Bitcoin Cash has pushed through a key chart formation against Bitcoin, fueling hopes for additional upside.
Trading at $491.65, BCH has emerged as the top performer among the 100 biggest cryptocurrencies in the past 24 hours. On Bitstamp, the BCH/BTC pair has broken out of a triangle pattern formed by steadily falling intraday highs and rising lows, a classic setup indicating price compression.
Such breakouts are often viewed as precursors to significant price movements, suggesting Bitcoin Cash could see stronger gains relative to Bitcoin, which is currently valued at $107,223.43.
Further strengthening the bullish narrative, the BCH/BTC ratio has crossed above its 200-day simple moving average, a key long-term trend signal closely watched by traders and institutions alike.
However, potential resistance looms at 0.00467, the swing low from February 2024, and at 0.00636, the high reached in December. A drop below the monthly low of 0.00373 would undermine the bullish case.
HYPE Token Flashes Warning Sign After Major Rally
Meanwhile, caution signs are emerging for Hyperliquid’s HYPE token, which has enjoyed a sharp rally in recent months.
HYPE has soared nearly fivefold to a peak of $44 over the last three months. Yet its daily price chart reveals a potential red flag: while the token has continued setting higher intraday highs, its 14-day relative strength index (RSI)—a popular momentum indicator—has been trending lower.
This negative divergence often indicates fading momentum and can precede a shift toward a bearish reversal in prices.
