Rallies Bch $ after $ 500, at an altitude of 4X, then enters a narrow unification range

Bitcoin cash

It has been traded in a relatively narrow range over the past 24 hours, as it has been closed at $ 505.96 as of 17:13 UAE time on July 9, an increase of 0.43 %, according to the technical analysis model of Coindesk Research.

After opening it at 503.82 dollars, BCH turned between the lowest level of the day at 497.85 dollars and a height of 509.48 dollars, while maintaining a fixed position over the $ 500 threshold throughout the session.

The most prominent prices occurred during early trading hours, when BC rose from $ 501.54 to a peak of $ 514.24. This step coincided with an explosion in the trading volume, which reached 64,585 units at 02:00 UAE-four times an average of 24 hours from 16,708 units-accumulation by its adult owners. After this increase, the price is unified in a more strict scope between $ 505 and $ 510, and the support test again and again near $ 505 and resistant near $ 510 without going out in any of the two directions.

In the last hour, BCH offered a fixed climb on a summary decline to $ 505.73, moving to $ 506.88 in the session. A series of higher depressions during this time break confirmed that the bullish leanness in the market, although the activity remained silent, indicating the identification of disciplined sites instead of speculative trading.

It highlights technical analysis

• Bch was trading within the 2.34 % range inside the day, between $ 497.85 and $ 509.48.
• Before dawn, the penetration reached $ 514.24 before settling in monotheism.
• The volume has increased to nearly 4x on average at 02:00 UTC, indicating accumulation.
• Support is nearly $ 505, while the resistance was crowned near $ 510.
• The last watch showed a steady upward bias on light trading activity.

Slip: Parts of this article were created with the help of artificial intelligence tools and reviewed by our editorial team to ensure accuracy and commitment Our standards. For more information, see Coindsk Full Policy Artificial Intelligence.