With a jump of 4.58% and a 24-hour trading volume of $100.12 billion, the crypto market has recorded a bullish reversal overnight. Following this Bitcoin price has successfully retested its $71k level with a jump of 4.86% and a trading volume of $47.085 billion.
With this, top BTC-based altcoins have gained significant traction over the past few hours with many projects recording a double-digit surge. Planning on investing but concerned about the market volatility? Read this price analysis article to understand the short-term market trend.
Bitcoin Cash (BCH)
After recording a stable price action for a brief period, the BCH price has regained momentum by soaring ~11% to its portfolio within the past day. Moreover, with the recent pump, the altcoin has retested its 3-month high. This highlights rising bullish sentiment for it in the market.
The technical indicator, RSI, has experienced a bullish convergence in the 1D time frame. Moreover, it is constantly heading toward its overbought range in the price chart. This indicates a bullish outlook for the altcoin this week.
If the bullish sentiment sustains, the Bitcoin Cash price will retest its high of $400 this month. However, an uncertainty could result in it retesting its support trendline of $309 in the coming time.
Wondering when will BCH crypto hit $1,000? Read our Bitcoin Cash Price Prediction from 2024 up to 2030 to clear all your doubts!
Bitcoin SV (BSV)
With the recent bullish recovery, the Bitcoin SV price has surged 16.62% in the past 24 hours with a trading volume of $93.62 million, a change of +214.03%. With this, the altcoin is now headed toward its important resistance level of $55.50.
The Moving Average Convergence Divergence (MACD) has recorded a rising green histogram with a bullish convergence in its 1D time frame. Moreover, with its SMA experiencing a positive curve, the altcoin may continue gaining value this week.
Suppose, the bulls successfully retest its resistance trendline of $55.50, this could result in the altcoin preparing to retest its upper resistance level of $71 in the coming time. On the negative side, if the bears regain momentum, the BSV price could drop toward its important support of $41.
