Bitcoin Cash-Bitcoin Ratio Smashes Triangle Pattern; Buzz Rally May Be Over
The Bitcoin Cash-Bitcoin ratio has broken out of a triangle pattern, signaling a potential shift in momentum. Bitcoin Cash, the best-performing cryptocurrency in the top 100 over the last 24 hours, is showing signs of a bullish run against Bitcoin. The ratio’s move above the 200-day simple moving average suggests a long-term uptrend, with potential resistance levels at 0.00467 and 0.00636. However, a move below 0.00373 could invalidate the bullish outlook.
On the other hand, the decentralized exchange Hyperliquid’s buzz token, HYPE, may be facing a bearish divergence. Despite reaching new intraday highs, the 14-day relative strength indicator is diverging lower, indicating a weakening momentum and a possible trend reversal.
For more detailed analysis, you can refer to the original article here.
