$BCH is trading in a tight range near $598, showing clear consolidation. Strong resistance sits at $605–$610, while buyers are defending the $590–$570 support zone. Momentum is mixed: MACD is weak, but price remains above the 99-hour EMA (~$588), which suggests the structure is still holding. Capital flows are light, meaning the market is cautious and waiting for a clear breakout.
On-chain and futures data show strong whale accumulation, with long positions up 29% in the last 24 hours and average entries near $568, keeping whales in profit. At the same time, short whales entered around $529 and are under pressure. Top traders are selling, but their supply is being absorbed by larger players. If BCH pushes above $610, a short squeeze could accelerate the move higher.
Sentiment has improved after news that Erik Voorhees swapped a large amount of ETH for BCH, adding confidence to the bullish side. BCH is also up 23% year-to-date, outperforming many altcoins. Short term, a break above $610 could open a move toward $630, while rejection may send price back to $590–$570. Longer term, continued whale buying and strong YTD performance keep the trend constructive.
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