As anticipation builds for a potential Bitcoin bull run, Bitcoin beta plays like Bitcoin Cash are seeing significant gains, with its price up 11.25% month-on-month.
This article will provide an analysis of BCH’s current price trends and look to see whether an innovative new meme coin, Pepe Unchained, represents a more promising investment opportunity at this time.
$BCH tf: W
higher degree wave count suggests a triangle formation, looking for an upward breakout soon
big target? previous all-time high around 4300.00#BCH #BitcoinCash #CryptoAnalysis #crypto #ta #crypto_trading pic.twitter.com/1GNsaCo34U
— Ivan Peychev (@ivanitrust) July 30, 2024
Sentiment amongst traders on Crypto X remains bullish, with holders anticipating a serious upside move to an all-time high above $4,000 over the coming months, according to Wave Theory analysis.
BCH Price Analysis: Is Bitcoin Cash on The Verge of A Monster Pump?
As price action cools off from a recent bullish push, Bitcoin Cash is currently trading at a market price of $438 (representing a 24-hour change of -0.96%).
This comes as localized retracement amid a multi-day bounce, which has seen BCH price launch from support at the 20DMA (sat at $386) to consolidate below the next resistance level at $470.
This upside move has cemented bullish poise, and the technical structure is acutely bullish as BCH holders anticipate a shift into the upper side of the well-established trading channel.
Such a move could see BCH price targeting as high as $529 – a level that has capstoned price action since April 12.
Meanwhile, a glance at the RSI reveals that Bitcoin Cash price could benefit from holding current levels into the weekend, with a strong consolidation here increasing upside capacity on the inevitable upside resistance test.
Overall, in the short-time frame, this leaves BCH price targeting a push to $475 (a potential +8.8%).
While downside risk could see BCH price tumble down to support at $392 (a possible -10.2%).
This leaves Bitcoin Cash price analysis with a risk: reward ratio of 0.86 – a bad entry that could benefit from further consolidation. It suggests it’s worth awaiting a better entry later in the week.
But while Bitcoin Cash holders await another push-up, over in the meme coin arena, a new Pepecoin is causing a stir as retail investors flock to its unhinged upside potential.
PEPU Is PEPE 2.0, And You Haven’t Even Heard of It (Yet)
The meme coin market is volatile, but it’s also a hive of innovation that offers some of the most strategic growth plays in the entire crypto space.
As we head into August, one of the most promising projects emerging in the summer market is Pepe Unchained.
But this project is so much more than a classic Pepe frog meme – this is about redoing the now legendary Pepecoin – but right.
What’s the problem with Pepecoin? The answer is simple: in an age of high-octane Solana markets – Ethereum is the old chain – it’s slow, it’s expensive, it’s clunky – it’s not cool.
Yet, with PEPE originally launching as an ERC-20 token, this has stifled the development of a true PEPE ecosystem.
Luckily, PEPU is here to change the game – with the launch of a high-speed, low-cost layer-2 bespoke made for meme coin developers to expand on the original token.
In this light, PEPU can be seen as PEPE 2.0 – the same original coin – but better.
So don’t miss out on this alright $8M+ skyrocket presale.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
