BCH’s recovery was fueled by a V-shaped bounce from the critical $391.656 support level, triggering substantial buying volume during early Asian trading hours[1]. The surge to $416.958 coincided with a breakout during the 13:00 UTC hour, supported by 28,068 units of hourly volume—the day’s highest—as bulls defended the newly established $409.800 support zone[1]. Technical indicators suggest bullish momentum may continue, with a bull flag pattern forming post-recovery and the $413.000-$413.500 zone acting as a key defensive line for further upside[1].
The rebound occurred despite broader market pressures from US-China tariff tensions, which introduced volatility across risk assets[1]. Traders appear to be interpreting BCH’s resilience as a sign of strong accumulation by institutional players, particularly given the high-volume support level established during the dip[1]. Analysts note that decreasing volume during consolidation phases often precedes continuation patterns, hinting at potential upward targets near $425 if momentum sustains[1].
