Bitcoin Cash
Is traded in a relatively narrow range over the last 24 hours and closed for $ 505.96 per day. 17:13 UTC on July 9, an increase of 0.43%, according to Coindesk Research’s technical analysis model.
After opening of $ 503.82, BCH swung between an intraday -low of $ 497.85 and a high of $ 509.48 and maintained a fixed position over the threshold of $ 500 throughout the session.
The most notable price action happened in the early trading times when BCH climbed quickly from $ 501.54 to a highlight of $ 514.24. This trait coincided with a burst in the trading volume that reached 64,585 units at 02:00 UTC-nest four times the 24-hour average of 16,708 units-what suggests the accumulation of large holders. Following this increase, the price of a tighter tape consolidated between $ 505 and $ 510, repeatedly testing support near $ 505 and resistance near $ 510 without breaking out in both directions.
In the last hour, BCH showed a steady increase from a short dip to $ 505.73, where he went to $ 506.88 at session close. A number of higher low lower during this interval further emphasized the Bullish Mean of the market, although the activity remained muted, indicating disciplined positioning rather than speculative trade.
Technical analysis highlights
- BCH traded within a 2.34% range between $ 497.85 and $ 509.48.
- Breakout before dawn reached $ 514.24 before settling in consolidation.
- Volume spiked to almost 4x average at. 02:00 UTC, which suggests accumulation.
- Support held nearly $ 505 while the resistance closed near $ 510.
- The last hour showed stable upward bias on easy trade activity.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with Our standards. For more information, see Coindesk’s full AI policy.
