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Bitcoin Cash price is trading just above $600, with momentum building for a potential breakout. At press time, BCH changed hands at $601.86, up 0.49% on the day, extending a strong six-month run of more than 80% gains.
Market analysts now point to $635 as the key resistance level that could trigger the next leg higher, and with the price only 5.66% shy of that threshold, traders are closely watching whether Bitcoin Cash price can reclaim higher ground.
One of the most recent bullish catalysts is that Grayscale Investments filed for spot ETFs tracking BCH, HBAR, and LTC with the SEC on September 10. Bank of New York Mellon will manage the administration, while Coinbase will provide custody and prime brokerage services.
Exchange-traded fund (ETF) filings can boost access for traditional investors and show interest from institutions, as we’ve seen with Bitcoin and Ethereum ETFs.
While approval is not certain, Grayscale’s inclusion of Bitcoin Cash and payment-focused assets like Litecoin highlights its focus on promoting mainstream crypto use. Any positive changes in regulations could greatly increase demand.
Bitcoin Cash price is currently trading slightly above $600, but traders agree the real test lies ahead. As trader @CW8900 stressed, “$BCH rally will begin after break through $635.”
$BCH rally will begin after break through $635. pic.twitter.com/WxIhYY2xUS
That level now stands as the defining resistance zone, just 5.6% from current prices, and could determine whether the BCH price extends its multi-month uptrend or stalls out.
Charts back this view. BCH has carved out strong support between $590 and $600, with additional cushions at $577 and $535. The coin is trading comfortably above its 30-, 50-, and 200-day moving averages, with the 200-day baseline at $577 reinforcing the bullish structure.
The Elliott Waves Academy analysis offers another bullish scenario: after completing two corrective waves, Bitcoin Cash is nearing a major demand zone aligned with the 50–61.8% Fibonacci retracement of its last bullish leg.
#BitcoinCash 🇺🇸 Follow-up on the Expected Path for the Cryptocurrency on the 4-Hour Timeframe
🔻 A Decline Before a New Rally
After completing an impulsive upward wave, the pair entered a corrective phase that has already unfolded in two waves 📉, with only the third and final… pic.twitter.com/fv0QBsxxz7
If the projection holds, the next upward move could unfold through wave (3)/(C), marking the resumption of the broader uptrend.
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