Bitcoin Cash Eyes $650 as Bulls Tighten Grip Ahead of Christmas - Coinedict

Bitcoin Cash (BCH) is emerging as one of the strongest performers in the current crypto market, trading near $595 and showing resilience even during broader selloffs. With just a 12% move needed to reach the $650 resistance, analysts say BCH could test that level before Christmas if momentum holds.

Despite October’s sharp market-wide correction, BCH defended key support around $450 and has since climbed more than 20%, forming a series of higher lows. Technical indicators support the bullish case: BCH is trading above short-term moving averages, while the RSI sits in the mid-50s, signaling strengthening momentum without being overbought.

On the derivatives side, Binance top traders are expanding long positions, suggesting growing confidence among professional participants. Institutional interest is also adding tailwinds after Grayscale’s September filing to convert its Bitcoin Cash trust into an ETF, which could further legitimize BCH exposure for traditional investors if approved.

Near-term resistance sits around $615. A decisive daily close above that level could open the door to the $650–$652 zone, potentially lifting BCH into the top 10 cryptocurrencies by market cap. A rejection, however, may trigger a modest pullback toward the mid-$560s, which analysts view as healthy consolidation if support holds.

Overall, BCH’s combination of technical strength, trader positioning, and ETF-driven narrative has put it firmly on watchlists as the market heads into the holiday period.