- The price of Bitcoin Cash (BCH) has bounced from $533 and regained bullish momentum above key support levels.
- Whales are driving the activity, while retail participation remains near multi-year lows.
- A breakthrough above $572 could open the path toward $600 and beyond.
Bitcoin Cash (BCH) has recovered from recent lows, renewing optimism that the cryptocurrency could test $600 in the near term.
After dropping to $533.34 on August 26, BCH climbed more than 3% in 24 hours. Analysts say this move likely confirms a short-term floor and signals that momentum may be shifting back to buyers.
Bounce restores confidence
The rapid recovery followed weeks of consolidation that had dampened enthusiasm around Bitcoin Cash.
The sharp rebound suggests buyers are stepping in again at key levels.
Technical indicators point to renewed strength, with a hidden bullish divergence on the daily RSI that indicates momentum building beneath the surface.
BCH continues to trade inside a bullish rising channel, although resistance near $572 remains a critical test.
Market analysts note that an hourly close above that barrier could confirm a breakout and potentially accelerate gains.
Whales step in as retail activity stalls
On-chain data shows whales were accumulating during the downturn, with whale transactions worth $482 million on August 7 — the largest peak since early July.
Large holders have often led rallies, and a similar surge in whale activity preceded a 75% rise in July.
Activity among smaller participants, however, remains muted.
Daily active BCH addresses hover near a six-year low at around 19,000, indicating weak organic adoption.
This divergence suggests speculation, rather than retail demand, is driving current moves.
A sustained influx of whale buying will be crucial to determine whether momentum can endure.
Key resistance and support levels in focus
Looking at the BCH price chart, the cryptocurrency needs to stay above $544.23 to maintain its upward bias.
Furthermore, a break above $569.77 could clear the way for $595.84 and even $638.56, with Fibonacci targets around $607 and $664 adding weight to the bullish case.
Sharky, a well-followed trader, believes BCH could mirror its June rally when it surged shortly after Bitcoin.
He highlights a 74-week retest of a trend break that, in his view, points to a strong long-term setup.
In June 23 $BCH Exploded right after $BTC I would not be surprised if becomes the protagonist again in coming weeks
74 Week trend break retest looks like something you may want to size long rn
— Sharky (@SharkyCT) August 26, 2025
AltWolf, another crypto analyst, warns of a potential double-top pattern and notes that Bitcoin Cash has lost the four-hour 200 EMA and broken below a multi-month uptrend channel.
He argues that it may be premature to stay bullish given the weakening structure.
$BCH Bulls Warning Double top is in
we have lost 4H 200EMA
Losing 4 months + Uptrend Channel
we are having Higher lows now , it will be better not to be Bullish anymore— AltWolf🐺 (@AltwolfCrypto) August 26, 2025
CoinLore analysts note that losing the $544.23 support could trigger a retreat to $527.41, with the risk of a deeper drop toward the July low of $516 — a move that would threaten the broader bullish channel.