Bitcoin Cash [BCH] has shed 17.4% in the past two days, and was down by 11.23% in the past 24 hours. Previously, AMBCrypto had reported that a drop below $500 might be good news for the bulls.
This drop has come to pass, but it was not yet at an end. BCH continued to trade within the two-year range from $272 to $680. At the time of writing, the mid-range level at $476 was about to be tested as support.
The weekly support zone to watch for Bitcoin Cash bullish reaction
Source: BCH/USDT on TradingView
The volume indicators on the weekly chart remained positive. The CMF was moving above the +0.05 level to signal sizeable capital inflows to the market. The OBV agreed with this finding.
Since late 2024, it has been trending higher.
The OBV’s uptrend showed that, despite the range-bound price action, the buying pressure has been higher. It was only a matter of time before the range saw a bullish breakout.
Given the wider market bearishness and the weak Bitcoin [BTC] sentiment, BCH’s range formation could continue for a number of months.
The Fixed Range Volume Profile from early 2024 showed that the Point of Control (red) was at $438. This is the point in the fixed range that has seen the highest volume of trading.
Additionally, since mid-June 2025, Bitcoin Cash [BCH] has seen multiple wicks on the weekly timeframe to the $440-$450 area before it bounced higher.
The current price dip could react in the same way.
Though the MACD threatened a bearish crossover on the weekly timeframe, swing traders should watch out for a retest of $438 and a bounce back above $480.
Source: BCH/USDT on TradingView
The 1-day timeframe helped assert the importance of the $440-$470 demand zone. The technical indicators, especially the momentum, were more bearish on this timeframe.
However, from a price action perspective, so long as the price is above the $440 demand zone, there is potential for a BCH bounce.
Final Summary
- The Bitcoin Cash price action has been range-bound over the past two years.
- BCH has occupied only the upper half of the range since June 2025, and swing traders should not switch to a bearish bias until this changes.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
Credit: Source link
