Bitcoin Cash Leaps Above $480 as Trading Activity Spikes Despite Market Headwinds
Bitcoin Cash (BCH) surged past $480 on Tuesday, outperforming a crypto market weighed down by global economic tensions and sliding Bitcoin prices.
BCH rose 3.15% over the past 24 hours, settling at $480.10 after rebounding sharply from a session low of around $454, according to CoinDesk Research’s technical analysis.
Unlike many digital assets struggling under broader market pressure, Bitcoin Cash found momentum late in the trading day. A significant uptick in trading volume—up 21.98% compared to its 30-day average—signaled strong buying interest as traders pushed through resistance levels.
Activity spiked notably during U.S. morning hours, with several bursts of buying between 08:00 and 12:20 UTC. The decisive move above $468 in the final hour was driven by aggressive purchasing, propelling prices to as high as $480.10.
This rally came against a backdrop of wider crypto weakness, including a 3.5% decline in overall crypto market capitalization and intensifying U.S.-China trade tensions. Despite these headwinds, BCH reclaimed ground lost earlier in the week and closed near its highs, showing a series of higher lows and evidence of steady accumulation—a sign of potential continued bullish sentiment.
Technical Analysis Details
- BCH traded in a 24-hour range of $454.16 to $469.06, marking a 3.26% swing.
- The session opened with a drop to $454 on above-average volume of 41,000 units, but support emerged around $455–$458.
- Buyer interest intensified between 08:00 and 10:00 UTC, lifting the price toward the $468 resistance zone.
- In the final hour, BCH surged from $462.75 to $468.77 (+1.3%), then climbed further to $480.10.
- Notable buying bursts included 1,314 units at 11:27 UTC, 718 units at 12:15, and over 3,600 units combined between 12:20 and 12:21 UTC.
- BCH has formed a short-term uptrend, marked by higher highs and higher lows, supported by sustained trading volumes.
With fresh support levels and renewed trading momentum, Bitcoin Cash heads into the next session poised to test further upside—even as volatility continues to grip the broader crypto market.
