BCH Fails to Break $467 Resistance, Trades at $452.13
Bitcoin Cash (BCH) is trading at $452.13, down 0.54% in the last 24 hours after failing to breach the $467 resistance level. Recent trading included a brief surge near $467 on June 23 with nearly a 3% increase but faced rejections that reinforced the resistance barrier. A descending trendline indicates bearish short-term momentum.
Key regulatory news includes Federal Reserve Chair Jerome Powell's announcement allowing U.S. banks to determine their digital asset customer base without prior approval, facilitating institutional adoption of crypto.
Technical Analysis Highlights
- BCH traded within a $19.76 range (4.4%) from $449.61 to $469.63 over 24 hours.
- At 22:00 on June 23, BCH surged nearly 3% on 79,485 volume units, establishing resistance at $467.
- The $467 level was tested and rejected twice, confirming strong overhead resistance.
- Support formed around $450, with significant volume accumulation between 15:00–16:00.
- A descending trendline of lower highs emerged, indicating bearish momentum.
- A V-shaped micro-trend appeared during the final hour, bouncing from $449.94 to $451.31.
- Volume spiked during the 18:17–18:19 drop and again during the 18:30–18:32 recovery.
- A short-term support zone developed near $450 after successful retests.