Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Bitcoin Cash (BCH) Hits Multi-Week Highs Riding Bitcoin’s Momentum

Bitcoin Cash (BCH) Hits Multi-Week Highs Riding Bitcoin’s Momentum

BeInCryptoBeInCrypto2025/06/17 01:00
By:Abiodun Oladokun

Bitcoin Cash (BCH) is maintaining bullish momentum. It is poised to break key resistance at $490 and potentially rally towards $556. If profit-taking occurs, BCH could see a dip to lower levels.

Bitcoin Cash leads the market today, emerging as the top gainer with a 3% increase in the past 24 hours. This marks a continuation of its multi-week rally, supported by growing investor interest.

With the altcoin currently trading above key resistance levels, Bitcoin Cash’s price is poised to extend its gains in the short term.

Bitcoin Cash Rides BTC Momentum

BCH’s rally over the past day coincides with BTC’s latest attempt to reclaim its all-time high of $111,968. On Monday, the king coin briefly traded above $108,000, reigniting bullish sentiment across the broader crypto market and lifting altcoins like BCH.

As of this writing, BCH trades at $476.28. The past 24-hour rally marks a continuation of its multi-week surge, highlighting how long the bulls have remained firmly in control of the market. Readings from the BCH/USD one-day chart show that the altcoin has been in a steady uptrend since April 7, consistently posting higher highs and higher lows, a textbook sign of sustained bullish momentum.

Currently, the altcoin trades above the Leading Spans A and B of its Ichimoku Cloud, reflecting the bullish sentiment among BCH holders. These lines form dynamic support levels below BCH’s price at $435.65 and $413.30, respectively.

Bitcoin Cash (BCH) Hits Multi-Week Highs Riding Bitcoin’s Momentum image 0BCH Ichimoku Cloud. Source: TradingView

The Ichimoku Cloud tracks the momentum of an asset’s market trends and identifies potential support/resistance levels. When an asset trades above it, the price is in a strong bullish trend. The area above the Cloud is a bullish zone, indicating that market sentiment toward BCH is positive.

Furthermore, BCH’s positive funding rate supports this bullish outlook. As of this writing, it is at 0.0006%, highlighting the preference for long positions among its futures market participants.

Bitcoin Cash (BCH) Hits Multi-Week Highs Riding Bitcoin’s Momentum image 1BCH Funding Rate. Source: Coinglass

The funding rate is a periodic payment between long and short traders in perpetual futures contracts. It keeps the contract price aligned with the spot price. When its value is positive, long traders pay short traders, indicating that bullish sentiment dominates the market.

BCH Eyes $490 Breakout

At its current price, the altcoin trades just below a key resistance level at $490.89. If demand rockets, BCH could break through this long-standing barrier and flip it into a support floor.  A successful breakout above this level could propel BCH toward $556.60, a price it last touched in December.

Bitcoin Cash (BCH) Hits Multi-Week Highs Riding Bitcoin’s Momentum image 2BCH Price Analysis. Source: TradingView

However, if profit-taking kicks in, this bullish outlook would be invalidated. In that scenario, the altcoin could retreat to $444.74. If that level fails to hold, Bitcoin Cash’s price may fall further to retest the dynamic support of the Ichimoku Cloud’s Leading Span A at $435.65.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!