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April has been a volatile month due to market swings in Bitcoin [BTC] and Ethereum [ETH]. The majority of altcoins were mirroring the market’s dominant trend, with hard forks of Bitcoin, Bitcoin Cash [BCH], and Bitcoin SV [BSV] mirroring the activities of the largest crypto.
Bitcoin Cash [BCH]
The Bitcoin Cash [BCH] map above shows that after the coin’s weekend fell, the commodity was once again falling. However, this decline was caused by a decline in the global crypto industry. Volatility has driven its valuation higher, and it is now trading at $821.
The unexpected surge has pulled BCH out of a bearish market and put it on a bullish course. As market activity rose, the signal line shifted under the candlesticks, signalling an uptrend that has also brought BCH close to the overbought level. The relative strength index emphasised this as its value reached 64.
The bullish BCH price was on its way to the next support level of $848.
Bitcoin SV [BSV]
The Bitcoin SV market was exhibiting a similar pattern to the Bitcoin Cash market. The altcoin rejected opposition at $253 and fell below support at $230. The near-$20 drop was reversed as the BTC price soared.
BSV was trading at $253 at the time of publication, which was also a high resistance. While BSV was under intense buying pressure, the market could be seeing sellers join with equal zeal. This shift in trend was reflected in the relative strength rating, which fell from 65 to 58. Despite a change in trend, the traction in the BSV market has remained strong.
Binance Coin [BNB]
Since last year, Binance’s Binance coin [BNB] has seen tremendous growth. Despite recent drops, BNB has been marching at a higher price of $538, as noted during press time. It was held firm to the support at $521.51 and has been trading above this amount since the rally began.
As it entered the overbought zone and reversed, the asset has been attempting to create equilibrium. As selling pressure intensifies, BNB traders could be able to keep the currency’s value above the support level.