The post Bitcoin Forks, BCH & BSV Propel as Bitcoin Price Consolidated Within a Narrow Range—A 15% Upswing Seems Imminent appeared first on Coinpedia Fintech News
The Bitcoin price is stuck above $94,000 and this sustained behaviour has paved the way for the altcoins to grow. Interestingly, the trader’s attention has shifted from BTC to its forks and as a result, the prices of BitcoinCash (BCH) & Bitcoin SV (BSV) have begun to rise consistently. While BSV price has surged over 15%, BCH price is trying to follow the trend with an over 3% jump. However, these rises suggest a significant ascending trend could materialise soon.
Bitcoin SV (BSV) Price Analysis
Bitcoin SV has been rising consistently after rebounding from the July 2024 lows close to $30 and after rebounding from the interim lows below $50, the rally has ignited a strong rebound. The rebound was backed by a massive influx of buying pressure as the volume surged 10 times, by over 800% from $50 million to $500 million in just a few hours. With this, BSV price has become the top performer, but will the rally fight the bearish heat?
As seen in the above chart, the BSV price has been surging within a rising, expanding channel and has rebounded from its lower support since July 2024. With this, the token has positioned itself within the 50-day and 200-day MA, acting as strong resistance & support. On the other hand, the conversion & base lines of Ichimoku have undergone a bullish crossover, suggesting the start of a bullish trend. Additionally, the supertrend has turned bullish and the OBV has displayed a bullish divergence. Also, the volume has surged at frequent intervals, which suggests the traders are vigilant about the price action.
Therefore, the Bitcoin SV price is expected to maintain a decent upswing and rise above immediate resistance at $68.46, which may revive hopes of entering the zone between $71.16 and $72.89. This could revive a rise toward the upper resistance of the channel above $95, gaining a 3-digit figure.
BitcoinCash (BCH) Price Analysis
BitcoinCash has entered the top 20 crypto assets after the recent rise in its value and volume, which increased by 50%. Despite this, the value of the crypto remains below the levels it started the 2025 trade, indicating there is more room for the token to swell. Therefore, BCH’s price is more likely to double top this cycle at around $1200 if this trade plays out well.
The BCH price is stuck within a narrow range, with the levels trading within an upper and lower level. As a result, the Bollinger bands have squeezed and may continue to maintain a parallel consolidation. This suggests the bulls and bears remain vigilant and exert the required pressure at the right time. Secondly, the RSI seems to be following a trend since before of maintaining a consolidated trend along the rising trend line to reach the upper threshold. Currently, the levels have rebounded from the lower threshold and are expected to possess a similar trend.
Therefore, the BitcoinCash (BCH) price is believed to attract some liquidity, which may help the rally to remain elevated. However, following a horizontal consolidation, the BCH price could eventually trigger a healthy rise towards interim highs at $600.
