Bitcoin Cash (BCH) price surged nearly +50% from the $400–$420 accumulation zone, rewarding early-positioned bulls.

The $690 (T3) level marks BCH’s next hurdle; surpassing it may further validate the bullish trend.

Derivatives data shows cooling momentum: open interest dropped 3.11%, while trading volume slipped 30.38%.

Bitcoin Cash (BCH) has shown renewed bullish momentum, showing a price surge as it benefits from renewed confidence and growth across the broader crypto market. Now, the market has turned from a bearish to a bullish phase and started its recovery. If the breakout holds, the price may advance toward $690.

At the time of writing, BCH is trading at $553.94 with a 24-hour trading volume of $316.07 million and a market capitalization of $11.03 billion. The BCH price over the last 24 hours and over the last week is showing signs of stability.

Also Read: Bitcoin Cash Price Prediction: BCH Breaks $600 Eyesa 150% Price Explosion

BCH Rally Targets $690 After Breaking Wedge Pattern

A prominent crypto analyst, Rose Premium Signals, highlighted that Bitcoin Cash (BCH) has delivered a powerful move in line with technical expectations, rewarding early-positioned bulls. After the breakout of a wedge formation, the altcoin surged above resistance levels, confirming the bullish setup and yielding strong returns.

Last week, BCH hit its Target 2 (T2) at $608.3, a key milestone in this rally. Investors who entered at the $400–$420 accumulation zone now enjoy a gain of around +50%, a strong validation of the breakout strategy. Beyond verifying the accuracy of this wedge breakout, the rally also provided strong confidence in BCH’s near-term direction.

After crossing T2, attention has shifted swiftly towards the next major resistance. Investors and technicians are now gazing towards Target 3 (T3) at the $690.3 level, which should further cement BCH’s bullish direction if buying pressure remains strong.

A successful move towards this zone may pave the way towards further upswings, enabling continuation of the bullish cycle for the coin.

BCH Derivatives Show Mixed Signals as Volume Drop

Derivatives market data show mixed signals. Open interest fell 3.11% to $537.32 million as active positions fell with participants closing contracts. That was mirrored by a sharp drop in trading volume by 30.38% to $389.99 million as activity in the marketplace softened with participants easing up on recent volatility.

Additionally, the OI-weighted funding rate stayed at 0.0092%, which shows minimal bias between longs and shorts. Such neutrality would indicate consolidation within the marketplace as investors are waiting for a clear direction before injecting fresh money.

Also Read: Bitcoin Cash (BCH) Forecast 2025: Will Prices Surge Past $1,100?

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Filed under: Bitcoin - @ August 29, 2025 12:00 am