Bitcoin
Branch Bitcoin Cash has made impressive gains over the past 24 hours, shocking the weaknesses of BTC and the wider market.
BCH rose from $491.25 to over $516 in 24 hours, with a little bit of trading volume tripling, over 120,000 BCH changing hands. According to Coindesk, the price reached a high price of $528 at some point, the last time was December 18.
Although large numbers of gatherings are said to be sustainable, they are not supported by improvements in the fundamentals of on-bone. According to Coindesk’s AI research, the fundamentals of the Bitcoin Cash Network have recently reached a six-year low in daily active addresses. According to Chain data, the network is experiencing a “severe demand deficit”, suggesting that recent price action is driven by speculation, rather than actual network use or adoption.
Key AI Insights
- During the last 24 hours from 13:00 to 12:00 on June 30, BCH showed a clear bullish trend, climbing from $491.25 to $519.65, accounting for 5.8% growth.
- Price range during this period is $37.80 (7.7%)on July 1, BCH peaked at $527.37 on July 1.
- Key resistance formed multiple tests around $527, while the price of support ranged from $519 to $520, indicating that there is still a bullish momentum despite a slight pullback.
- The BCH of over 120,000 changed hands at 01:00, almost three times the average volume of the 24-hour period, indicating that buyers are interested.
- In the last 60 minutes from 11:30 to 12:29 on July 1, BCH experienced significant volatility, initially climbing from $519.67 to $522.55, then drastically down 0.71%, closing $518.85.
BCH/BTC Chalk Golden Cross
Binance lists Bitcoin Cash – Bitcoin (BCH/BTC) According to data source TradingView, PAIT tracks the ratio between BCH and BTC prices, up nearly 20% in four weeks, reaching a six-month high of 0.0049.
BCH’s running momentum is getting bigger and bigger (SMA) SMA for more than 200 days.
The model shows that short-term momentum now surpasses the broader trend and has the potential to develop into an important bull market.
