BCH Price Surges to $500, Eyes $525 Breakout on Bullish Momentum

Bitcoin Cash has emerged as one of the top-performing cryptos today, rallying over 4.38% to $500.36. This price surge comes amid a strong bullish wave, which has pushed BCH’s market cap to $9.93 billion and daily trading volume up by 22.01% to $635.68 million. With technical indicators aligning and on-chain activity shifting, the trend appears to be favoring buyers in the short term. Curious enough? Join me, as I decode the possible short term Bitcoin Cash price targets in this analysis.On-Chain Data Gives Mixed Signals?The on-chain metrics present a mixed but an intriguing picture. According to Santiment data, the number of active addresses in the past 24 hours has seen a consistent uptick from June 19 to June 21. This signals increasing user participation and growing interest in the BCH network. However, this positive development is contrasted by a steep drop in transaction count, which plummeted dramatically on June 21.BINANCE:BCHUSDT OnChain" class="wp-image-475035" />This divergence may suggest that although more unique users are interacting with the network, the number of actual transactions per address has decreased. Which I believe could be possibly due to fewer transfers per wallet or larger-value transactions being consolidated. Such behavior can occur during accumulation phases, where users prepare for a move rather than engaging in frequent trades.Bitcoin Cash Price Analysis: Bitcoin Cash has broken out toward the upper band of an ascending channel, closing at $504.8 with a daily gain of 4.56%. The candlestick shows a strong buying wick from the $481.5 low, suggesting bulls are defending lower levels aggressively. Currently, BCH is trading above both the middle and upper bands of the Bollinger Bands, which is a sign of continued bullish pressure.The 20-day SMA sits at $453, which is well below the current price. If momentum continues, the next resistance lies at $525, the upper edge of the channel. On the downside, $478 acts as a crucial support, aligned with the previous consolidation zone and lower channel boundary.Keen on stacking some BCH? Read our Bitcoin Cash Price Prediction 2025, 2026-2030!FAQsWhy is Bitcoin Cash surging today? Bitcoin Cash is rallying due to increased market interest, higher volume, and bullish technical patterns. Is it a good time to buy BCH? With BCH trading near $504 and RSI nearing overbought, a breakout above $525 could confirm continuation. However, a drop to $478 could be on the cards. What is the price of Bitcoin Cash today? The price of 1 BCH token at the time of publication is $500.36, with an intraday gain of 4.38%.