Bitcoin Cash Surges 8% as Technical Breakout Targets $638

Bitcoin Cash (BCH) has experienced a notable price increase, rising approximately 8% in the last 24 hours to trade around $534.45, according to market data. The asset is firmly supported at the $517.50 level and faces immediate resistance at $535.82, with technical analysis indicating a short-term target of $638 based on Fibonacci extension levels.

The price movement has successfully breached key Fibonacci retracement levels, including the $0.382, $0.5, and $0.618 areas, signaling strong upward momentum. The Relative Strength Index (RSI) is at 52.62 and trending upwards, reinforcing bullish sentiment among traders. Additionally, BCH's valuation against Bitcoin has increased by 3.3% to 0.006152 BTC, adding to the positive structure.

In contrast, the broader cryptocurrency market is down slightly by 0.73%, with Bitcoin (BTC) declining 0.97% to $86,635.96. BCH has outperformed BTC across multiple time frames, boasting an 18% year-to-date growth. The coin is also closing in on Cardano (ADA) in market capitalization, potentially challenging its position among the top 10 cryptocurrencies.

Despite the surge, trading volume for BCH has decreased by 26.01% to $313.02 million, which may hinder sustained momentum. If BCH can breach the $555 resistance level, it could aim for $600 in the longer term. Historical data from September 2025 shows BCH previously decoupled from market trends due to institutional demand, supporting the current optimistic outlook.