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BCH has recently experienced a noticeable abnormality in trading volume. Within the 30-minute cycle, the trading volume suddenly surged, with a month-on-month increase of 135.9%. Such abnormal fluctuations often indicate that the market may show some movement.
As of the observation point, BCH price is fluctuating around 636.7 USDT. From a technical perspective, the key support at the 1-hour level is at 634.56, only 0.51% away from the current price. The support zone is approximately between 634.56 and 641.71. This level is quite close, and from a trading standpoint, it is worth paying attention to.
If there are indeed rebound signals near the support later on, consider placing long positions around 634.56, with the target set at the resistance level of 654.5. Of course, the abnormal increase in volume is just an initial signal; the true trend initiation still requires confirmation from subsequent movements. It’s advisable to keep a close eye on BCH’s upcoming performance.