BCH -1.23% Experiences Decline from Temporary Pressures Despite Conflicting Fundamentals

On November 8, 2025, BCH declined by 1.23% over the past day, settling at $504.4. Over the previous week, BCH edged up by 0.02%, while it fell 5.44% in the last month but gained 16.46% over the past year.

The recent price action of

(BCH) demonstrates a combination of short-term shifts and ongoing market uncertainty. Although the yearly trend remains upward, recent pullbacks have weakened short-term optimism. Market participants are closely observing significant support and resistance points to determine if the latest decline is merely a pause in the uptrend or the start of a more prolonged downturn.

During the European session, BCH surpassed the $487.00 mark, buoyed by higher-than-average trading volume, indicating a breakout within a persistent bullish trend. The price reached as high as $495.30 before pulling back to $490.14, still preserving its positive trajectory. Breaking through the $487 barrier was a notable technical achievement, highlighting strong buying momentum. Importantly, the 0.65% correction was quickly absorbed, underscoring the strength of the upward movement.

Experts point out that the current 7.0% daily price range signals a volatile environment with significant risk and reward, which could support the continuation of the bullish move. However, resistance at $495.00 remains a crucial level, and repeated attempts to break above it may indicate a more substantial rally ahead.

BCH’s price trend aligns with the features of an ascending channel, where rising lows and robust trading volumes confirm active buying. The next short-term objective is to move above $500.00. Should BCH fail to hold the $487.00 support area, the bullish outlook may be negated.

Backtesting Approach

One possible backtesting method for BCH is to look for past occasions when the price closed above a significant resistance, such as $487, and then pulled back to test a support level like $490. This approach helps confirm the breakout technically and offers a way to judge how reliable this pattern is for predicting future price movements.

To conduct the backtest, traders would need historical price data for the relevant period and would analyze the results of entering a long trade at the breakout, setting a stop-loss just below the support, and aiming for a profit at a predetermined resistance above the breakout. Applying this method to data from 2022 onward allows traders to evaluate how effective these levels are as signals for trade entries and exits.