Bitcoin Cash (BCH) and Litecoin (LTC) are showing promising signs of potential price increases, according to recent chart analyses. BCH displays a hidden bullish divergence, suggesting an upside potential.
Meanwhile, LTC breaks above key resistance levels, hinting at a possible trend reversal. Besides, experts have highlighted critical price levels to watch for both assets.
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Bitcoin Cash Displays Hidden Bullish Divergence
JAVONMARKS, a notable crypto analyst, tweeted about Bitcoin Cash’s hidden bullish divergence. He highlighted the strong performance of BCH, pointing out a potential target of $3,745.89.
According to JAVONMARKS, this target could lead to a substantial 683% price increase. He emphasized that the hidden bullish divergence is a crucial factor driving this upward momentum.
Additionally, Sjuul from AltCryptoGems identified a promising setup for BCH. He noted a breakout from a manipulation area, marked by a red box on his chart.
This breakout was followed by a successful retest of a macro support level. Sjuul cautioned traders to avoid chasing green candles and recommended waiting for a dip before entering positions.
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Litecoin Shows Signs of Trend Reversal
Litecoin’s recent price action has also sparked interest. The analysis provided by altFINS_altcoins suggests that LTC, despite being in a downtrend, has broken above the $70 resistance level.
This move could signal a potential trend reversal if the price breaks above the stiff resistance at the 200-day moving average of $79. According to altFINS, Litecoin’s setup indicates that the price is approaching resistance, a level where it might pause or reverse temporarily.
Historically, resistance levels have acted as barriers where prices often get rejected. However, once the price breaks above resistance, it can advance to the next level.
The short-term, medium-term, and long-term trends for LTC remain down, with the nearest support zones at $65.00 and $55.00 and the nearest resistance zone at $80.00.
Both BCH and LTC are at critical junctures, with analysts closely monitoring their technical setups. The strong bullish signals for BCH and the potential trend reversal for LTC indicate that these crypto assets might see price movements soon.
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