Bitcoin Cash price has shown a period of horizontal consolidation over the past twelve months, but a potential breakout is anticipated as the community prepares for a significant network upgrade in the coming weeks. 2023 marked Bitcoin Cash’s (BCH) best performance among top crypto assets, excluding Bitcoin (BTC), with gains exceeding 5% and reaching $382 on Friday, May 2nd. This follows robust bullish sentiment fueled by the recent surge above key resistance levels, indicating a potential for further price appreciation. The BCH network has experienced significant growth in recent years, thanks to its robust community of over 345k holders and fixed supply. However, competition from innovative layer one (L1) projects like Solana (SOL) and Ethereum (ETH) has intensified. To ensure sustainable development and wider adoption, the Bitcoin Cash Network is preparing for a major upgrade on May 15th, 2025, which will introduce advanced smart contract functionalities through the Targeted Virtual Machine Limits. This strategic move will pave the way for new opportunities and enhance the network’s capabilities. BCH Price Projections The price of BCH has consistently consolidated between $273 and $641 since April 2024, showcasing a strong potential for a price breakout in the coming months. Technical analysis suggests that following resistance lines and achieving critical price breakouts could lead to new highs. Midterm targets for BCH are set at approximately $707, aiming to capitalize on the network’s ongoing growth and technological advancements. In addition, a stop loss around $311 provides a safety net during potential downturns.