Bitcoin Cash (BCH) is leading the market today, standing out with a rise of 3.4% in the past 24 hours, continuing a strong upward trend that has lasted for several weeks. The increasing interest from investors is the main driver behind this bounce back.
Currently, BCH is trading at 470 USD, above important resistance levels, indicating the possibility of further extending the rise in the short term. This is a sign that buyers are in control, and if this trend continues, BCH may surpass higher price levels in the near future.
Bitcoin Cash rises to the sky
In the past 24 hours, the strong breakout of BCH coincided with the strong price increase of Bitcoin, as the king of cryptocurrency continues its efforts to reclaim the all-time high of 111,968 USD. On Monday, Bitcoin temporarily surpassed the threshold of 108,000 USD, stimulating the return of optimistic sentiment in the cryptocurrency market, especially for altcoins like BCH.
As of now, BCH is trading at 470 USD. The increase in the last 24 hours marks a continuation of the upward trend that has lasted for several weeks, indicating that buyers are in control of the market and continue to push prices higher. The BCH/USD one-day price chart shows a stable upward trend for this altcoin since April 7, with higher highs and lower lows being established consecutively, a clear signal of a sustainable price increase.
Currently, BCH is trading above both Leading Spans A and B of the Ichimoku Cloud, a prominent technical indicator. This reflects the optimistic sentiment of BCH investors. These lines form dynamic support levels below the price of BCH, which are 435.65 USD and 413.3 USD respectively, supporting the rising trend of this coin.
! BCH's Ichimoku Cloud | Source: TradingViewThe Ichimoku cloud is a powerful technical analysis tool that tracks the momentum of market trends and identifies potential support/resistance levels. When an asset trades above these levels, it means that the price is in a strong uptrend. The area above the Cloud is considered a bullish zone, reflecting optimistic and positive market sentiment for that asset. For BCH, trading on the Ichimoku Cloud shows that the market is maintaining a positive attitude, supporting the coin's sustained growth momentum.
In addition, the positive funding rate of BCH ( is currently 0.0006%), further reinforcing the bullish outlook for this altcoin. The funding rate is a periodic payment between Long and Short traders in perpetual futures contracts, helping to maintain the correlation between the contract price and the spot price. When the funding rate is positive, it means that Long traders are paying the Short side, indicating that bullish sentiment is prevailing in the market.
With this positive funding rate, investors are favoring long positions, expressing the expectation that the price of BCH will continue to rise sharply in the near future, and the fact that the futures market tends to "turn" towards long positions shows persistent optimism in the BCH investment community.
Funding rate of BCH | Source: Coinglass## BCH aims for a breakout level of $490
Currently, Bitcoin Cash is trading below the important resistance level of 490.89 USD. If market demand continues to rise to the sky, BCH could easily break through this level and turn it into a new support level, creating opportunities for a strong breakout. A successful breakout above this price level could drive BCH up to 556.6 USD, the price that this coin reached last December, opening up opportunities for sustainable growth for this currency.
However, if a sudden profit-taking event occurs, this bullish outlook will be threatened. In this case, BCH could drop to a level of 444.74 USD, which may serve as a temporary support level. If this price level does not hold, the coin may continue to decline further to retest the dynamic support of Leading Span A in the Ichimoku Cloud, at a level of 435.65 USD.
BCH price chart 1 day | Source: TradingViewTherefore, investors need to closely monitor these important price levels to make reasonable trading decisions and avoid risks when the market fluctuates strongly.
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BCH reaches a multi-week high: Next is the breakthrough $490?
Bitcoin Cash (BCH) is leading the market today, standing out with a rise of 3.4% in the past 24 hours, continuing a strong upward trend that has lasted for several weeks. The increasing interest from investors is the main driver behind this bounce back.
Currently, BCH is trading at 470 USD, above important resistance levels, indicating the possibility of further extending the rise in the short term. This is a sign that buyers are in control, and if this trend continues, BCH may surpass higher price levels in the near future.
Bitcoin Cash rises to the sky
In the past 24 hours, the strong breakout of BCH coincided with the strong price increase of Bitcoin, as the king of cryptocurrency continues its efforts to reclaim the all-time high of 111,968 USD. On Monday, Bitcoin temporarily surpassed the threshold of 108,000 USD, stimulating the return of optimistic sentiment in the cryptocurrency market, especially for altcoins like BCH.
As of now, BCH is trading at 470 USD. The increase in the last 24 hours marks a continuation of the upward trend that has lasted for several weeks, indicating that buyers are in control of the market and continue to push prices higher. The BCH/USD one-day price chart shows a stable upward trend for this altcoin since April 7, with higher highs and lower lows being established consecutively, a clear signal of a sustainable price increase.
Currently, BCH is trading above both Leading Spans A and B of the Ichimoku Cloud, a prominent technical indicator. This reflects the optimistic sentiment of BCH investors. These lines form dynamic support levels below the price of BCH, which are 435.65 USD and 413.3 USD respectively, supporting the rising trend of this coin.
! BCH's Ichimoku Cloud | Source: TradingViewThe Ichimoku cloud is a powerful technical analysis tool that tracks the momentum of market trends and identifies potential support/resistance levels. When an asset trades above these levels, it means that the price is in a strong uptrend. The area above the Cloud is considered a bullish zone, reflecting optimistic and positive market sentiment for that asset. For BCH, trading on the Ichimoku Cloud shows that the market is maintaining a positive attitude, supporting the coin's sustained growth momentum.
In addition, the positive funding rate of BCH ( is currently 0.0006%), further reinforcing the bullish outlook for this altcoin. The funding rate is a periodic payment between Long and Short traders in perpetual futures contracts, helping to maintain the correlation between the contract price and the spot price. When the funding rate is positive, it means that Long traders are paying the Short side, indicating that bullish sentiment is prevailing in the market.
With this positive funding rate, investors are favoring long positions, expressing the expectation that the price of BCH will continue to rise sharply in the near future, and the fact that the futures market tends to "turn" towards long positions shows persistent optimism in the BCH investment community.
Currently, Bitcoin Cash is trading below the important resistance level of 490.89 USD. If market demand continues to rise to the sky, BCH could easily break through this level and turn it into a new support level, creating opportunities for a strong breakout. A successful breakout above this price level could drive BCH up to 556.6 USD, the price that this coin reached last December, opening up opportunities for sustainable growth for this currency.
However, if a sudden profit-taking event occurs, this bullish outlook will be threatened. In this case, BCH could drop to a level of 444.74 USD, which may serve as a temporary support level. If this price level does not hold, the coin may continue to decline further to retest the dynamic support of Leading Span A in the Ichimoku Cloud, at a level of 435.65 USD.
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