Can Bitcoin Cash price reach $800 after rising 14% in a week?

Bitcoin Cash (BCH) has made a notable mark on the cryptocurrency market with an impressive 14% growth over the week. It is now approaching the $600 threshold, trading around $599 at the time of writing.

Bitcoin Cash price chart | Source: CoinphotonA well-known analyst on the X platform has identified a “bullish flag” (bullish flag) pattern on the BCH chart, while setting two key price targets at $850 and $1,000, respectively.

Notably, the BCH network’s hashrate has reached its highest level since 2017, reflecting growing confidence from miners and the potential for a new bullish cycle.

Strong growth momentum from technical patterns and long-term trends

Bitcoin Cash has shown outstanding strength on the weekly chart, consistently maintaining its upward momentum and approaching the psychological support level at $600. According to veteran trader Alex Clay, BCH is forming a clear “bullish flag” pattern, with two important targets at $850 and $1,000.

Source: Bitcoin Cash price chart by Alex ClayAfter months of slow movement, BCH’s price is now challenging the long-term descending resistance line—a price area that has repeatedly rejected upward moves since 2023. However, this time the market is showing positive changes: demand continues to appear during corrections, and the series of higher lows indicates that bullish momentum is gradually being reinforced.

Recent price action has formed a “bullish flag” pattern just below this key resistance area. This is a signal that often appears when the market is preparing for a new breakout phase. The appearance of this pattern close to long-term resistance shows that buying power remains very strong and decisive.

The pullbacks within the flag pattern have all been quite shallow, with prices quickly recovering—a common feature before the market enters an acceleration phase. The next two notable price levels are $850 and $1,000, both coinciding with major historical supply zones. A breakout from the flag pattern with high trading volume would confirm the buyers’ absolute control.

Currently, technical signals still point to a positive outlook. Bullish momentum is improving, and BCH is very close to a strong growth phase.

Exploding hashrate, BCH network achieves highest security since 2017

The Bitcoin Cash network’s hashrate has continuously increased, now reaching its highest level since 2017. For a system using the Proof-of-Work mechanism, this is a key factor ensuring security and the trust of the mining community.

A higher hashrate means greater network security and reflects miners’ confidence in BCH’s growth prospects. Since mid-2025, this steady uptrend has turned into a clear breakout, bringing BCH’s network security to an unprecedented level since launch—now over 7.64 EH/s.

Source: XThe strong hashrate growth has coincided with BCH’s price challenging its multi-year key resistance zone. Robust network activity during such critical technical moments often provides solid support for price.

Looking ahead, BCH is trading around $599 with solid support at $516. The ability to maintain strength above this support zone will be crucial for the move towards $650, potentially creating a golden cross—a bullish signal that often marks the beginning of a strong new growth cycle.

Ong Giao