Bitcoin Cash’s Month-Long Climb Defies Market Pullbacks: Could It Outperform Bitcoin?
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Bitcoin Cash (BCH) has demonstrated impressive resilience, rising nearly 11% over the past 30 days, despite the broader crypto market’s struggles with consolidation following Bitcoin’s all-time high at $ 111,000.
According to Bitcoin Cash Explorer, BCH’s transaction rate hit a new all-time high of 3.6 this Wednesday. This surge in on-chain activity signals increasing user engagement and liquidity on the BCH blockchain.
A higher transaction rate often correlates with growing adoption and utility, both of which are key long-term price drivers.
Bitcoin Cash Technical Analysis: Signs Point to Strength
On the 12-hour BCH/USDT chart, BCH broke out of a descending wedge pattern in March — a classic reversal formation.
The breakout was followed by steady upward price action, suggesting the move has strong momentum behind it.
The price is currently holding above an ascending trendline that has provided consistent support since early April. This suggests bullish structure remains intact unless price breaks below $390.
The RSI sits in neutral territory, slightly below 50, indicating that BCH is not overbought, leaving room for potential upward movement.
There’s no bearish divergence visible, and as long as RSI maintains above 40, momentum remains favorable.
BCH 12H Chart | Source: TradingView
Further, the MACD line is slightly below the signal line, and the histogram shows a shallow dip into negative territory. This suggests weak bullish momentum.
If the ascending trendline holds, BCH can test $430 – local highs from early May. The next target could be $470, which aligns with the upper horizontal resistance zone from the previous failed breakout in late February.
An extended target will be $510 – a clean break past this would mark a higher high and likely trigger fresh FOMO, setting sights on $600 by late June if momentum continues.
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