Buyers step in during European trading hours, sending BCH above key resistance amid rising volume and improved technical structure.
Bitcoin Cash (BCH) showed renewed strength during the European session, climbing to $491.80 after breaking through the crucial $487 resistance level. The move came as trading activity spiked, with volume rising 78% above the 24-hour average, signaling renewed investor interest and potential short-term bullish momentum.
Rising Demand and Technical Breakout
The latest uptick follows a steady formation of higher lows at $462.67, $474.27, and $479.03, suggesting that buyers are gradually reclaiming control. On the daily chart, BCH rebounded from a lower support zone near $475, confirming a breakout from a descending consolidation phase that has capped upside potential over recent weeks.
BitXJournal Analysts note that sustained closes above $487 could reinforce the recovery structure. “This level has acted as a ceiling for several sessions,” explained one BitXJournal crypto market strategist. “A decisive move above it opens the door toward the $505–$520 range, provided momentum and volume remain consistent.”
Volume Surge and Market Sentiment
The surge in volume during the European hours indicates institutional inflows and algorithmic activity — both common during sessions overlapping with London-based liquidity. The heightened buying pressure aligns with broader market stabilization, as major cryptocurrencies attempt to recover from recent declines.
Technical indicators are also supporting the move. The Relative Strength Index (RSI) has turned upward from near-neutral territory, hinting at renewed momentum without yet reaching overbought conditions. Meanwhile, the 20-day moving average is flattening out, suggesting that bearish momentum is losing steam.
If Bitcoin Cash maintains its foothold above $487, the next upside targets are $505 and $532, corresponding to prior liquidity zones visible on the chart. However, a failure to hold above $475 could trigger a retest of support near $460.
In summary, the European session has reignited optimism for BCH, with price action reflecting improving technical health and increased market participation. As one trader noted, “Momentum looks constructive — but sustained volume will determine whether this breakout holds.”
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.