The entire crypto-verse was beaming in joy after the industry hit a high of $1.71 trillion. Bitcoin Cash (BCH) had recorded an immaculate growth over the last couple of days. BCH wasn’t the only asset that experienced such a surge as an array of assets like Ethereum (ETH), Binance Coin (BNB) stole the show. BNB climbed on to a third-place with its market cap hitting a high of $30 billion. This was great for the crypto industry as it seems to be making its way to $2 trillion. With Bitcoin accounting for $1 trillion, the total crypto market cap stood at $1.71 trillion, during press time. While all the other prominent coins took a step down, BCH retained its position in the top ten.
Bitcoin cash was quite far away from its all-time high of $2,979. Nevertheless, the asset was trying to make its way to $1K. The recent crypto rally proved to be extremely beneficial for almost all the assets, BCH was undoubtedly a member of this list. At the time of writing, BCH was trading for $734 with a 2% rise in the last 24-hours. Throughout the week, BCH managed to score gains up to 25%.
Bitcoin Cash [BCH] One-Hour Price Chart
The short-term price chart of BCH revealed that the bulls and the bears were putting up a fight in the market. The Parabolic SAR indicator laid down a line of support below the candlesticks, hindering any potential downfall. The Awesome Oscillator indicator formed red closing bars affirming the presence of the bears. The trading activity in the BCH market was neutral, however a buyers’ sentiment was noted.
Bitcoin Cash [BCH] One-Hour Price Chart
The Bollinger Bands indicator used in the one-day price chart of BCH suggested that the asset was in for an increase in volatility. The MACD indicator formed a bullish crossover and suggested that an increase in the altcoin’s volatility could push its price over $800. The Klinger Oscillator followed the footsteps of the MACD indicator and inclined towards the bulls.
All this bullish sentiment in the BCH market could push the altcoin to a new yearly high.