Bitcoin Cash Breaks Key Resistance Level as Whale Buying Grows in New Uptrend. Bitcoin Cash (BCH) has broken a significant resistance level that has hindered the price several times. Indicators suggest that there is now technical resistance that aligns with a strong bullish price movement. The recent price breakout indicates increasing upward momentum.

Strong Technical Setup Supports the Breakout

According to UniChartz, Bitcoin Cash has finally surpassed a long-standing resistance level. This level had rejected price movement on several previous occasions. The current breakout supports technical patterns: a higher low is forming, the upward trend line remains intact, and the price has bounced from a confluence zone. This setup typically indicates strong buyer confidence. If this breakout continues in the upcoming sessions, Bitcoin Cash may progress toward the next resistance level. The formation of higher lows reinforces confidence in the pattern, suggesting sustainable accumulation.

Whale Activity Drives Buying Pressure

Network data supports the technical breakout with increased buying interest. Cryptocurrency analyst @CW8900 points to a rise in net buying of Bitcoin Cash across major exchanges. Notably, there has been significant accumulation on Binance, OKEx, and HTX, which are popular platforms among Chinese whale investors. The activity of these large investors may contribute to sustaining demand.