- Bitcoin Cash (BCH) is gaining attention for a potential upward trend despite recent fluctuations.
- BCH dipped by 3.46% in the past week and 11% over the last 30 days.
- Analyst Javon Marks suggests BCH could surge by 960%, potentially reaching $3,745.89.
- Marks highlights a pattern of higher lows and a “hidden bull divergence” as bullish signs.
Bitcoin Cash (BCH) is capturing the attention of analysts and investors alike as it stands on the precipice of a potentially significant upward trend. Despite recent fluctuations, there’s a growing sense of optimism surrounding its future performance.
Over the past week, Bitcoin Cash has slipped marginally by 3.46%, while the drop carries on to a larger 11% over the past 30 days. But this should not be a dampening of the spirits of the analysts because they remain bullish about what lies ahead for BCH in the long term.
At the time of writing, BCH is currently trading at $340.72, boasting $427.88 million in 24-hour volume, a market capitalization of $6.72 billion, and dominance of 0.32%. More importantly, considering how BCH had been trending downward recently, it was able to post a modest 0.49% increase in the last 24 hours.
Bitcoin Cash (BCH) Set for 960% Surge
Crypto analyst Javon Marks has just shared a bullish outlook on BCH, suggesting the digital asset could be pegging for a major rally. Marks says Bitcoin Cash is currently witnessing a streak of higher Lows, a classic indication of a strong upward trend.
This pattern, forming over a sustained period, many analysts consider a bullish indicator. Marks noted this trend is not about maintaining momentum but a precursor to multiple breakouts that could propel BCH toward a target of $3,745.89.
Marks believes BCH could see an incredible climb off its current levels, surging more than 960% in a move that would present a major victory for investors who have held onto the asset through its recent fluctuations. The key to this potential rally lies in what Marks called “hidden bull divergence,” a technical pattern that often signals the continuation of an already existing uptrend.
Marks’ analysis points to this divergence as a crucial factor for BCH’s potential breakout. He postulates that the market has been building up steam gradually and thus, with the convergence of these bullish signals, could emerge upwards really fast towards the predicted target.
Although the cryptocurrency market can be notoriously unpredictable, all signs are currently in favor of a purely bright future for Bitcoin Cash. If Marks’ analysis were to turn out right, BCH may stand at the threshold of a historic run that gives substantive returns for those willing to take the risk.
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