Bitcoin Cash Price Prediction as BCH Continues Outpacing BTC – Can It Overtake Bitcoin?
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Bitcoin Cash (BCH) is making serious moves, soaring nearly 4% in the last 24 hours, reaching $498 with a 16.42% spike in trading volume, closing in on the psychologically significant $500 price tag after breaking above the resistance at $470.
With a high of $505.32 today and a 7% gain over the past week, BCH is building strong momentum – outpacing Bitcoin in short-term performance as the world’s largest digital asset trades at $107K, not moving much in the past 24 hours, CoinMarketCap shows.
Bullish Signals are Forming for BCH
Further strengthening the bullish thesis, Santiment’s MVRV (Market Value to Realized Value) indicator on the weekly chart sits at 0.665, which is still well below the historical “profit-taking” threshold of 0.729.
In both March and May 2024, when the ratio approached 0.729, corrections followed – but with the current reading, BCH may still rally toward the December 2024 high, where MVRV spiked to 1.01.
Bitcoin Cash Chart Analysis: Bullish Triangle and RSI Confirm Momentum
The BCH 4-hour chart shows a bullish ascending triangle formation, with price pressing against a horizontal resistance near $500–$505. A clear breakout above the red zone could launch BCH toward $540, and possibly $580, based on the height of the triangle’s base projected upward.
However, if BCH gets rejected at this resistance, a short-term pullback to the $460–$445 support range (highlighted in green) is possible before another attempt at breakout – a classic “throwback” move seen in strong bullish trends.
The RSI stands at 56.66, signaling moderate bullish momentum without being overbought. This supports the idea of further gains, particularly if volume continues to rise. Meanwhile, the Balance of Power (BoP) indicator confirms bulls are still in control – no signs of a reversal just yet.
While BCH is outperforming Bitcoin (BTC) in the short term, overtaking Bitcoin in market cap remains a long shot – at least for now.
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