Bitcoin Cash’s (BCH) price has entered overdrive. After weeks of steady gains, the bulls are charging toward a key level that could decide whether this rally has more fuel left. At press time, BCH was hovering around $563.43, representing a 17.07% price increase over the last seven days. As a result, Bitcoin Cash has regained its position as a top-15 cryptocurrency. But if this rally continues, will it break into the top 10 and reach a multi-year high? Bitcoin Cash Extends Winning Streak On the 4-hour chart, BCH’s price has maintained its position above the descending trendline resistance. This confirms a bullish breakout from the previous downtrend. The green line of the Supertrend indicator sits below the price, supporting this move.
The position reinforces a buy signal, suggesting continued momentum for the cryptocurrency. Additionally, the Money Flow Index (MFI) has recorded higher readings, indicating buying pressure. With this setup, Bitcoin Cash appears well-positioned to breach the overhead resistance at $600. If successful, this could potentially set the stage for further gains.
On-Chain Data Counters Fears However, there are growing concerns that Bitcoin Cash (BCH) may be approaching its cycle top. Still, on-chain data from Santiment suggests this might not be the case. Based on CCN’s analysis using the Market Value to Realized Value (MVRV) ratio, BCH currently sits at 78.01%. This level is still well below historical cycle peaks. For context, the MVRV ratio reached 113% in December, while during the 2017 bull run, it surged to 617.11% before the market topped. In 2021, it peaked at around 300.36%. Although the MVRV ratio tends to halve with each four-year cycle, the current reading suggests that BCH still has room to grow before reaching a historical exhaustion point.
Whether it will revisit or surpass previous peaks remains uncertain — only time will tell. However, some market participants have begun setting ambitious price targets. On X, one trader projected that the Bitcoin Cash price could rise to $950. In a more optimistic scenario, he noted that it could reach as high as $1,950. BCH Price Analysis On the daily chart, Bitcoin Cash’s price has broken above the upper boundary of a falling trendline. This signals a potential trend reversal after a prolonged consolidation phase. At the same time, the Moving Average Convergence Divergence (MACD) has formed a bullish crossover, reinforcing the possibility of continued upside momentum.
If this setup holds, BCH could breach resistance at $591.76, paving the way for a move towards $650. Should buying pressure intensify, the altcoin might extend its rally to $820, marking a strong continuation of the current breakout.
However, if demand weakens, this outlook could shift quickly. In that case, BCH’s price may retrace toward $481.41, where it could find temporary support before attempting another rebound.