Bitcoin Cash (BCH) has seen a successful price rally over the past week and more while gaining more than 20%. Earlier today, the Bitcoin Cash (BCH) price surged to its 3-year highs by gaining an additional 14% and shooting past $700 for the first time since 2021.
Bitcoin Cash Halving Pumps BCH Price
A day before, the Bitcoin Cash network successfully underwent its second halving triggering a BCH price dip initially. However, it quickly resumed the rally to the north and is now trading above $700.
As per the on-chain data provided by Santiment, Bitcoin’s RSI is currently at 79, something similar to that observed during the March surge. The RSI serves as an oscillator gauging the pace and magnitude of price changes, with readings surpassing 70 often indicating overbought conditions, and those below 30 suggesting oversold conditions.
While the overbought RSI suggests some caution going ahead, it doesn’t necessarily forecast a downturn for Bitcoin Cash. Rather, it underscores strong in
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