BCH Rallies 5% as Technical Charts Signal Golden Cross Against BTC

Bitcoin Cash Jumps Over 5%, Hits Six-Month High as BCH/BTC Flashes Golden Cross Signal

Bitcoin Cash (BCH) surged more than 5% in the past day, bucking the trend of a largely stagnant crypto market and outperforming Bitcoin’s flat price movement. The price rally pushed BCH to levels last seen in December 2024, fueled by rising trading volumes and a burst of bullish momentum on the charts.

BCH rose from $491.25 to a high of $528 before easing to around $516, based on CoinDesk data. Trading volumes spiked dramatically, with over 120,000 BCH traded within one hour—nearly triple the typical daily average—indicating heightened market interest and activity.

However, on-chain indicators remain cautious. CoinDesk’s AI analysis noted that network activity on Bitcoin Cash has recently dropped significantly, with daily active addresses plunging to a six-year low. This suggests that the price gains could be driven more by short-term speculative trading than by growing network adoption or fundamental demand.

Highlights from AI Market Data:

Between June 30 at 13:00 and July 1 at 12:00 UTC, BCH rose 5.8%, climbing from $491.25 to $519.65.
The price range during this period spanned $37.80 (7.7%), with a high of $527.37 recorded at 03:00 UTC on July 1.
Resistance was seen around $527, while support held steady between $519–$520, signaling continued bullish sentiment.
A significant volume spike occurred at 01:00 UTC when over 120,000 BCH changed hands.
In the last trading hour (11:30–12:29 UTC on July 1), BCH first gained 0.55% before slipping 0.71%, finishing at $518.85.

Golden Cross Signals Potential Upside in BCH/BTC Pair

Notably, the BCH/BTC trading pair has surged nearly 20% over the past month, hitting a six-month high at 0.0049. This rally has led to the formation of a bullish golden cross, where the 50-day simple moving average (SMA) crosses above the 200-day SMA.

This technical pattern is widely viewed as a sign of shifting momentum and potential long-term upside. If the trend continues, it could signal a broader reversal in favor of Bitcoin Cash, possibly setting up a multi-week or multi-month rally relative to Bitcoin.