Bitcoin Cash Roars: BCH Price Explodes Over 11%, Smashing Past $350 – What’s Next?
NEW YORK, April 12 – Bitcoin Cash (BCH) experienced a dramatic price surge against the US Dollar on April 12th, capturing significant attention in the cryptocurrency market. As of the latest update (around 6:28 PM UTC), BCH was trading strongly at $350.02.
This marks a substantial gain of +$37.04 for the day, equating to a remarkable +11.83% increase. The surge propelled Bitcoin Cash significantly above its previous closing price of $312.98, showcasing intense buying pressure.
The 1-day trading chart vividly illustrates the day’s narrative. After consolidating in a relatively tight range around the 315 level for most of the morning and early afternoon, BCH ignited around 2:30 PM (correlating with typical US afternoon trading). The price embarked on a steep, near-vertical climb, breaking through several resistance levels before decisively clearing the $350 mark. It reached an intraday high slightly above this level before settling near the $350.02 point shown.
Price Prediction & Outlook:
Following such a powerful upward move, traders are closely watching key levels. The immediate challenge for BCH is to maintain support above the newly conquered $350 threshold. Sustaining this level could build confidence for a potential test of higher resistance zones, possibly towards $360 or beyond, if the bullish momentum continues.
However, after an over 11% single-day jump, some consolidation or pullback is also possible. Key support levels to watch on any retracement would likely be the breakout area around $330, and further down, the previous close near $313. The significant volatility demonstrated suggests traders should brace for continued dynamic price action as the market digests these rapid gains. Market sentiment across the broader cryptocurrency space will also likely play a crucial role in BCH’s next direction.
