Momentum could see BCH eye key resistance levels and potentially the psychological $1,000 mark.
Bitcoin Cash (BCH) has surged by more than 6% in the past 24 hours to hit highs of $646, a year-to-date high that could see bulls target another leg to $1,000.
As bullish momentum builds in the cryptocurrency market, with eyes on broader market movement after the Federal Reserve cut its interest rate by 25 basis points, Bitcoin Cash is poised.
Bitcoin and altcoins showed resilience after the Federal Reserve’s decision to implement a 25 basis point interest rate cut on September 17, 2025.
While BTC and top alts did not skyrocket, the 25bps rate cut provided some tailwind for risk assets, including cryptocurrencies.
That’s because the Fed’s first cut of 2025 signals a shift toward more accommodative monetary policy, with eyes on inflation and labor market conditions.
Bitcoin Cash is among the cryptocurrencies to experience a surge in its price.
According to data from CoinMarketCap, the BCH price climbed more than 6% in the 24 hours to hit highs of $646, its highest level since December 2024.
Bitcoin Cash’s year-to-date low is $268, and it has extended upside action in the past day in the wake of the Fed cut brings yearly price surge to 102%.
The Bitcoin Cash spike comes amid a technical breakout, with bulls extending gains after an ascending triangle pattern formed on the daily chart. Buyers have also taken out bears at a key level with a broadening wedge pattern.
The Moving Average Convergence Divergence (MACD) indicator shows positive divergence, with the histogram expanding above the zero line. Meanwhile, the Relative Strength Index (RSI) stands at 64.
Given momentum and potential tailwinds, bulls might fancy a move to $1,000, a psychological milestone.
As well as technical strength, a confluence of other catalysts will include regulatory advancements and favorable macroeconomic conditions.
Notably, the US Securities and Exchange Commission has approved generic listing standards, streamlining approvals for spot crypto exchange-traded funds.
This rule change, affecting exchanges like Nasdaq, NYSE Arca, and Cboe BZX, eliminates case-by-case reviews, paving the way for faster launches of products such as those likely to be linked to BCH.
The ETF buzz, the Fed’s rate cut and anticipation of three more reductions in 2025 are fueling optimism.
Key resistance lies at $634, a level that, if breached on high volume, could trigger buy-side pressure toward $721.
If bulls maintain pressure, the next barrier would be around $800 before the psychological $1,000 comes into view. On the downside, primary support is likely at $592 and $530.
