$BCH Crashes Out of Channel — Bears Take Control as Bulls Defend $530 Support

$BCH breaks below a long-standing ascending channel, signaling a shift in trend.

Price now hovers above key $530–$540 support zone, the last stand for bulls.

EMA and SMA indicators turn bearish, while volume hints at possible seller dominance.

Bitcoin Cash has slipped over 12% in a week, falling from above $620 to near $537. After breaking a key ascending channel, $BCH now tests critical horizontal support, with momentum fading and bearish pressure mounting.

Breakdown Shifts Structure Bearish

Bitcoin Cash has officially broken below the ascending channel that guided its uptrend since May 2025. The channel supported a healthy pattern of higher highs and higher lows, backed by bullish momentum.

Source: Alpha Crypto Signal Via X

That structure cracked in late September as $BCH dipped below the channel’s lower boundary, triggering concerns of a deeper correction.Now trading near $537, BCH sits just above a crucial horizontal support zone between $530 and $540

This zone previously acted as resistance and is now being tested as support. It marks a critical decision point — a breakdown here could accelerate losses toward the $480–$500 range.

Technical Indicators Confirm Selling Pressure

Momentum indicators paint a clear picture. The 9-day EMA at $564.5 and 50-day SMA at $579.5 are both above the current price, confirming downward pressure. The 9-day EMA is now sloping down, reinforcing short-term bearish sentiment.

Volume activity also adds weight to the trend. Trading volumes remained elevated throughout the decline, particularly during sharp drops around September 22. This surge in participation, likely from sellers, signals that the breakdown is being taken seriously by market players.

The market cap also reflects the drop in confidence. Between September 20 and 26, BCH's market cap fell from above $12 billion to below $10.75 billion — a loss of more than 10% in value.

Last Line of Defense for Bulls

This $530–$540 zone is now the last stronghold for bulls. A bounce from here could spark a short-term recovery, but it would require strong follow-through and a reclaim of key levels like the $564–$580 moving average zones.

Without that recovery, Bitcoin Cash risks sliding further. If support gives way, traders could see price targets near $500 or even $450 come into play.

The current setup demands caution. The broader structure has already shifted bearishly. Until BCH reclaims lost ground, sellers remain in control.

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