- Bitcoin's cash price has been combined with horizontally over the past twelve months but a breakout has been in reach.
- The BCH community is preparing for a major network upgrade over the next two weeks.
Bitcoin Cash (BCH) has been among the best take in the last 24 hours in the top 20 crypto assets, excluding Bitcoin (BTC). The mid-cap Altcoin, with a fully melted appreciation of nearly $ 7.5 billion and a 24-hour average trading volume of nearly $ 236 million, gained 5 percent to trade nearly $ 382 on Friday, May 2, in the Mid-North American Session.
As a result, the BCH price has gained more than 22 percent in the last four weeks, which has signed a bullish emotion. Moreover, the broader Altcoin market recorded the bullish sentiment as BTC prices gained $ 92K as an important level of support.
The Bitcoin Cash Network Growth Factors
The Bitcoin cash network has grown significantly in recent years, strengthened by 345K on-chain holder and fixed supply. However, the Bitcoin cash network faces intense competition from new and sticky Layer One (L1) projects led by Solana (Sol) and Ethereum (ETH).
In a bid to ensure sustainable development and adoption, the Bitcoin Cash Network prepares for a major upgrade on May 15, 2025. The upcoming BCH network upgrading will introduce
Midterm targets for BCH price
Since April 2024, BCH prices have been combined between $ 273 and $ 641, without a clear breakout. After the rally failed above the 2018 all-time high during the 2021 crypto rally, the BCH was properly positioned to enter the price detection phase in the coming months.
In the sun -day timeframe, the BCH price continues to be closed above the main resistance trend lines and is now aimed at the next target of nearly $ 423. Moreover, the MacD -day -to -day line crosses above the zero line and the histogram continues to suggest a bullish sentiment.
Having a stop stop around $ 311 and target midterm of almost $ 707 is well positioned to pay well for traders merchants to the nearest future.
