CandleFocus

Bitcoin Cash hits two-month high as analysts predict a 2017-style rally

Author: Content Editor
Bitcoin Cash (BCH) has recovered from a recent dip and has surged by 47% over the past three days, reaching a two-month high of $392.8. Analysts are drawing parallels to BCH's explosive rally in late 2017, with some predicting a "cup and handle" pattern forming on BCH's chart that could push the price to $4,100 by May 2025. Other analysts have even more bullish projections, with one predicting a potential 1,035% leap to $4,545. Transactions on the Bitcoin Cash blockchain are at an all-time high, indicating growing trader interest and increased liquidity. Futures open interest is also rising, suggesting new money is flowing in. The technical indicators support a bullish narrative, with a key support zone holding and the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) signaling strong momentum. If Bitcoin Cash can hold its current trading range, analysts believe a 14.37% rally toward the next resistance level at around $450 could occur. It remains to be seen if Bitcoin Cash will repeat its 2017 glory or forge a new path in the coming weeks.

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