Bitcoin Cash (BCH) is currently navigating key demand zones around $515–$520. This historical support area has consistently facilitated rallies, showcasing continued buyer engagement despite recent sideways price movement. The breaking of a symmetrical triangle pattern suggests growing momentum for upward movement toward mid-range levels. Futures open interest has surged past $500M, reflecting increased speculative activity, even amidst inconsistent price action across the year.
A strong supply zone near $555–$570 acts as a ceiling, prompting persistent selling pressure at higher levels. If BCH can surpass this zone, it could signal sustained bullish trends.
Meanwhile, support zones around $485-$500 and $445-$455 will provide additional buffer should price decline. These demand zones demonstrate pockets of buyer interest capable of absorbing selling pressure. The current market activity shows BCH is in a buy wall zone with minor net selling.
With the rise in open interest, traders are increasingly anticipating BCH’s next move. Market watchers will be watching closely to see if BCH can regain upward momentum or stay in a consolidation phase based on interplay of supply and demand along with market timing.