4 hours ago
Bitcoin Cash (BCH) traded successful a comparatively constrictive scope implicit the past 24 hours, closing astatine $505.96 arsenic of 17:13 UTC connected July 9, up 0.43%, according to CoinDesk Research's method investigation model.
After opening astatine $503.82, BCH fluctuated betwixt an intraday debased of $497.85 and a precocious of $509.48, maintaining a steadfast presumption supra the $500 threshold passim the session.
The astir notable terms enactment occurred during aboriginal trading hours, erstwhile BCH climbed rapidly from $501.54 to a highest of $514.24. This determination coincided with a burst successful trading volume, which reached 64,585 units astatine 02:00 UTC—nearly 4 times the 24-hour mean of 16,708 units—suggesting accumulation by ample holders. Following this surge, the terms consolidated successful a tighter set betwixt $505 and $510, repeatedly investigating enactment adjacent $505 and absorption adjacent $510 without breaking retired successful either direction.
In the last hour, BCH exhibited a dependable ascent disconnected a little dip to $505.73, progressing to $506.88 by league close. A bid of higher lows during this interval further emphasized the market’s bullish lean, though enactment remained muted, indicating disciplined positioning alternatively than speculative trading.
Technical Analysis Highlights
- BCH traded wrong a 2.34% intraday range, betwixt $497.85 and $509.48.
- Pre-dawn breakout reached $514.24 earlier settling into consolidation.
- Volume spiked to astir 4x mean astatine 02:00 UTC, suggesting accumulation.
- Support held adjacent $505, portion absorption capped adjacent $510.
- Final hr showed dependable upward bias connected airy trading activity.
Disclaimer: Parts of this nonfiction were generated with the assistance from AI tools and reviewed by our editorial squad to guarantee accuracy and adherence to our standards. For much information, see CoinDesk's afloat AI Policy.
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