- Bitcoin Cash broke above a multi-tested resistance zone, confirming a bullish structure backed by higher lows and trendline support.
- Whale accumulation surged on major exchanges, with Chinese whales driving strong net buying activity across Binance, OKX, and HTX.
- BCH price rose to $463.02, posting a 24-hour gain of 8.92% and 11.14% over seven days, signaling renewed bullish market activity.
Bitcoin Cash (BCH) has broken above a significant resistance zone that had been holding back the price multiple times. Indicators point to technical resistance now aligning in conjunction with a strong bullish price action indicator. The recent price breakout suggests upward momentum is increasing.
Strong Technical Setup Supports the Breakout
According to UniChartz, Bitcoin Cash has finally moved above a long-standing resistance zone. This level had rejected price action on several occasions in the past. The current breakout is supported by technical patterns: a higher low has formed, the ascending trendline has remained intact, and price rebounded from an established confluence zone.
Such a setup typically suggests strength in buyer conviction. If this breakout remains valid over the next sessions, BCH may continue advancing toward its next resistance area. The formation of higher lows adds confidence to the pattern, indicating sustained accumulation.
Whale Activity Pushes Buying Pressure
On-chain data supports the technical breakout with increased buying interest. Crypto analyst @CW8900 notes that net buying for Bitcoin Cash is rising across all major exchanges. Of particular note is the heavy accumulation on Binance, OKX, and HTX—platforms that are popular among Chinese whale investors.
The activity of these large holders may contribute to sustained demand for BCH. Whale participation often adds liquidity and can drive strong market trends when combined with favorable technical patterns.
This coordinated net buying surge suggests increased confidence from major participants and strengthens the case for further price movement to the upside.
Price Action and Market Performance
As of writing, Bitcoin Cash’s price is $463.02. It has seen an increase of 8.92% in the past 24 hours and 11.14% in the past seven days. The 24-hour trading volume is $316,160,622, suggesting market participant interest has returned.
The movement appears to have currently taken place resulting in a breakout above resistance, which supports the bullish overall structure. If the rally continues, it could indicate the beginning of a new price action phase upwards for Bitcoin Cash. Traders are currently seeing if this breakout sticks and becomes a reliable support area.
