“European session buying lifted volume 78% above the 24-hour average as bitcoin cash set higher lows at $462.67, $474.27 and $479.03.”, — write: www.coindesk.com
BCH-USD 24-Hour Price Chart (CoinDesk Data)
- Breakout above $487 occurred during the European session on sustained buying, sending BCH up 3.3% to $491.80.
- Volume peaked at 33,795 units on Nov. 4 at 21:00, 78% above the 24-hour average of 13,478.
- Resistance formed near $495 including a $495.30 session high, while support sits at $490, $487 and $479.03.
(Please note all timestamps are in UTC.)
Technical analysis highlights
- Price moved from $476.10 to $491.80, up 3.3%
- Intraday range measured $33.36
- Higher lows were set at $462.67, $474.27 and $479.03
- Breakout above $487.00 occurred during the European session on sustained buying interest
- Price peaked at $495.30, then slipped $3.20 to $490.14 before rebounding to $492.99
- Multiple attempts to breach $495.00 took place between 16:00 and 17:00 on Nov. 5
- Volume peaked at 33,795 units on Nov. 4 at 21:00, versus a 24-hour average of 13,478 units, a 78% surge
- The 0.65% pullback from session highs was followed by recovery above $491.00
Patterns explainedThe report describes an ascending trend with a clean breakout: buyers repeatedly stepped in at progressively higher lows, price pushed through $487 with stronger participation, then a small dip was absorbed quickly, which kept momentum intact.
Support vs. resistance map
- Support: $490.00 psychological level tested during a 60-minute correction; $487.00 breakout zone; $479.03 higher low
- Resistance: $495.00 area after several rejections; $495.30 session high
Targets & risk framing
- Targets: Immediate upside target at $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 7.0% daily range indicating strong volatility
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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