Bitcoin Forks, BCH and BSV Rally as Bitcoin Price Consolidates Within a Narrow Range – 15% Rally Looks Imminent
Bitcoin price is stuck above $94,000 and this continued behavior has paved the way for the growth of altcoins. Interestingly, trader interest has shifted from BTC to its forks and as a result, the prices of BitcoinCash (BCH) and Bitcoin SV (BSV) have started to rise continuously. While BSV price is up more than 15%, BCH price is trying to follow the trend with a jump of more than 3%. However, these rises indicate that a major upside could occur soon.
Bitcoin SV (BSV) price analysis.
Bitcoin SV has been consistently higher after bouncing off the July 2024 lows near $30, and after bouncing off interim lows under $50, the rally has sparked a strong recovery. The recovery was supported by a massive influx of buying pressure as volume rose 10 times, over 800% from $50 million to $500 million in just a few hours. However, PSV price The stock has become a top performer, but will the rally withstand the bearish heat?
As shown in the chart above, BSV price rallied within an expanding bullish channel and rebounded from its lowest support since July 2024. With this, the token has positioned itself within the 50-day and 200-day moving average, where it acts as strong resistance and support. On the other hand, the Ichimoku Conversion Line and Base Lines have seen a bullish crossover, indicating the beginning of an uptrend. In addition, the super trend turned to the upside and the OBV indicator showed a bullish divergence. In addition, trading volume has increased at frequent intervals, indicating that traders are vigilant about price movement.
Therefore, Bitcoin SV price is expected to maintain a good rally and rise above the immediate resistance at $68.46, which may revive hopes of entering the region between $71.16 and $72.89. This could revive the rally towards the upper resistance level of the channel above the $95 level, gaining a 3-digit figure.
Bitcoin Cash (BCH) price analysis.
BitcoinCash has entered the top 20 crypto assets after the recent surge in its value and volume, which increased by 50%. Despite this, the value of the cryptocurrency remains below the levels at which it began trading in 2025, suggesting that there is more room for token inflation. Therefore, BCH price. This cycle will likely double in size at around $1200 if this trade goes well.
BCH price is stuck within a narrow range, with levels trading within the upper and lower levels. As a result, the Bollinger Bands indicator has contracted and may continue to maintain parallel consolidation. This indicates that the bulls and bears remain vigilant and apply the required pressure at the right time. Secondly, the RSI seems to be following a trend since before as it maintains a uniform trend along the rising trend line to reach the upper threshold. Currently, the levels have rebounded from the lower limit and are expected to have a similar trend.
Therefore, it is believed that the price of BitcoinCash (BCH) is attracting some liquidity, which could help the rally remain high. However, after horizontal consolidation, BCH price may eventually lead to a healthy rally towards the interim highs at $600.
Don’t miss any opportunity in the world of cryptocurrencies!
Stay on top of the latest breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
http://image.coinpedia.org/wp-content/uploads/2024/04/29180650/BCH-Price-Projections-600-Target-Or-Bearish-Retreat-To-400-In-May.webp