European Session Buying Lifts Bitcoin Cash to $491.80 After Breaking $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, posting a $33.36 range and a brief pullback from a $495.30 high that buyers quickly faded.

(Please note all timestamps are in UTC.)

• Price moved from $476.10 to $491.80, up 3.3%
• 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
• Price peaked at $495.30, then slipped $3.20 to $490.14 before rebounding to $492.99
• Multiple attempts to breach $495.00 took place between 16:00 and 17:00 on Nov. 5
• Volume peaked at 33,795 units on Nov. 4 at 21:00, versus a 24-hour average of 13,478 units, a 78% surge
• The 0.65% pullback from session highs was followed by recovery above $491.00

The report describes an ascending trend with a clean breakout: buyers repeatedly stepped in at progressively higher lows, price pushed through $487 with stronger participation, then a small dip was absorbed quickly, which kept momentum intact.

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

• Targets: Immediate upside target at $495.30 with breakout potential above $500.00
• Invalidation/risk: Defend $487.00 to maintain the bullish structure
• Context: Risk/reward favors continuation with a 7.0% daily range indicating strong volatility

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