- BCH currently trades near the $515–$520 demand zone, historically supporting rallies and showing continued buyer engagement amid sideways price movement.
- Futures open interest for BCH rose above $500M, reflecting growing speculative activity despite inconsistent price movement across the mid-year period.
- The broken symmetrical triangle suggests building momentum positioning BCH for potential upward movement toward mid-range levels.
Bitcoin Cash (BCH) continues to trade between its supply and demand zones.This is reflecting a market balancing buyer and seller activity. Current price action suggests consolidation with potential breakout movements in the next sessions.
Supply and Demand Zones Define BCH Price Action
BCH is currently navigating the upper demand zone around $515–$520, an area that historically supported several upward rallies. Buyers appear to be stepping in the market’s sideways structure despite recent downward momentum.
There is a strong supply zone near $555–$570. This zone has repeatedly rejected price advances signaling persistent selling pressure at higher levels. This area serves as a ceiling that BCH must surpass to sustain bullish trends.
The $485–$500 and $445–$455 zones will provide additional support if price declines below $510. Each demand zone identified reflects pockets of buyer interest capable of absorbing selling pressure.
Futures Open Interest Indicates Market Positioning
Tracking BCH futures open interest (OI) reveals trader behavior over the past year.Early-year activity saw OI surge from $200M to nearly $1B, aligning with rapid price spikes.
This initial growth reflected leveraged long positions, followed by a sharp price decline and OI reduction. The correction eliminated excessive leverage and reset market conditions.
Mid-year, open interest held steady between $200M and $400M even as price moved around. This was due to a more cautious approach by the buyers. Later on, OI pushed past $500M. This move shows a pickup in speculative activity—even though the price didn’t always move in a clear direction.
Technical Patterns Signal Potential Momentum
In the 2-week timeframe, BCH has moved above a broken symmetrical triangle pattern. The consolidation suggests buyers are entering, building momentum for a possible trend continuation.
As momentum accumulates, BCH may target mid-range levels around $540. The structure of current price action demonstrates readiness for a directional breakout.
According to CW8900, BCH continues showing strength in buy wall zones with relatively small net selling. This movement appears distinct from broader market trends, signaling concentrated interest.
Market watchers are keeping a close eye on BCH to see what its next big move will be. How supply, demand, and open interest interact from here will ultimately decide whether BCH can regain upward momentum or simply stay in a consolidation phase.
