Bitcoin Cash has strengthened its short-term setup, advancing above $550 with decisive buyer participation during the Asian session. Buyers have maintained control above levels that previously acted as resistance, signaling an emerging bullish structure. At the time of writing, BCH trades at $547.37, reflecting a 2.49% gain in 24 hours. Market capitalization is $10.91 billion with volume of $565 million, showing increased engagement compared to recent sessions.
The breakout through $547 and $550 occurred with volume over three times the average, marking a shift in momentum backed by strong trading activity. Price later settled in a $553 to $556 range, testing whether new support would hold firm. Recent higher lows at $528.55 and $534.36 continue to indicate a healthy uptrend structure, suggesting potential for additional near-term gains. Traders noted that the market absorbed selling pressure efficiently, and on-chain data points to sustained accumulation by long-term holders. This adds confidence that short-term volatility may be limited, while active traders remain positioned for follow-through over the coming sessions.
Market Structure Remains Constructive
Analysts point to the ascending trend from October 30, which remains intact. The pullback toward $553.58 acted as a normal support test, showing buyers defending key levels. The $547 level now serves as a reliable support if price softens, while $558.25 stands as the next immediate hurdle for continued upside.
Options activity shows increased interest in November calls at $560 and $575 strikes, signaling growing trader confidence in potential further appreciation. While not a forecast, this highlights strategic positioning aligned with bullish momentum.
Volume and Participation Support the Move
Volume peaked at 130,078 units during the initial push above $547, reflecting active participation rather than a brief spike. Elevated volume persisted after the breakout, supporting sustained buyer control. Maintaining support above $553.50 keeps the path toward $558.25 in play, whereas a breach could prompt a retest of $547, though the uptrend structure remains intact.
Analysts also note that higher trading volume combined with minimal price rejections signals market readiness for additional upside, and that momentum indicators remain supportive for continued bullish behavior.
The information presented in this article is for informational purposes only and should not be interpreted as investment advice. The cryptocurrency market is highly volatile and may involve significant risks. We recommend conducting your own analysis.