BCH climbs 1.9% to $518, breaking through critical resistance.

Bitcoin Cash Climbs 1.9% to $518 on Technical Breakout and Institutional Accumulation

Bitcoin Cash (BCH) advanced 1.9% on Wednesday, rising from $508.32 to $518.01 as technical momentum propelled the token higher amid broader crypto volatility. Trading within a $32.78 range, BCH outperformed most altcoins, which faced resistance near key levels.

The breakout came at 13:00 UTC, when BCH pierced $530 resistance on 39.3K units of volume—158% above the 24-hour average. After reaching $532.16, the token consolidated in a descending channel, maintaining higher lows and cementing support at $515.

Hourly action showed a two-phase move starting at 02:35 UTC on Thursday, with BCH jumping from $516.34 to $521.66 before pulling back slightly to $518.07. Resistance near $521.50 was tested while support held at $518, reinforcing the broader bullish structure.

Technical Momentum and Accumulation
With no specific fundamental catalyst, BCH’s price action was dominated by technical factors. While Bitcoin struggled near $107,000 and many altcoins sold off from resistance, BCH’s hold above $515 suggested institutional accumulation. Consolidation on declining volume indicates limited selling interest, signaling healthy price discovery.

Key Technical Levels

• Support: $515 (primary), $499–$503 (secondary)
• Resistance: $521.50 (short-term), $530–$532 (upper target)
• Volume: 39.3K units during breakout; 3,276 units on 60-minute spikes; declining volume during consolidation signals low distribution pressure
• Chart Patterns: Higher lows maintained; descending channel shows controlled profit-taking; two-phase movement highlights institutional involvement

Targets & Risk Management

• Immediate Target: $521.50 retest with volume confirmation
• Extended Objective: $530–$532 breakout highs
• Risk Threshold: Break below $515 signals trend failure
• Stop Placement: Below $499 for swing trades

BCH remains in a bullish trend, supported by higher lows and institutional accumulation above $515, with traders eyeing resistance levels for continuation toward prior highs.

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