Bitcoin Cash
Exchanged in a relatively narrow range in the last 24 hours, ending $ 505.96 at 5:13 PM UTC on July 9, up 0.43%, according to the Technical Analysis model of Coindesk Research.
After opening $ 503.82, BCH fluctuated between an intrajournual hollow of $ 497.85 and a summit of $ 509.48, now a firm position greater than the $ 500 threshold throughout the session.
The most notable price action occurred during the first hours of negotiation, when BCH quickly increased from $ 501.54 to a peak of $ 514.24. This decision coincided with a Rafale de volume de trading, which reached 64,585 units at 02:00 UTC, four times the average for the average 24 hours a day, which follows the accumulation with major holders. After this increase, the price consolidated in a tighter strip between $ 505 and $ 510, testing the support several times and the resistance almost $ 510 without bursting in both directions.
During the last hour, BCH showed a regular rise in a brief drop to $ 505.73, going to $ 506.88 per closed session. A higher series of stockings during this interval also underlined the meager bullish of the market, although the activity has remained in a mute, indicating disciplined positioning rather than speculative trade.
Strengths of technical analysis
- BCH exchanged in an intra -day range of 2.34%, between $ 497.85 and $ 509.48.
- The escape before dawn reached $ 514.24 before settling in consolidation.
- The volume has increased to almost 4x average to 02h00 UTC, suggesting an accumulation.
- Support maintained nearly $ 505, while the resistance capped nearly $ 510.
- The last hour has shown a regular increase in light trading activity.
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