According to CoinDesk Research’s technical analysis data model, BCH rose 3.3% to $491.80 after clearing $487 on above-average European session volume, with a $33.36 range and a brief pullback from a $495.30 high that buyers quickly faded.
(Please note that all timestamps are in UTC.)
Technical analysis highlights
- The price has moved from $476.10 to $491.80, an increase of 3.3%
- Intraday range measured $33.36
- Higher lows were set at $462.67, $474.27 and $479.03
- Break above $487.00 occurred during the European session on sustained buying interest
- The price peaked at $495.30, then fell $3.20 to $490.14 before rising to $492.99
- Several attempts to break $495.00 took place between 16:00 and 17:00 on 5 November
- Volume peaked at 33,795 units on November 4 at 9 p.m., versus a 24-hour average of 13,478 units, up 78%
- The 0.65% pullback from session highs was followed by a rally above $491.00
Patterns explained
The report describes an uptrend with a clean breakout: buyers repeatedly entered progressively higher lows, price pushed through $487 with stronger participation, then a small decline was quickly absorbed, keeping momentum intact.
Support vs resistance chart
- Support: $490.00 psychological level tested during a 60-minute correction; $487.00 breakout zone; $479.03 higher low
- Resistance: $495.00 area after multiple rejections; $495.30 session high
Objectives and risk framing
- Goal: Immediate upside target of $495.30 with breakout potential above $500.00
- Invalidation/Risk: Defend $487.00 to maintain the bullish structure
- Context: Risk/reward favors continuation with a daily range of 7.0%, indicating strong volatility
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial staff to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI policy.
