According to Coindesk’s technical analysis data model, BCH rose 3.3% to $491.80 after clearing $487 in above-average European session volume, posting a $33.36 range and a brief pullback from a $495.30 high that quickly faded buyers.
(Please note all timestamps are in UTC.)
Technical Technical Assessments
- The price moved from $476.10 to $491.80, up 3.3%
- The intraday range is measured at $33.36
- Higher lows were set at $462.67, $474.27 and $479.03
- The breakout above $487.00 occurred in the European session on long buying interest
- The price leaked to $495.30, then slipped $3.20 to $490.14 before rebounding to $492.99
- Multiple attempts to break $495.00 occurred between 16:00 and 17:00 on November 5
- Volume dipped to 33,795 units on November 4 at 21:00, compared to a 24-hour average of 13,478 units, a 78% advance
- A 0.65% pullback from session highs was followed by a recovery above $491.00
Patterns explained
The report describes an upward trend with a clean breakout: buyers repeatedly walked into the forward higher lows, the price pushed through $ 487 with stronger participation, then a small dip was quickly absorbed, keeping the momentum intact.
Support vs resistance map
- Support: $490.00 level psychologically tested in a 60-minute correction; $487.00 breakout zone; $479.03 higher low
- Resistance: $495.00 spot after multiple rejections; $495.30 session high
Targets and risk framing
- Targets: Immediate Upside Target At $495.30 with potential breakout above $500.00
- Invalidation/Danger: 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 help from AI tools and reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see Coindesk’s full AI policy.
