Note: This article does not constitute any investment advice, and the market is risky. Investors are reminded to remain vigilant.
Bitcoin (BTC) recently showed an advantage, soaring from $ 6,900 to the current $ 8,700 in just two weeks. However, it is not only Bitcoin that has risen. The same is true of privacy coins and various fork coins of Bitcoin, even blue. For example, BSV has increased by more than 350% in the past month.
Dash has gained more than 100% in the past 4 days, and ZCash has increased more than 80%. BCH has increased by 54% in the past 10 days, and BSV has reached 300%.
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Dash has the most eye-catching performance in privacy coins
As the most eye-catching privacy coin, Dash has increased by 100% in the past 4 days.
DASH USD 1 day chart. Source: TradingView
Dash's price broke the all-time high of the $ 57 resistance level and began to rebound to the next resistance level.
Since the price was blocked at the $ 87-90 level for a considerable period of time, the next major resistance was found at the current level. Beyond that, as we said, RSI is in a critical area, which means that this architectural peak faces potential corrections.
DASH BTC 1-day chart. Source: TradingView
In recent weeks, Dash has shown a similar trend for BTC trading prices. The price of Dash broke through a significant resistance of 0.0075 and continues to rise. Currently, it is heading towards the next large-scale resistance with similar RSI levels, which means it is necessary to retest lower levels.
Zcash follows Dash
It's not just Dash that is eye-catching in privacy coins. ZCash is also outstanding and has performed similar trends.
ZEC USD 2 Day Chart. Source: TradingView
Zcash broke through significant resistance near $ 33 and started to rebound. ZEC has not seen such a large-scale pin for a long time.
Currently, Zcash is approaching the next resistance level near $ 45, which is interesting to see how prices react at that level.
ZEC BTC 1-day chart. Source: TradingView
Zcash also shows strong upward momentum for BTC trading prices, and as we said, BTC faces resistance. The 0.005 satoshis area is an important breakout area and seems to be the next resistance to the current breakout.
However, push in and open the space until 0.0075 satoshis. If Zcash cannot be broken down here, we are likely to use 0.0047 satoshis as the first support.
Monero is the next follower?
The only privacy coin that has not followed the market is Monero (XMR).
XMR USD 1 day chart. Source: TradingView
As Monero's price broke the 7-month downtrend, Monero showed some strong signs. In addition, the $ 55 level was successfully breached.
As long as Monero remains in the $ 55 area as support, it may continue to move closer to $ 100.
XMR BTC 1-day chart. Source: TradingView
Interestingly, XMR does not show the same strength for Bitcoin trading pairs. XMR for Bitcoin price was rejected at 0.00765 satoshis and is currently seeking new support. The most critical level to observe is the 0.0068 satoshis level.
If the 0.0068 satoshis level is flipped as a support level, the price of XMR will again target the resistance area around 0.00765 satoshis. Another test may lead to an upward break. If XMR breaks through the 0.00765 satoshis area, it will rebound to 0.01 or 0.012.
Bitcoin's fork is moving
Privacy coins show strong upward momentum. However, in recent times, the Bitcoin fork has shown similar behavior. In the past two weeks, Bitcoin Cash (BCH) has surged 80%, but this is far worse than BSV, which has increased by more than 300% in the past month.
BCH USD 1 Day Chart. Source: TradingView
Before breaking through this important resistance, BCH has been hovering around $ 270. Target prices are $ 325 and $ 360, respectively.
It is interesting to see if the daily time period can close above $ 325. If prices can do this, they are ready for a new rebound towards higher targets.
BCH BTC 1-day chart. Source: TradingView
The BCH-to-BTC price display broke the 6-month historical range. The price of BCH moved towards the next resistance area of 0.038, as we said. Retesting the 0.033 zone will give new support / resistance rollovers, which is needed to continue further upwards.
BSV rose over 300%
BSV USD 1 day chart. Source: TradingView
BSV's US dollar chart seems to give a glimpse of what was once the most brilliant moment in the cryptocurrency market, surging more than 300% in less than a month. As of press time, BSV prices are at
Currently, BSV has broken highs since last summer and is making huge efforts. If prices close above historical highs, they may continue. However, if the daily time period cannot be closed above the zone, we may see a correction towards $ 175 or $ 235.
BSV BTC 1-day chart. Source: TradingView
The BSV-to-BTC price chart shows a similar structure and is currently breaking its all-time high.
First, the price broke through the resistance of 0.016 satoshis, flipped 0.0188 satoshis as support, and rushed to highs of 0.028 and 0.03 satoshis.
The pullback does not imply a future recession, and in the longer term, we will first focus on the levels of 0.03 and 0.027 satoshis.
Is the altcoin season coming?
SludgeFeed published an analysis article today saying that Bitcoin (BTC) has soared by more than 20% from this year, and now the main altcoins have started to join the rally. Although BTC rose 8.6% in the trading on the 14th, Ethereum (ETH), Litecoin (LTC), XRP (XRP) and EOS (EOS) all rose by more than 10%. Bitcoin Cash (BCH) has risen by more than 30%, while Bitcoin SV (BSV) has risen by an astonishing 137%, bringing these two tokens into the top 5 cryptocurrencies. This round of events raises questions about whether the "altcoin season" has begun. In the recent rally, altcoins are actually bullish on Bitcoin, which means that the US dollar pair has brought higher returns for the first time in months.
Overall, altcoins have shown continued strong bullish momentum. Nevertheless, Bitcoin and Ethereum have not created higher high prices, and other altcoins are immediately following this high price. Until then, please enjoy these quotes!