By , |Edited by
Jul 9, 2025, 5:48 p.m.
- BCH surged from $501.54 to $514.24 during early morning trading on volume nearly four times the daily average.
- Price then stabilized in a $505–$510 range, with repeated support tests near $505 suggesting ongoing accumulation.
- Final hour showed higher lows within a narrow $1.77 band, maintaining constructive momentum above $505.
Bitcoin Cash
traded in a relatively narrow range over the past 24 hours, closing at $505.96 as of 17:13 UTC on July 9, up 0.43%, according to CoinDesk Research’s technical analysis model.
After opening at $503.82, BCH fluctuated between an intraday low of $497.85 and a high of $509.48, maintaining a firm position above the $500 threshold throughout the session.
STORY CONTINUES BELOW
The most notable price action occurred during early trading hours, when BCH climbed rapidly from $501.54 to a peak of $514.24. This move coincided with a burst in trading volume, which reached 64,585 units at 02:00 UTC—nearly four times the 24-hour average of 16,708 units—suggesting accumulation by large holders. Following this surge, the price consolidated in a tighter band between $505 and $510, repeatedly testing support near $505 and resistance near $510 without breaking out in either direction.
In the final hour, BCH exhibited a steady climb off a brief dip to $505.73, progressing to $506.88 by session close. A series of higher lows during this interval further emphasized the market’s bullish lean, though activity remained muted, indicating disciplined positioning rather than speculative trading.
Technical Analysis Highlights
- BCH traded within a 2.34% intraday range, between $497.85 and $509.48.
- Pre-dawn breakout reached $514.24 before settling into consolidation.
- Volume spiked to nearly 4x average at 02:00 UTC, suggesting accumulation.
- Support held near $505, while resistance capped near $510.
- Final hour showed steady upward bias on light trading activity.
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 . For more information, see .
Siamak Masnavi is a researcher specializing in blockchain technology, cryptocurrency regulations, and macroeconomic trends shaping the crypto market. He holds a PhD in computer science from the University of London and began his career in software development, including four years in the banking industry in the City of London and Zurich. In April 2018, Siamak transitioned to writing about cryptocurrency news, focusing on journalism until January 2025, when he shifted exclusively to research on the aforementioned topics.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our .
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