BCH -1.23% Due to Short-Term Pressure Amid Mixed Fundamentals

On NOV 8 2025, BCH dropped by 1.23% within 24 hours to reach $504.4, BCH rose by 0.02% within 7 days, dropped by 5.44% within 1 month, and rose by 16.46% within 1 year.

The price movement of Bitcoin Cash (BCH) reflects mixed near-term momentum and uncertainty in the cryptocurrency market. While the one-year performance is positive, recent corrections have dampened short-term sentiment. Traders are monitoring key support and resistance levels to gauge whether the recent pullback is a temporary consolidation or the beginning of a broader bearish phase.

BCH recently broke above $487.00 during the European trading session, supported by above-average volume, signaling a breakout in a sustained bullish pattern. The price climbed to $495.30 before retreating to $490.14, maintaining the overall positive structure. The $487 level was a critical technical threshold, and its successful breach indicated strong buying interest. Notably, the correction of 0.65% was quickly absorbed, reinforcing the resilience of the upward trend.

Analysts have noted that the current volatility, with a 7.0% daily range, suggests a high-risk/reward environment, favoring continuation of the bullish trend. However, the resistance at $495.00 remains a key area to watch, and further attempts to breach this level could signal a larger breakout.

BCH’s price behavior is consistent with the characteristics of an ascending channel, where higher lows and strong volume confirm buyer participation. The next immediate target is a push above $500.00. If BCH fails to defend the $487.00 support zone, the bullish case could be invalidated.

Backtest Hypothesis

A potential backtesting strategy for BCH involves identifying historical instances where the price closed above a key resistance level, such as $487, and then retraced to test a support level, like $490. This setup allows for a technical confirmation of the breakout and provides an opportunity to evaluate the reliability of the pattern in driving subsequent price action.

The backtest would require price data for the relevant time period and would analyze the performance of entering a long position at the breakout, with a stop-loss below the support level and a profit target at a defined resistance above the breakout. By applying this strategy to historical data from 2022 to present, traders can assess the effectiveness of using these levels as actionable signals for entry and exit points.