2025-6-19 14:25 |
Bitcoin Cash price hovered above $470 on June 18, 2025, despite broader profit taking. BCH could break to December 2024 highs around $640. However, a lack of decisive moves above $500 could allow for further declines if bearish momentum accelerates.
Bitcoin Cash (BCH) is trading just below $470, marginally in the red for the day, while most major altcoins have seen sharper declines over the past 24 hours.
The token, which is a fork of Bitcoin (BTC), is down 0.3% at the time of writing, faring better than most of the top 10 cryptocurrencies by market cap, which are down between 1.5% and 3%.
The total market capitalization of all cryptocurrencies has declined 1.5% to $3.26 trillion, reflecting a broader pullback in risk assets across global markets.
Bitcoin Cash price dips amid crypto market weaknessDespite the profit-taking that has intensified as uncertainty looms with the geopolitical conflict in the Middle East, Bitcoin Cash shows notable resilience.
Macroeconomic pressures have also not helped investor sentiment, providing a potential downturn outlook for BCH and most altcoins.
The Bitcoin Cash price stood among the top gainers last week, rising to hit highs near $480.
It outpaced peers and Bitcoin’s more modest gains as it extended above $400.
However, the past 24 hours have seen BCH retreat from its multi-week highs, largely due to broader profit-taking across the market.
Similar trends have seen Bitcoin price pullback from highs above $108k to under $105k, driven by geopolitical tensions.
The recent military escalations between Israel and Iran have dampened investor confidence, contributing to market volatility.
While there are positive developments, such as the US Senate’s passage of the GENIUS Act, broader uncertainty persists.
Investors are thus largely cautious, a reflection seen in Bitcoin’s performance.
Indecision runs high, and BCH’s delicate poise above $400 may be retested again.
On the other hand, a flip could be huge for bulls.
BCH price predictionDespite recent losses, Bitcoin Cash exhibits resilience, with bulls defending the $400 support level within an ascending triangle pattern.
Often, such a pattern precedes bullish breakouts.
Also steady is the Open Interest (OI) in BCH futures. Per Coinglass, OI has risen 2.8% to $487 million to signal continued trader confidence.
Buyers may use the dip to position for a potential move.
BCH chart by TradingViewTechnical indicators bolster this optimism, with the Relative Strength Index (RSI) at 65 to suggest sustained bullish momentum.
Bitcoin Cash’s daily chart also has the Moving Average Convergence Divergence (MACD) showing a bullish crossover, suggesting buyers retain the upper hand.
Should BCH break above the key $500 resistance, the next target lies at the December 2024 highs of $640, potentially signaling a broader rally.
On the downside, strong support exists at $400, with $375 acting as a critical floor.
A breach below these levels could accelerate bearish pressure, particularly if Bitcoin falls below the psychological $100k level.
The post Bitcoin Cash price forecast: BCH steady despite profit taking appeared first on CoinJournal.
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