Bitcoin
Bitcoin de Biffshoot has produced impressive gains in the last 24 hours, cutting the weakness of the BTC and the wider market.
BCH earned more than 5% from $ 491.25 to $ 516 in 24 hours, the volume of negotiation tripling at one point, because more than 120,000 BCH changed hands. Prices reached a summit of $ 528 at a given time, the level given for the last time on December 18, according to Coindesk data.
Although a high volume gathering is durable, gains are not supported by an improvement in ONCHAIN’s fundamentals. According to research on Coindesk AI, the fundamental principles of Bitcoin Cash Network recently reached six years in daily active addresses. According to data on the chain, the network is experiencing a “critical deficit of demand”, suggesting that the recent price action is more motivated by speculation than the real use or adoption of the network.
AI key badges
- In the past 24 hours of June 30, from 1:00 p.m. to July 1, 12:00 p.m., BCH showed an important optimistic trend, going from $ 491.25 to $ 519.65, representing a gain of 5.8%.
- The price range during this period was $ 37.80 (7.7%)BCH reaching a peak of $ 527.37 at 3:00 am on July 1 after an exceptional volume support.
- The key resistance formed around $ 527 with several tests, while the support was established at $ 519 at $ 520, suggesting a continuous optimistic dynamic despite the minor withdrawal.
- More than 120,000 BCH changed hands at 01: 00, which trips the average volume of 24 hours, which indicates a strong interest of buyers.
- In the last 60 minutes of July 1 from 11:30 a.m. to 12:29 p.m., BCH experienced significant volatility, initially climbing 0.55% from $ 519.67 to $ 522.55 per 11:57 a.m., before greatly reducing 0.71% closing to $ 518.85.
BCH / BTC makes the gold cross
Binance Bitcoin Bitcoin Bitcoin Bitcoin (BCH / BTC) Pair, which follows the ratio between the prices of BCH and BTC, increased by almost 20% in four weeks, reaching a six months higher of 0.0049, according to Data Source TradingView.
BCH outperformance takes momentum, as evidenced by the Haussier golden crossover of the simple 50 -day mobile average (SMA) crossing above the 200-day SMA.
The model indicates that short -term impetus now surpasses the broader trend, with the potential to evolve towards a significant bull market.
