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, posting a range of $33.36 and a brief pullback from the high of $495.30 that buyers quickly erased.
(Please note that all timestamps are in UTC.)
Technical Analysis Highlights
- The price rose from $476.10 to $491.80, up 3.3%
- The intraday range measured at $33.36
- Higher lows were set at $462.67, $474.27 and $479.03.
- A break above $487.00 occurred during the European session due to strong buying interest.
- The price peaked at $495.30, then slipped $3.20 to $490.14 before rebounding to $492.99.
- Multiple attempts to surpass $495.00 took place between 4:00 p.m. and 5:00 p.m. on November 5.
- Volume peaked at 33,795 units on November 4 at 9:00 p.m., compared to the 24-hour average of 13,478 units, an increase of 78%.
- The 0.65% pullback from session highs was followed by a recovery above $491.00.
Models explained
The report describes an upward trend with a clear breakout: buyers repeatedly intervened at higher and higher lows, the price rose to $487 with stronger participation, then a small decline was quickly absorbed, keeping the momentum intact.
Support and resistance map
- Support: $490.00 psychological level tested during a 60-minute correction; Discussion area at $487.00; $479.03 lower
- Resistance: $495.00 area after several rejections; $495.30 maximum session
Objectives and risk framing
- Targets: Immediate upside target at $495.30 with potential for breakout above $500.00
- Invalidation/risk: Defend $487.00 to maintain bullish structure
- Context: The risk/reward ratio favors continuation with a daily range of 7.0% indicating high volatility.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance. our standards. For more information, see CoinDesk Comprehensive AI Policy.
