Bitcoin Money
traded in a comparatively slender vary over the previous 24 hours, closing at $505.96 as of 17:13 UTC on July 9, up 0.43%, in accordance with CoinDesk Analysis’s technical evaluation mannequin.
After opening at $503.82, BCH fluctuated between an intraday low of $497.85 and a excessive of $509.48, sustaining a agency place above the $500 threshold all through the session.
Essentially the most notable worth motion occurred throughout early buying and selling hours, when BCH climbed quickly from $501.54 to a peak of $514.24. This transfer coincided with a burst in buying and selling quantity, which reached 64,585 items at 02:00 UTC—practically 4 occasions the 24-hour common of 16,708 items—suggesting accumulation by massive holders. Following this surge, the value consolidated in a tighter band between $505 and $510, repeatedly testing help close to $505 and resistance close to $510 with out breaking out in both path.
Within the closing hour, BCH exhibited a gradual climb off a quick dip to $505.73, progressing to $506.88 by session shut. A collection of upper lows throughout this interval additional emphasised the market’s bullish lean, although exercise remained muted, indicating disciplined positioning relatively than speculative buying and selling.
Technical Evaluation Highlights
- BCH traded inside a 2.34% intraday vary, between $497.85 and $509.48.
- Pre-dawn breakout reached $514.24 earlier than settling into consolidation.
- Quantity spiked to just about 4x common at 02:00 UTC, suggesting accumulation.
- Assist held close to $505, whereas resistance capped close to $510.
- Ultimate hour confirmed regular upward bias on gentle buying and selling exercise.
Disclaimer: Components of this text have been generated with the help from AI instruments and reviewed by our editorial crew to make sure accuracy and adherence to our requirements. For extra info, see CoinDesk’s full AI Coverage.
