- Bitcoin cash price has consolidated horizontally in the past twelve months, but an escape is on the horizon.
- The BCH community is preparing to upgrade the network in the next two weeks.
Bitcoin Cash (BCH) has been among the best winners in the last 24 hours among the 20 best cryptographic assets, excluding Bitcoin (BTC). Altcoin in mid-cap, with an entirely diluted assessment of around $ 7.5 billion and an average negotiation volume of around 24 hours of approximately 236 million dollars, won 5% to discuss around $ 382 on Friday May 2, during the American middle session.
As a result, BCH Price has won more than 22% in the past four weeks, reporting a bullish feeling. In addition, the wider Altcoin market recorded a bullish feeling while the BTC price has found $ 92,000 as a crucial level of support.
Bitcoin cash network factors
The Bitcoin Cash network has increased considerably in recent years, reinforced by its 345K chain holders and its fixed diet. However, the Bitcoin liquidity network has been faced with intense competition from layer 1 flashy and flashy (L1) projects led by Solana (Sol) and Ethereum (ETH).
In order to ensure sustainable development and adoption, Bitcoin Cash Network is preparing for a major upgrade on May 15, 2025. Up to the upcoming BCH network will introduce the advanced features of intelligent contracts through the limits of targeted virtual machine
Mid-term targets for the BCH price
Since April 2024, BCH’s price has consolidated between $ 273 and $ 641, without a clear break. After failing to rally over the summit of all time 2018 during the 2021 cryptography rally, BCH is well placed to enter its price discovery phase in the coming months.
Within the daily time, BCH’s price has constantly ended above the main resistance trend lines and now aims at the next goal of around $ 423. In addition, the MacD daily line has already crossed the zero line and the histogram continues to suggest a bullish feeling.
Having a loss of stopping of around $ 311 and a halfway target of around $ 707 is well positioned to pay well for leverage traders in the nearest future.
