According to CoinDesk Research’s technical analysis data model, BCH rose 3.3% to $491.80 after clearing $487 on above-average European session volume, posting a $33.36 range and a brief pullback from a $495.30 high that buyers quickly faded. (Please note all timestamps are in UTC.)Technical analysis highlightsPrice moved from $476.10 to $491.80, up 3.3%Intraday range measured $33.36Higher lows were set at $462.67, $474.27 and $479.03Breakout above $487.00 occurred during the European session on sustained buying interestPrice peaked at $495.30, then slipped $3.20 to $490.14 before rebounding to $492.99Multiple attempts to breach $495.00 took place between 16:00 and 17:00 on Nov. 5Volume peaked at 33,795 units on Nov. 4 at 21:00, versus a 24-hour average of 13,478 units, a 78% surgeThe 0.65% pullback from session highs was followed by recovery above $491.00Patterns explainedThe report describes an ascending trend with a clean breakout: buyers repeatedly stepped in at progressively higher lows, price pushed through $487 with stronger participation, then a small dip was absorbed quickly, which kept momentum intact.Support vs. resistance mapSupport: $490.00 psychological level tested during a 60-minute correction; $487.00 breakout zone; $479.03 higher lowResistance: $495.00 area after several rejections; $495.30 session highTargets & risk framingTargets: Immediate upside target at $495.30 with breakout potential above $500.00Invalidation/risk: Defend $487.00 to maintain the bullish structureContext: Risk/reward favors continuation with a 7.0% daily range indicating strong volatility
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
European Session Buying Lifts Bitcoin Cash to $491.80 After Breaking $487 Resistance
