Buying Momentum in Europe Sends Bitcoin Cash to $491.80, Clearing Crucial $487 Level

Bitcoin Cash Rises to $491.80 as European Session Buying Sparks Breakout Above $487

Bitcoin Cash (BCH) gained 3.3% on Wednesday to reach $491.80, supported by strong European session activity that lifted trading volume 78% above its 24-hour average. The surge confirmed a clean breakout above the $487 resistance level as buyers maintained control, according to CoinDesk Research’s technical analysis model.

BCH traded within a $33.36 intraday range, climbing from $476.10 to a session high of $495.30 before briefly easing to $490.14. The quick recovery to $492.99 underscored solid buyer demand and continued upward momentum.

Key Technical Insights

• Price Move: +3.3% from $476.10 → $491.80
• Intraday Range: $33.36
• Higher Lows: $462.67, $474.27, $479.03
• Breakout Zone: $487.00
• Peak Volume: 33,795 units, +78% vs. 24-hour average
• High Tests: Repeated rejections near $495 between 16:00–17:00 UTC

Trend Overview
BCH’s price action reflected a steady uptrend with buyers defending progressively higher lows. The breakout above $487 confirmed bullish strength, while the fast rebound from minor pullbacks kept momentum intact.

Support & Resistance Levels

• Support: $490.00, $487.00, $479.03
• Resistance: $495.00–$495.30 range

Outlook
Momentum favors a test of the $500 psychological level if BCH sustains strength above $487. Continued participation from buyers amid elevated volatility — a 7% daily range — signals healthy market depth and strong trading engagement.