Bitcoin Cash (BCH) rose more than 5% on Thursday,
reaching $487 after a surge in trading volume helped lift the asset past key
resistance levels. The rally occurred despite broad losses across the crypto
market and growing macroeconomic concerns.
Ranked #12 with a market capitalization of more than $9 billion, BCH gained 5% over 24 hours, rebounding sharply
from an intraday low of $432, according to CoinMarketCap. The recovery gathered pace during the U.S.
morning session as multiple volume spikes signaled renewed buying interest.
Bitcoin Cash Price, Source: CoinMarketCap
The coin advanced steadily throughout the day,
breaking past $465 before a final-hour push sent it to $480.10. Strong
continuation followed a breakout from $462.75 to $468.77, driven by
concentrated buying flows.
BCH Outperforms Broader Market
While the broader crypto market faced headwinds,
including a 3.5% decline in total capitalization and continued U.S.-China trade
tensions, BCH stood out for its relative strength. It reclaimed ground lost
earlier in the week and established a fresh support base.
Technical indicators showed a clear uptrend forming
with higher lows and rising volume. The early decline to $454 came on elevated
activity but was quickly reversed, with buyers entering between $455 and $458
to establish a floor.
The session’s strongest gains occurred during the
final hour, as aggressive buying helped clear resistance at $468. Volume increased sharply, confirming participants’ commitment.
Ending the Day Near High
Despite continued macro uncertainty, Bitcoin Cash
ended the day near its high, signaling renewed momentum heading into the next
session. Traders will monitor whether volume remains elevated as the market
digests external pressure.
BCH’s performance on Tuesday highlighted its
resilience in a cautious environment, with price action supported by decisive
intraday flows and strong technical structure.
Bitcoin Cash (BCH) rose more than 5% on Thursday,
reaching $487 after a surge in trading volume helped lift the asset past key
resistance levels. The rally occurred despite broad losses across the crypto
market and growing macroeconomic concerns.
Ranked #12 with a market capitalization of more than $9 billion, BCH gained 5% over 24 hours, rebounding sharply
from an intraday low of $432, according to CoinMarketCap. The recovery gathered pace during the U.S.
morning session as multiple volume spikes signaled renewed buying interest.
Bitcoin Cash Price, Source: CoinMarketCap
The coin advanced steadily throughout the day,
breaking past $465 before a final-hour push sent it to $480.10. Strong
continuation followed a breakout from $462.75 to $468.77, driven by
concentrated buying flows.
BCH Outperforms Broader Market
While the broader crypto market faced headwinds,
including a 3.5% decline in total capitalization and continued U.S.-China trade
tensions, BCH stood out for its relative strength. It reclaimed ground lost
earlier in the week and established a fresh support base.
Technical indicators showed a clear uptrend forming
with higher lows and rising volume. The early decline to $454 came on elevated
activity but was quickly reversed, with buyers entering between $455 and $458
to establish a floor.
The session’s strongest gains occurred during the
final hour, as aggressive buying helped clear resistance at $468. Volume increased sharply, confirming participants’ commitment.
Ending the Day Near High
Despite continued macro uncertainty, Bitcoin Cash
ended the day near its high, signaling renewed momentum heading into the next
session. Traders will monitor whether volume remains elevated as the market
digests external pressure.
BCH’s performance on Tuesday highlighted its
resilience in a cautious environment, with price action supported by decisive
intraday flows and strong technical structure.
