Key Points
- BCH gained 15% last week, recovering toward the $600 price level.
- The rally helped Bitcoin Cash overtake Chainlink and Hyperliquid in market capitalization rankings.
BCH Is Now the Eleventh-Largest Cryptocurrency by Market Cap
The cryptocurrency market started the new week with bullish momentum, as Bitcoin, Ether and XRP all traded in positive territory. Bitcoin is currently trading above $92,000, while Ether is approaching the $3,200 area.
Bitcoin Cash (BCH) was among the top performers within the top 20 cryptocurrencies by market capitalization. It added roughly 15% to its value over the past seven days, outpacing the broader crypto market.
The rally allowed BCH to reclaim the $600 level after weaker performance earlier this month. At the time of writing, BCH is quoted at $594 and could move higher in the short term. The upswing also enabled Bitcoin Cash to surpass Chainlink (LINK) and Hyperliquid (HYPE), making it the eleventh-largest cryptocurrency by market capitalization.
BCH Faces Resistance Above $650
The BCH/USD 4-hour chart shows a clear bullish structure, with Bitcoin Cash standing out as the best performer among the top 20 market-cap coins over the past week. The coin outperformed Bitcoin, Ether, XRP and several other major altcoins.
Momentum indicators favor the bulls, suggesting buyers currently control the market. The Relative Strength Index (RSI) sits at 59, above the neutral 50 mark, indicating a tilt toward bullish conditions. MACD lines moved into bullish territory last week as well, generating a buy signal for traders.
If the rally continues, BCH could advance toward the next major resistance near $650, a level not seen since earlier this year. The next key hurdle would be around $720, the coin’s 2024 high.
Conversely, if the recovery fails, Bitcoin Cash could retest the inducing liquidity (ILQ) zone near $550 in the coming hours or days.