Bitcoin Cash Surges 6% to $525.18 Amid Bullish Chart Signals

Bitcoin Cash (BCH) has seen a significant price surge, currently trading around $525.18, marking a 6% increase. This upward trend is notable as many meme coins and smaller altcoins struggle to maintain gains. The rise in BCH's price is attributed to a combination of strong chart signals, renewed community interest, and increasing open interest.

Analyst Crypto Patel highlighted a massive bull flag pattern forming on the weekly chart, which has been developing for months. This pattern indicates a downward-sloping consolidation following BCH's breakout from around $90 to $1,300 in early 2023. Traders often view this setup as a continuation pattern that could lead to substantial upside movements. Patel identified the key zone to watch as $550 to $580. If BCH can push through and hold above this range, it could trigger a full breakout. Patel's longer-term targets include a rally toward $1,800 and potentially even $4,000, provided the price clears the $640 level with strength.

Community sentiment around Bitcoin Cash appears to be improving, with multiple analysts and community figures expressing optimism. Trader SⱯMX noted that BCH has outperformed all meme coins over the past 24 hours, citing a break of a “7.5-year resistance” on the chart. Despite this move, market attention remains low until larger breakouts or new all-time highs occur. Blockchain specialist Spade observed that open interest for BCH is approaching all-time highs, crediting the Bitcoin Cash community for consistent engagement over the past year. Increased network participation and the initiative dubbed “Bitcoin Cash Bank Run Day,” where more holders move tokens off exchanges on the 1st and 15th of each month, also contribute to the current momentum.

Traders are closely monitoring the $550–$580 zone as the immediate resistance barrier. A rejection at this range could return the BCH price to the lower channel area near $250–$210, which has acted as an accumulation zone. On the upside, confirmation above $640 would support the case for a longer-term breakout. Volume and volatility near these levels will be crucial in determining the next move. Bitcoin Cash remains on the radar as the market awaits confirmation of whether this momentum can turn into a full breakout.