0.729.
In both March and May 2024, when the ratio approached 0.729, corrections followed – but with the current reading, BCH may still rally toward the December 2024 high, where MVRV spiked to 1.01.
Bitcoin Cash Chart Analysis: Bullish Triangle and RSI Confirm Momentum
The BCH 4-hour chart shows a bullish ascending triangle formation, with price pressing against a horizontal resistance near $500–$505. A clear breakout above the red zone could launch BCH toward $540, and possibly $580, based on the height of the triangle’s base projected upward.
However, if BCH gets rejected at this resistance, a short-term pullback to the $460–$445 support range (highlighted in green) is possible before another attempt at breakout – a classic “throwback” move seen in strong bullish trends.
Source: TradingView
The RSI stands at 56.66, signaling moderate bullish momentum without being overbought. This supports the idea of further gains, particularly if volume continues to rise. Meanwhile, the Balance of Power (BoP) indicator confirms bulls are still in control – no signs of a reversal just yet.
While BCH is outperforming Bitcoin (BTC) in the short term, overtaking Bitcoin in market cap remains a long shot – at least for now.
BCH Dominates Bitcoin, $BTCBULL Presale Generates Hype
While Bitcoin Cash outperforms BTC, BTC Bull Token ($BTCBULL) – an Ethereum-based meme coin positioned around the narrative of Bitcoin’s potential rise to $250,000 and beyond – has raised a whopping $7.4 million in its ongoing presale.
One of the core mechanics of BTC Bull is its milestone-triggered reward system. As the price of Bitcoin increases in $25,000 increments, the BTC Bull project plans to either conduct token burns – reducing circulating supply – or distribute Bitcoin airdrops to its holders.
Additionally, should Bitcoin reach the $250,000 mark, a larger airdrop is planned, distributing 10% of the total $BTCBULL supply to early supporters.
BTC Bull also includes a staking component during its presale phase with current rewards at 55% per annum. $BTCBULL can be purchased at a price tag of $0.00258, with 3 days, 23 hours until the next price increase.
Simply visit the official BTC Bull website and connect a supported wallet like Best Wallet, swapping crypto or using a card to complete the transaction.
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