Bitcoin Cash Breaks Out Against Bitcoin; HYPE Token Shows Bearish Divergence
Bitcoin Cash (BCH) Bull Run Potential
- BCH is the top-performing cryptocurrency in the last 24 hours.
- The BCH/BTC trading pair on Bitstamp has broken out of a triangle pattern, indicating potential for a bull run against Bitcoin.
- The ratio has surpassed the 200-day simple moving average, a key indicator of long-term trends.
- Resistance levels are identified at 0.00467 and 0.00636.
- A bearish scenario may arise if the price drops below the monthly low of 0.00373.
HYPE Token Weakening Momentum
- Hyperliquid's HYPE token experienced a five-fold increase to $44 over three months.
- Despite recent higher intraday highs, the 14-day relative strength index shows negative divergence, suggesting weakening momentum.
- This pattern may indicate a potential bearish trend reversal.
