Bitcoin Cash Holds Above $500 Amid Bullish Signals and Volume Surge

Bitcoin Cash (BCH) traded in a tight range on July 9, closing at $505.96, up 0.43% over 24 hours, according to CoinDesk Research. The cryptocurrency opened at $503.82 and maintained a firm stance above the $500 level, with an intraday low of $497.85 and a high of $509.48.

A notable price move occurred during early trading when BCH surged from $501.54 to a session high of $514.24. This sharp upward move was backed by a trading volume spike to 64,585 units at 02:00 UTC—almost four times the 24-hour average of 16,708. The surge suggests accumulation by large holders, adding to the asset’s bullish outlook.

Following the rally, BCH entered a period of consolidation, trading within a narrow band between $505 and $510. Despite repeated tests, resistance near $510 and support at $505 held firm, indicating a stable technical structure and low volatility environment.

In the final hour, BCH climbed steadily from a dip at $505.73 to end at $506.88. The consistent formation of higher lows during this period hints at ongoing bullish sentiment. However, lighter trading volume during this phase points to controlled positioning rather than speculative activity.

With BCH staying above key support levels and volume spikes signaling strong interest, market participants are watching closely for a potential breakout. The cryptocurrency’s 2.34% intraday range and resilience above $500 continue to reflect market confidence amid broader crypto sector consolidation.

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