- Bitcoin Cash (BCH) is trading near $590, having topped $604 in the past 24 hours.
- At the time of writing, BCH is up about 1% over 24 hours and roughly 18% over the past 30 days.
- Bitcoin Cash has cleared an important resistance zone and could target the $1,000 level if momentum continues.
Bitcoin Cash (BCH) has not been the flashiest performer in the crypto market, and its 18% gain over the past month is modest compared with many peers inside the top 100 by market capitalization.
Still, while Ethereum approaches all-time highs and dominates headlines, BCH is trading around a key resistance area near the $600 level, testing whether buyers can sustain recent strength.
That push has been supported by a remarkable 30% surge in daily trading volume, suggesting renewed market interest. If buying pressure persists, BCH could set its sights on the $1,000 mark. But what does the technical outlook say?
Bitcoin Cash retests a key price zone
BCH is currently retesting a highly significant resistance zone, with the price hovering close to $600.
Over the past 24 hours, BCH reached $601 on major exchanges, demonstrating resilience by moving above $590 and approaching July’s high near $604.
The run toward $600 is notable because it allows buyers to probe a sell wall that previously favored bears. The roughly 30% increase in trading volume signals heightened market activity and suggests traders may be positioning for a potential breakout.
Where next for BCH price: can bulls reclaim $1,000 in 2025?
BCH last reached a high of $624 in December 2024, and the coin has not traded above $1,000 since 2021.
Technically, the outlook for Bitcoin Cash appears constructive. Bulls are attempting to flip the $600 zone into solid support, which would be a key step toward renewed upside toward the $1,000 level.
Short-term resistance sits near $680 and $764; clearing these levels would increase the probability of a sustained move higher. Broader market sentiment, as measured by the Fear & Greed Index, currently sits in the “Greed” zone, which could further fuel momentum.
Several technical indicators also align with a bullish trend for BCH. Stronger macroeconomic conditions and rising adoption could continue to support upward movement for this altcoin.
That said, profit-taking among major altcoins could weaken overall sentiment, so traders are likely to remain cautious. Upcoming inflation data could trigger sharp moves, as correlations between Bitcoin and equities remain significant.
“The correlation between BTC and equities has strengthened since mid-July, reflecting the rebound of US stocks toward record highs. Attention has now turned to Tuesday’s CPI, which is expected to rise by 10 basis points to 2.8%,” noted a QCP analyst. “A softer CPI could increase the odds of an Fed rate cut in September, while hotter prints could derail the rally. Traders are hedging demand for short-dated $BTC puts in the $115k–$118k range.”
Bitcoin itself is trading around $118,500, while BCH is changing hands near $590.