While most of the crypto market has been treading water or slipping slightly, Bitcoin Cash (BCH) is charging ahead. Over the past six weeks, BCH has delivered a strong 27.2% rally, outperforming even Bitcoin (BTC), which saw a minor loss of 0.78% during the same period. This divergence has fueled renewed interest in BCH as it breaks away from the sluggish behavior of top-tier digital assets and eyes further upside beyond the $600 level.

Bitcoin Cash’s recent price action indicates a growing bullish momentum. What’s most notable is how its movement is deviating from the broader crypto market, including its progenitor, Bitcoin. According to data from IntoTheBlock, BCH’s 30-day correlation with BTC stands at just +0.25—significantly lower than historical norms and pointing to a weak, almost negligible alignment between the two. That same dataset also revealed BCH’s negative correlation with other major altcoins, such as Ethereum (ETH) and Dogecoin (DOGE), highlighting its unique trajectory amid broader market uncertainty.

This lack of correlation suggests that traders may be seeing BCH as a hedge within the crypto space—an asset that can move independently and outperform while others stagnate. That sentiment appears to be supported by on-chain volume and momentum indicators.

On the technical front, Bitcoin Cash has made a key bullish move on its weekly chart. Price recently surged above the mid-range level of $448—a significant pivot point that had served as both support and resistance multiple times over the past year. In May, it acted as resistance. In June, bulls flipped it into support, signaling a major shift in market sentiment. This zone was also the midpoint of a broader range that stretches from $272 to $624.

The bullish structure break occurred when BCH moved beyond the previous lower high at $420, further validating the trend reversal. Adding weight to this move, the On-Balance Volume (OBV) indicator has been trending upwards consistently, signaling sustained buying pressure. At the same time, the Relative Strength Index (RSI) crossed above the 50-mark in late April, indicating that bullish momentum has taken over.

Currently, BCH faces some resistance around the $500–$530 range, which has historically been a challenge for bulls to overcome. The $500 level is also a psychological barrier. However, given the recent breakout and rising Open Interest in the derivatives market, there’s growing conviction that BCH may soon breach this hurdle. In fact, on July 1st, BCH briefly touched a local high of $530 before pulling back slightly.

What’s encouraging for bulls is that short-term charts, such as the 4-hour timeframe, remain firmly bullish. The rising Open Interest points to strong participation from traders who are betting on further gains, while spot volume also reflects consistent accumulation.

More importantly, Bitcoin Cash has now marked a new yearly high, giving it further technical strength and market attention. The next logical target for BCH lies at the top of the established range—$640. Should the current momentum hold, and resistance levels continue to fold, that target is well within reach.

BCH’s breakout comes at a time when the broader crypto market remains hesitant. Despite favorable macro factors, such as ETF inflows and easing geopolitical tensions, Bitcoin has struggled to build meaningful upside momentum. In contrast, BCH appears to be forging its own path, buoyed by strong fundamentals and technical signals.

Whether BCH’s rally can continue beyond $600 will depend on several factors: sustained volume, favorable sentiment, and a lack of broader market drag. But for now, all signs point to further gains. Traders and investors watching this rally unfold will be keeping a close eye on how BCH handles resistance near $530—and whether this rally could be just the beginning of a broader trend reversal for the often-overlooked Bitcoin fork.