Bitcoin Cash price is showing renewed bullish momentum after an hourly golden cross and a 40.65% jump in volume; BCH trades near $560 and could test $600 if $567 support holds and RSI remains above 50, with $604–$607 the first clear upside targets.
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Golden cross confirmed on hourly chart — bullish momentum for BCH
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Volume surged 40.65% to $449.91M, supporting a short-term breakout attempt
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Market cap: BCH at $11.26B vs SHIB at $7.19B — BCH now ranked 15th
Bitcoin Cash price bulls target $600 after an hourly golden cross; monitor $567 support and $604–$607 resistance for potential breakout — read the latest market data.
What is driving the Bitcoin Cash price rally?
Bitcoin Cash price is rising on a confirmed hourly golden cross, higher trading volume and supportive momentum indicators. The hourly 9-period moving average crossed above the 26-period moving average while volume jumped 40.65%, pushing BCH toward short-term resistance near $600.
How significant is the golden cross for BCH?
The golden cross on the hourly chart signals short-term bullish momentum. With an RSI around 59 and a 40.65% increase in volume to $449.91 million, technical conditions favor continuation toward $604–$607. Traders should watch $567.78 as immediate support; a failure below $540 could invalidate the breakout thesis.
Bitcoin Cash (BCH) has been on a bullish ride in the last 30 days as the asset looks to retest the $600 price level. The asset’s technical indicators suggest that BCH could rally toward this target as a golden cross has been confirmed on the hourly chart.
Golden cross signals bullish momentum for BCH
According to data, the golden crossover occurred as Bitcoin Cash’s nine-day moving average surged above the 26-day moving average. This notable technical event signals bullish momentum for the asset, particularly as it comes with a spike in volume.
The chart indicates BCH’s price could find stability at $567.78, riding on this wave of bullish sentiments.
In the last 24 hours, Bitcoin Cash climbed from a low of $535.38 to an intraday high of $572.53. As of this writing, BCH is trading at $560.46, representing a 2.66% increase within the time frame.
There has also been a massive uptick in investor interest as trading volume soared by 40.65% to $449.91 million. This suggests that market participants remain bullish and anticipate further price increases. How high the asset’s price could climb remains of interest to investors.
If the technical breakout signals hold amid the RSI reading of 59, Bitcoin Cash might ride the wave to flip $600 and land between $604 and $607. However, failure to sustain the momentum might see the price crash to $540.
Why has Bitcoin Cash widened its market cap lead over SHIB?
Worthy of mention is that Bitcoin Cash has recorded significant growth in the past 40 days. BCH’s improved price performance and volume have increased its market capitalization relative to peer tokens.
Earlier in July, Shiba Inu (SHIB) was in a market rivalry with BCH in terms of market capitalization. As of then, Bitcoin Cash was ranked 17th-largest crypto asset by market cap with $10.34 billion while SHIB was 18th with $8.93 billion.
Currently, BCH is ranked 15th with a market cap of $11.26 billion, creating a wide margin away from SHIB, which sits at the 23rd position valued at $7.19 billion.
Market cap comparison
| Asset | Rank | Market Cap (USD) |
|---|---|---|
| Bitcoin Cash (BCH) | 15 | $11.26 billion |
| Shiba Inu (SHIB) | 23 | $7.19 billion |
Frequently Asked Questions
What are the key support and resistance levels for Bitcoin Cash?
Immediate support sits at $567.78; stronger downside risk begins near $540. Upside targets are $600, with $604–$607 acting as the next resistance band if momentum continues.
How does volume affect BCH’s breakout probability?
A 40.65% rise in trading volume to $449.91M increases breakout conviction. Higher volume during a golden cross suggests buyers are validating the move, improving the odds of a sustained push higher.
When should traders be cautious?
Traders should be cautious if RSI drops below 50 or if price closes decisively under $567. A failure to hold that level could trigger a rapid move toward $540 or lower.
Key Takeaways
- Golden cross confirmed: Hourly 9-period MA crossed above the 26-period MA, signaling short-term bullishness.
- Volume supports move: Trading volume rose 40.65% to $449.91M, reinforcing the breakout attempt.
- Watch levels: $567 support, $600 psychological target, $604–$607 next resistance; downside risk at $540.
Conclusion
Bitcoin Cash price is exhibiting clear short-term strength on the back of a confirmed hourly golden cross and elevated trading volume. Market cap gains have placed BCH ahead of SHIB, underscoring renewed investor interest. Monitor $567 support and RSI momentum for confirmation before taking directional positions; COINOTAG will publish updates as conditions evolve.
