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Bitcoin Cash tests $600 resistance for the first time in 2025, with bulls eyeing $650, $680, and $1,000.
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Technical indicators and rising trading volume signal strong breakout potential.
Bitcoin Cash (BCH) continues to consolidate just below a critical resistance level, with the cryptocurrency trading at $598 at the time of writing. The altcoin has posted a 1.08% gain in the past 24 hours and is up 4.4% over the past week, supported by a 24-hour trading volume of $595.5 million. This is a 5.51% jump in the trading volume over the same period.
After steadily climbing over the past week, Bitcoin Cash now finds itself pressing against a crucial technical ceiling. The $600 mark has been crucial in recent months, with multiple breakout attempts falling short. This time, however, bullish sentiment appears stronger. Technical indicators point to a possible $650, $680, and even $1,000.
BCH’s market capitalization currently stands at $11.82 billion, ranking it 15th.
Related: Bitcoin Cash Momentum Builds: BCH Rallies as Open Interest & Transactions Rise
Bitcoin Cash Hits $600 for the first time This Year
Bitcoin Cash’s latest push has brought it hit $600 mark for the first time since December 2024, a key resistance zone that has repeatedly capped upside moves within the last month. The coin already touched highs above $604 briefly earlier today.
As we reported earlier, BCH has been seeing a massive rally this year, and in the last 6 months, the coin has maintained a 75% Rally.
Technical analysis shows BCH trading in an ascending parallel channel since April, following a breakout from a 7-year symmetrical triangle in July, according to CNN. The pattern suggests long-term bullish potential, with analysts pointing to $1,500 as a possible target if momentum accelerates.
On the daily chart, the Relative Strength Index (RSI) remains in bullish territory and has consistently formed hidden bullish divergences. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator supports the case for further upside.
Bitcoin Cash Short-Term Targets of $650, $680, and $1000
If bulls succeed in closing decisively above $600, the next near-term targets sit at $650 and $680, followed by a heavier supply zone near $765. A breakout above these levels could open a more certain possibility for a $1,000 target, which was last seen in 2021.
Trading volume has surged by roughly 30% compared to last week. The General market is also positive with Bitcoin hovering near $118,500 and the Crypto Fear & Greed Index in “Greed” territory.
The upcoming U.S. Consumer Price Index (CPI) report is expected to show a slight uptick to 2.8%, and a softer reading could strengthen the case for a September Federal Reserve rate cut. Conversely, a hotter-than-expected print could trigger risk-off moves across crypto and equity markets.
