Key points
- BCH rose 15% last week, reclaiming the $600 price level in the process.
- The rally allowed Bitcoin Cash to surpass Chainlink and Hyperliquid in market capitalization rankings.
BCH is now the 11th largest crypto by market capitalization
The cryptocurrency market started the new week on a positive note, with Bitcoin, Ether and XRP all trading higher. Bitcoin is currently trading above $92,000, while Ether is approaching the $3,200 range.
Bitcoin Cash (BCH) has been one of the best performers among the top 20 cryptocurrencies by market cap. It gained 15% over the past seven days, outpacing the broader market and drawing renewed attention from traders and investors.
The recent rally pushed BCH back above the $600 level after a period of underperformance earlier in the month. At the time of writing, BCH trades around $594 and appears poised for further short-term upside. The price surge also enabled Bitcoin Cash to overtake Chainlink (LINK) and Hyperliquid (HYPE) in market capitalization, making it the 11th largest cryptocurrency by market cap.
BCH faces resistance above $650
The BCH/USD 4-hour chart shows a bullish bias as Bitcoin Cash has outperformed many large-cap cryptocurrencies over the past week. The coin has beaten Bitcoin, Ether, XRP and several major altcoins in recent price action.
Momentum indicators are signaling buyer control. The Relative Strength Index (RSI) sits at 59, above the neutral 50 level, indicating growing bullish conditions. The MACD lines moved into bullish territory last week, producing a fresh buy signal for traders.
If the rally continues, BCH could target the next major resistance around $650, a level not seen since earlier this year. Beyond that, the next notable resistance lies near $720, which marked its highest point in 2024.
However, if the recovery falters, Bitcoin Cash may retest the $550 Inducement Liquidity (ILQ) zone within the coming hours or days. Traders should watch price reaction around key support and resistance levels to assess the next directional move.