BCH Stumbles at $467 After Triple Rejection, Ends Slightly Down Despite High-Volume Rebound
Bitcoin Cash (BCH)
is trading at $452.13, down 0.54% over the past 24 hours, after failing to breach the $467 resistance level across multiple tests, according to CoinDesk Research’s technical analysis model.
The token briefly surged near that level late on June 23, gaining nearly 3% during a high-volume spike, but was subsequently rejected twice more, reinforcing the significance of that barrier. A descending trendline formed during the corrective pullback, with lower highs establishing a bearish short-term tone.
On the regulatory front, Federal Reserve Chair Jerome Powell announced that U.S. banks now have the freedom to determine their digital asset customer base without prior regulatory pre-approval. This policy shift effectively removes institutional adoption barriers and is considered a meaningful step toward greater integration of crypto within the traditional financial system.
Technical Analysis Highlights
- BCH traded in a $19.76 range (4.4%) from $449.61 to $469.63 over 24 hours.
- At 22:00 on June 23, BCH surged nearly 3% on 79,485 volume units, setting resistance at $467.
- The $467 level was tested and rejected two more times, confirming strong overhead resistance.
- Support formed around $450 with significant volume accumulation between 15:00–16:00.
- A descending trendline of lower highs emerged following the initial spike, signaling bearish momentum.
- A V-shaped micro-trend formed during the final hour, with a bounce from $449.94 to $451.31.
- Volume spiked during the 18:17–18:19 drop and again on the 18:30–18:32 recovery.
- A short-term support zone developed near $450 after repeated successful retests.
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 our standards. For more information, see CoinDesk’s full AI Policy.
