Bitcoin Cash on the rise: +7.8% in 7 days, here are the possible price scenarios
Bitcoin Cash (BCH) registers a significant weekly growth, surpassing 453 dollars. But is the trend truly sustainable? A technical analysis reveals the bullish potential and the bearish risks.
Key points of the Bitcoin Cash analysis
- Current price of BCH: $453.52, up by +7.8% in 7 days
- Volumes increasing by +65% in the last 24 hours
- Market sentiment strongly positive: 77% bullish
- Key technical levels between $420 and $460
- Accumulation by whales on major Asian exchanges
Bitcoin Cash (BCH) is back in the spotlight with a significant weekly increase and an optimistic market sentiment. The current bull phase seems supported by a strong increase in volumes and encouraging on-chain data. But what are the real technical scenarios for the short-term future?
Summary of the technical analysis
- Current BCH price: $453.52
- Market cap: $9.01 billion
- Volume 24h: $514 million (+65%)
- Circulating supply: 19.88 million BCH
- Technical resistance: area $460
- Main support: $420 area
- Community sentiment: 77% bull according to CoinMarketCap
In the last seven days, Bitcoin Cash has achieved a +7.81%, surpassing the 450-dollar level with volumes significantly increasing. The 7-day chart shows a solid recovery after a brief corrective phase at the beginning of June, with a sequence of rising lows and highs.
According to on-chain data, the net buying pressure has increased by 77% in just 24 hours, particularly on exchange like Binance and OKX. This data suggests a strong interest from large investors (whale), often precursors of larger movements.
Bullish Scenario (Bullish)
If the buying pressure should continue, the levels to monitor for a possible extension of the rally are:
Target 1: $460
Level already tested on June 15. A breakout confirmed by above-average volumes could trigger new momentum.
Target 2: $480
Previous relative maximum at the beginning of May. An exceeding would mark a confirmation of the recovery of the long-term trend.
Target 3: $500
Psychological threshold and historical resistance. The consolidated breakthrough would open the scenario towards a broader extension of the bull run.
Indicators in favor:
- RSI (Relative Strength Index) close to 60, but still in neutral zone: room for further growth.
- Increase in institutional and retail demand.
- Price above 50-day moving average: positive signal.
Bearish Scenario
Despite the optimism, risks remain in the short term. The price could encounter strong resistance around the $460 area, leading to a corrective phase.
Support 1: $440
Local minimum of recent days, area of the first technical rebound.
Support 2: $420
Critical point. A break below this threshold could nullify the current bull trend.
Support 3: $400
Psychological level, often used as a reference by algorithmic traders. A breakdown would push BCH towards $380.
Risk factors:
- Prices close to resistance and possible exhaustion of momentum.
- Sudden drop in Asian demand.
- BTC in lateralization: possible dragging of the entire crypto sector.
Contextual analysis and future prospects
The macroeconomic context currently appears favorable to cryptocurrencies: stable US interest rates and expansive monetary policy in China are fueling global liquidity.
In this scenario, Bitcoin Cash benefits from its historical reputation as a “hard fork” of Bitcoin, offering faster and less costly transactions. However, the competition with other chains, such as Litecoin or Dash, and the absence of a strong narrative on the technological front could limit the upside in the long term.
An additional positive catalyst could arrive if BCH were integrated into new wallets, ATMs, or crypto-friendly payment circuits.
Bitcoin Cash shows convincing technical signals, with a bullish trend still intact and supported by robust on-chain data. However, testing the resistance at $460 will be crucial to confirm the breakout.
In the short term, the optimistic scenario remains predominant, but a phase of consolidation or correction is not ruled out if the necessary volume to support new highs is lacking.