Key Notes
- Network activity surged with over 10,000 new funded addresses created in seven days, indicating growing adoption.
- Technical analysis reveals a double Golden Cross pattern with moving averages suggesting potential rebound momentum.
- Critical support level at $460 (200-day MA) could trigger rally toward $500-525 resistance if maintained.
Bitcoin Cash BTC $107 660 24h volatility: 1.4% Market cap: $2.14 T Vol. 24h: $22.67 B price held steady near $488 on July 4 despite steeper downturns in the broader altcoin market. With BCH supported by growing network demand and technical strength, can bulls regroup for a $500 rebound?
BCH Outperforms Altcoins with Only 1.63% Loss Amid Market Selloff
Bitcoin Cash showed resilience in Friday’s trading session, closing the day just 1.63% down at $488. In comparison, rival altcoins like Cardano ADA $0.57 24h volatility: 3.0% Market cap: $20.66 B Vol. 24h: $523.13 M , SUI $2.87 24h volatility: 3.7% Market cap: $9.91 B Vol. 24h: $824.71 M , and Hyperliquid HYPE $38.02 24h volatility: 5.1% Market cap: $12.70 B Vol. 24h: $189.03 M saw steeper losses between 4.7% to 5.3%.
On-chain analytics suggest that BCH’s relative stability on Friday could be linked to a recent surge in network activity.
IntoTheBlock’ chart below show that over 10,000 new BCH-funded addresses were created in the past seven days.
Bitcoin Cash Total Funded Addresses | Source: IntoTheBlock
That surge in Bitcoin Cash network participation comes amid broader risk-off sentiment in the broader altcoin market and corresponds with resilience in Bitcoin price, which also consolidated above $107,000 with a 1.5% dip. This reinforces the narrative that BTC $107 660 24h volatility: 1.4% Market cap: $2.14 T Vol. 24h: $22.67 B and BCH are emerging as a hedge against current bearish market catalysts.
The uptick in funded addresses reflects underlying strength that could support a price rebound, especially if short-term sentiment in BTC remains upbeat into the weekend.
BCH Eyes $500-525 Resistance as Golden Cross Pattern Emerges
Technical signals on the BCH/USD daily price chart shows a double Golden Cross formation,where both the 50-day and 100-day moving averages cross above the 200-day MA.
This pattern is generally interpreted as potential inflection points for a potential rebound in the coming sessions.
Bitcoin Cash Price Forecast | Source: TradingView
At press time, the 200-day moving average sits at $460, and the price action indicates BCH could bounce from this level if tested again. It has already served as a buffer through late June and early July pullbacks. If this key support holds, bulls could set sights on a gradual momentum build toward the $500 and $525 resistance levels.
The RSI (Relative Strength Index) hovers at 56, slightly below the overbought zone, suggesting room for upside without imminent correction risk. This aligns with network growth metrics, which have historically triggered short-term price rebounds.
Still, if price slips below the $460 zone, a secondary support emerges around the 100-day MA near $402, which aligns with mid-June consolidation levels. Bears must close below that zone to invalidate the BCH price rebound forecast.
