BCH Powers Its Way to $491.80 After Surging Past $487 Resistance

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, displaying a $33.36 range and a brief pullback from a $495.30 high that buyers quickly cleared.

(Please note that all timestamps are in UTC.)

Technical analysis highlights

• The price went from $476.10 to $491.80, up 3.3%
• The intraday range measured $33.36
• Higher lows were set at $462.67, $474.27 and $479.03.
• Breakout above $487.00 occurred during the European session on sustained buying interest
• The price peaked at $495.30, then slipped $3.20 to $490.14 before rebounding to $492.99.
• Several attempted breaches of $495.00 took place between 16:00 and 17:00 on November 5.
• Volume rose to 33,795 units on November 4 at 9:00 p.m., versus a 24-hour average of 13,478 units, an increase of 78%
• The 0.65% pullback from session highs was followed by the recovery above $491.00

The models explained

The report describes an upward trend with a clean farm: buyers have repeatedly entered at progressively higher minimums, the price pushed through $487 with a stronger participation, then a small drop was quickly absorbed, which keeps the momentum intact.

Support vs resistance map

• Support: $490.00 psychological level tested during a 60 minute correction; $487.00 discovery area; $479.03 high low
• Resistance: $495.00 area after several rejections; $495.30 session high

Targets & risk framing

• Objectives: Immediate upside target at $495.30 with upside potential above $500.00
• Invalidation / risk: It defends $487.00 to maintain the bullish structure
• Context: The risk/reward favors continuation with a daily range of 7.0% indicating strong volatility

Disclaimer: Parts of this article were generated with the assistance of 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.