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 cryptocurrency by market cap
The cryptocurrency market opened 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 $3,200.
Bitcoin Cash (BCH) has been among the top performers within the top 20 cryptocurrencies by market capitalization. It gained 15% over the past seven days, outperforming the broader crypto market.
That upward move allowed BCH to reclaim the $600 level after earlier underperformance this month. At the time of writing, BCH trades around $594 and could move higher in the short term. The rally also enabled Bitcoin Cash to overtake Chainlink (LINK) and Hyperliquid (HYPE) in market cap, making it the 11th-largest cryptocurrency by market valuation.
BCH faces resistance above $650
The BCH/USD 4-hour chart looks constructive as Bitcoin Cash has been the standout performer among the top 20 cryptocurrencies over the past week. The coin has outperformed Bitcoin, Ether, XRP and several other major altcoins.
Momentum indicators are bullish, suggesting buyers currently control the market. The Relative Strength Index sits at 59, above the neutral 50 threshold, indicating a bullish tilt in market conditions. MACD lines also moved into bullish territory last week, providing a buy signal for traders.
If the rally continues, BCH could target the next major resistance at $650, the highest level seen since the start of the year. Beyond that, the next significant resistance is near $720, the coin’s highest level in 2024.
However, if the recovery falters, Bitcoin Cash could retest the $550 Inducement Liquidity (ILQ) level within the coming hours or days.
Traders should monitor volume and momentum signals closely. A sustained increase in buying volume would support a breakout above $650, while weakening volume or bearish divergences on short-term indicators could signal a deeper correction back toward support zones. As always, market conditions can change rapidly, and risk management remains essential when trading volatile assets like BCH.