Bitcoin Cash Price Prediction: BCH Rallies 70% in 7 Days – Can Bitcoin Cash Overtake Bitcoin?
The price of Bitcoin Cash (BCH) has experienced a remarkable rally of 70% within just seven days, igniting speculation about its potential to surpass Bitcoin.
Currently holding near the $300 level, BCH has already completed a significant 78.2% Fibonacci retracement, adding further interest to its upward trajectory.
This Bitcoin Cash price prediction will explore this impressive rally's technical outlook and indicators.
Bitcoin Cash Price Rallies 70% in 7 Days
The current price of Bitcoin Cash (BCH) stands at $296, accompanied by a 24-hour trading volume of $2.4 billion.
BCH has experienced a 4% decline in the last 24 hours, but an impressive 70% surge over the past seven days.
With a live market cap of $5.7 billion, Bitcoin Cash holds the #14 ranking on CoinMarketCap.
Its circulating supply consists of 19,436,669 BCH coins, with a maximum supply capped at 21,000,000 BCH coins.
Bitcoin Cash Price Prediction
Bitcoin Cash (BCH) has achieved a significant breakthrough, surpassing the key 61.8% Fibonacci retracement level at $270, signaling a bullish trend in its price trajectory.
On the daily chart, the presence of a robust bullish candlestick pattern confirms strong buying interest among investors, propelling BCH's price toward the $330 level.
However, a close below this level could potentially trigger a bearish correction for BCH.
It's important to be aware that minor corrections might occur, leading to a retracement toward the $244 level.
The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators on the daily chart are currently in the overbought zone, indicating that the bullish momentum may be nearing exhaustion.
This creates an opportunity for sellers looking to profit from a potential correction below the $330 level, with attractive selling points at target support levels of $244 and $205.
Alternatively, a decisive break above the $330 level could fuel the further upward movement for Bitcoin Cash, paving the way for new highs at $398 and presenting opportunities for bullish trades.
Alternative Coins for Investment
In addition to Bitcoin Cash, two other promising alternative coins worth considering for investment are WSM and Thug Life Token.
Including WSM alongside Bitcoin Cash in your investment portfolio can enhance your chances of success in the crypto market.
Wall Street Memes
Wall Street Memes, a renowned online community catering to informed investors, recently accomplished a significant feat by effectively selling its meme coin, $WSM, during its presale phase.
The presale has generated an outstanding fundraising amount of over $11.7 million in just a few weeks since its launch, showcasing an impressive rate of fundraising.
During the current presale phase, investors are given the chance to buy $WSM at a rate of $0.0307.
As the presale progresses, the price will gradually rise to $0.031, allowing investors to potentially secure guaranteed profits on paper if they participate at this particular stage.
Don't miss out on the opportunity to get involved in the presale of $WSM and potentially capitalize on its promising advancement. Act now and purchase Wall Street Memes to join in on this exciting and profitable prospect.
Thug Life Token
Thug Life Token is making a splash on social media and in web3 circles as a brand-new meme coin project.
Within just a few hours of launching its token presale, the project has already amassed an impressive $200,000 through $THUG sales.
The growing popularity of $THUG is expected to attract more meme coin enthusiasts looking to join the project and contribute financially.
Operating on the Ethereum blockchain, THUG has a maximum supply of 4.2 billion tokens, with 70% of this allocation reserved for the presale phase.
This significant community allocation underscores the importance of building a strong community foundation for a meme token like THUG, as it sets the stage for potential future rallies and sustained growth.
For investors interested in participating in the sale, time is of the essence. The presale will consist of a single stage, offering 1 THUG token at a price of $0.0007.
It's crucial to act swiftly, as the sale will conclude once it reaches the hard cap of $2,058,000.
Don't miss out on the excitement surrounding Thug Life Token ($THUG). Act now and seize the chance to be a part of this promising meme coin project!
Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.