Bitcoin Cash (BCH) is nearing a key resistance level, and traders are awaiting the next move. The focus has shifted to a technical level, which could be crucial in determining whether the cryptocurrency will continue its recovery trend or experience another correction.
On Thursday, February 5, 2026 Bitcoin Cash (BCH) is trading at $460, marking a 0.97% increase in a day. The trading volume is showing a strong bullish surge, up 27.44%, and is currently standing at $456.37 million. Over the last week, the BCH coin price has decreased by 7.64%, according to CoinMarketCap.
Source: CoinMarketCap
BCH Rebound Toward Key Resistance
Analyst Marcus Corvinus highlighted that BCH has bounced back strongly from the demand zone of $425 to $445. The buyers have entered the market quickly as the price has entered this zone. The rebound pushed BCH back toward an important technical barrier.
Currently, BCH is testing its resistance around $465 and $468. This is a structural level that traders are focusing on.
According to Corvinus, if it can break and hold above $465, it could potentially go towards $500. This would essentially be a confirmation of its momentum in the short term.
Source: X
However, the analyst also outlined an alternative scenario. If BCH does not go above the resistance zone, it can fall to $440 before moving up again. This range is a critical decision point, and traders are waiting for confirmation before entering larger positions.
Decline in Volume and Open Interest
According to CoinGlass data, the future volume has decreased by 0.55% to $529.51 million. However, the open interest has declined by 0.44% to $622.34 million. The token OI-weighted funding rate is at 0.0074%. A positive value reflects that long traders are paying a premium to maintain positions.
Source: CoinGlass
Also Read: Bitcoin Cash (BCH) Price Setup Hints at a Potential Rally Toward $600
Over the past 24 hours, total liquidations amounted to $524.98K. The long liquidation is $108.80K, while the short liquidation is at $416.19K. The higher amount in terms of short liquidation indicates that bearish traders faced stronger liquidation pressures in recent price movement.
Source: CoinGlass
RSI and MACD Reflect Bearish Pressure
The Relative Strength Index (RSI) is at 38.00. Meanwhile, the RSI moving average is around 38.92. This indicates that the token is in the lower neutral range. This indicator is showing a lack of momentum but has not yet confirmed that it is oversold.
Source: TradingView
The Moving Average Convergence Divergence line (MACD) is at -26.43, and the signal line stands at -21.81. The MACD histogram sits at -4.62. These values reflect ongoing bearish momentum, though the gap between lines is narrowing.
Also Read: Injective (INJ) at Critical Level: Is a Massive 4600% Rally About to Repeat?
