Bitcoin Cash breaks through a key resistance level as whale buying increases in a new upward trend. Bitcoin Cash (BCH) has broken through an important resistance level that had been hindering the price multiple times. Indicators suggest there is now technical resistance that aligns with a strong indicator of upward price movement. The recent price breakout indicates increasing bullish 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 an established confluence area. Typically, this setup indicates strength in buyer confidence. If this breakout continues over the coming sessions, Bitcoin Cash may continue to advance towards the next resistance level. The formation of higher lows enhances 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 notes a rise in net buying of Bitcoin Cash across major exchanges. Notably, significant accumulation on Binance, OKEx, and HTX, which are popular platforms among Chinese whale investors, is particularly noteworthy. The activity of these large investors may contribute to sustained demand.