Bitcoin Cash (BCH) has rallied by 8% amid heightened whale transactions and a crucial technical test, with analysts identifying a decisive resistance level at $565 that could determine its near-term trajectory.
The surge coincides with BCH retesting a key descending trendline historically associated with over 50% price corrections. Concurrently, whale activity has intensified dramatically, with transaction volume spiking nearly 98% to 1.69 million BCH—the largest accumulation since mid-2024, signaling substantial institutional interest.
Technical indicators suggest further upside potential, as BCH’s weekly Relative Strength Index (RSI) registers at 64, remaining below overbought territory. Market observers note that a confirmed daily close above the $565 resistance could catalyze a bullish breakout, potentially propelling gains of 15-30%.
However, exchange inflows totaling $4.65 million within 24 hours reflect emerging profit-taking behavior among holders, introducing caution amid the rally. This dynamic underscores the critical importance of the $565 threshold for sustaining BCH’s renewed momentum.