Bitcoin Cash Surges 10% — Is This Just the Beginning of a Bigger Rally?

Bitcoin Cash ($BCH ) has defied the broader market chill, surging over 10% and breaking through a major resistance level at $475. The rally, which saw BCH tap a local high of $505, marks a clear bullish breakout as the altcoin now holds above $480 and the 100-hour simple moving average (SMA). This move was accompanied by a clean break above a downward trend line near $472 on the hourly chart, giving bulls renewed control.

Currently, BCH is consolidating its gains above the 23.6% Fibonacci retracement level of the upward move from the $455 swing low to the $502 high. Momentum indicators remain positive, with the MACD still in bullish territory and the RSI holding above 60 — signaling that upward momentum still has room to grow. However, all eyes are now on the $500 level, a key psychological and technical barrier. A convincing break above $500 could unlock a fresh leg higher toward $520, and if bulls maintain pressure, the price could stretch toward the $535 resistance zone in the coming sessions.

On the flip side, traders should remain cautious if BCH fails to clear the $500 barrier. Immediate downside support lies at $490, followed by the $480 level, which coincides with the 50% Fibonacci retracement. A drop below $470 could stall bullish momentum and open the door for a retest of the $455 base.

In summary, BCH is showing clear signs of leadership among altcoins, even outpacing Bitcoin and Ethereum in the short term. With a breakout above $500, the stage may be set for a powerful continuation of the rally. But for now, traders should keep a close eye on how BCH reacts around this critical resistance zone — it may determine whether this is just a spike, or the start of something much bigger.

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