Bitcoin Cash (BCH) Price Prediction: BCH/BTC Inverse Correlation Drives Notable Price Surge

Bitcoin Cash (BCH) has been making headlines recently with its notable price surge, largely driven by a shift in investor sentiment as Bitcoin (BTC) enters a consolidation phase.

After a period of close correlation, Bitcoin Cash (BCH) and Bitcoin (BTC) appear to be diverging in their price action, with BCH showing an inverse correlation to BTC.

As Bitcoin stalls in its price movement, oscillating between $93,589 and $95,490, Bitcoin Cash seems to have taken over the momentum, rising 5.9% in the past 24 hours.

This surge follows a period of consolidation for BCH, which reached lows of around $310 on April 7.

However, as Bitcoin’s momentum slows, analysts are examining the implications for BCH and its analysts.

Bitcoin, often viewed as the leader of the cryptocurrency market, has recently cooled off, struggling to break above key resistance levels.

In contrast, Bitcoin Cash has managed to capitalise on this slowdown, with a 5.9% gain in the past 24 hours alone, pushing its price up to $372.84 at press time.

This move follows a broader surge of 15.41% over the past eight days, during which BCH successfully broke through a descending trendline and retested it to confirm a sustained uptrend.

As BCH hovers around $372, it appears poised for a possible continuation of its rally, especially if it can close above the $397.50 mark on the daily chart.

If BCH manages to break this key resistance level, a 15.23% extension of its rally could be on the horizon, setting the next target at $450.

This price forecast is supported by positive technical indicators such as the Relative Strength Index (RSI), which currently reads 61, signalling bullish momentum and ample room before it enters the overbought region.

Moreover, the Moving Average Convergence Divergence (MACD) presents a bullish crossover, offering further buy signals for BCH.

In addition to the technical indicators, Bitcoin Cash’s strong price action is also supported by increasing network activity.

The Daily Active Addresses metric has reached a new all-time high of 4.13 million, indicating that demand for BCH’s blockchain is rising.

This spike in network usage is contributing to the bullish outlook for BCH, as higher adoption tends to correlate with price appreciation.

With the potential to reach new price highs, BCH’s outlook remains promising, particularly if the broader cryptocurrency market continues to recover from the fall after US President Donald Trump’s tariffs announcement at the beginning of April.