Bitcoin Cash Holds Support at $440 but Sellers Remain in Control

Bitcoin Cash (BCH) has adjusted to a long-term demand zone around $440-$470, which is just below the midpoint of the trading range BCH has maintained over the past two years. Re-testing this long-term demand zone could open up opportunities for a trend reversal to the upside.

However, investors should note that overall market sentiment remains negative. The current Bitcoin (BTC) recovery is likely only temporary, even though it has been strong enough to defend the key psychological support level at $70,000.

Amid Bitcoin facing allegations of being a “Ponzi scheme,” along with rising political instability and geopolitical tensions, Bitcoin Cash buyers may face difficulties in driving a strong recovery.

On-chain indicators show mixed signals for Bitcoin Cash

Supply distribution data indicates that retail investors are not accumulating BCH. Only investors holding between 100 BCH and 1,000 BCH are actively increasing their holdings in 2026. Although this group is relatively large, their influence on the price remains limited.

Source: Santiment Conversely, investors holding between 1,000 BCH and 100,000 BCH are gradually selling off, similar to those holding from 1 BCH to 100 BCH. The only bright spot is the “whales” holding over 100,000 BCH, who continue to increase their assets.

Source: Santiment The average coin age indicators over 90 days and 365 days are used to assess whether there is accumulation across the network. The 90-day average coin age has been steadily increasing since December 2025, which is a positive sign for the market.

However, the 90-day MVRV (Market Value to Realized Value) is currently at its lowest since October 2025. Back then, the crash on October 10 caused a severe market downturn, heavily impacting short-term holders.

Currently, Bitcoin Cash has recovered from the support zone at $470. However, comparing this to market conditions in October 2025 reveals some similarities, including the MVRV values.

Nevertheless, the 365-day average coin age indicator presents a less optimistic view. Data shows continuous selling since October 2025. After December, accumulation has been unstable, with irregular fluctuations. This suggests the market may continue to be volatile in the short term but not enough to establish a sustainable long-term recovery trend.

Downside risks still exist

Price structure and momentum on the daily timeframe, based on moving averages, still indicate a downtrend. Currently, the CMF (Chaikin Money Flow) has fallen to -0.25, signaling significant capital outflows from Bitcoin Cash.

Source: TradingView When combined with the 365-day average coin age indicator, these signals warn of the risk that BCH could continue to decline further. However, the 90-day MVRV remains at its lowest in months, which could help reduce profit-taking pressure on the asset.

Nonetheless, if Bitcoin (BTC) continues to fall below key support levels at $70,000 and $66,000, Bitcoin Cash may face the risk of losing the $440 support, potentially leading to deeper declines in the near future.