- Bitcoin Cash (BCH) has broken through the $220 resistance and is trying to reclaim $330.
- Maker (MKR) has reached a new yearly high of $1,500 after breaking out above $1,250.
- Terra Classic (LUNC) has entered a price rebound after hitting support at $0.000056.
- PEPE has shown itself to be one of the most consistently bullish cryptocurrencies on the market over the last few weeks.
- The cryptocurrency market appears to be showing signs of great strength.
The bulls appear to be putting up a fight today, with the global crypto market cap sitting somewhere around $1.05 trillion, and the 24-hour trading volumes rallying by 21% to $26.8 billion at the time of writing (as per CoinMarketCap data)
The DeFi market is also showing signs of upside movement, according to data from Coingecko, with a $43.5 billion TVL value.
Bitcoin, the flagship cryptocurrency is holding steady above $26,300 and has resisted any bearish pressure, trying to push prices lower for days on end.
In all, the market appears to be showing signs of great strength, and four cryptocurrencies in particular are leading the charge.
1. Crypto: Bitcoin Cash (BCH)
Bitcoin Cash (BCH) has been on a tear lately, consolidating its gains above $210 and has pumped 6.8% over the past day, according to CoinMarketCap.
Bitcoin Cash has now finally broken through the $220 resistance, which has been a thorn in the side of the bulls as of late.
This presents some very interesting prospects for BCH because if a decisive break above $220 happens, we might finally see a consolidation, followed by a more explosive move to the upside, as BCH tries again to reclaim $330.
The RSI on the daily chart is trending towards the overbought zone, indicating that the consolidation phase on BCH may be slightly longer as all metrics normalize.
Overall, BCH looks steady and boasts a lot of upside potential.
2. Maker (MKR)
Maker (MKR) has been one of the hottest cryptocurrencies of 2023, reaching a new yearly high of $1,500 on 26 September.
Maker achieved this milestone after breaking out above $1,250 on 25 September which had remained unbroken for over a year.
On 25 September, MKR also managed to close above the $1,250 resistance despite being under it for more than a year.
This means that Maker now has every reason to continue going up, as long as the bears do not force it into a revisit of sub-$1,250 price levels.
3. Terra Classic (LUNC)
Despite everything Terra Classic has been through since 2022, it continues to have its good days.
CoinMarketCap data shows that the cryptocurrency is registering a 4% gain over the last day, and an impressive 12% price increase over the last week.
The rest of the cryptocurrency market was bullish for a while at the start of the year, before experiencing downturns as the months rolled by.
LUNC, however, was the exception to this rule, as it has been bearish throughout the year.
However, after hitting support at $0.000056 recently, LUNC appears to have entered a price rebound.
If $0.000056 turns out to be the cryptocurrency’s yearly bottom, we might see LUNC continue to rally through the rest of 2023 (maybe to $0.000133 again), as we usher in a new year.
4. PEPE (PEPE)
Despite falling by almost 85% from its all-time high of $0.000004354in less than three months after launch, PEPE has shown itself to be one of the most consistently bullish cryptocurrencies on the market over the last few weeks.
CoinMarketCap data shows that PEPE is trading at a daily gain of about $5.74, and is up by an astonishing 18.65% over the last week.
PEPE crashed under its 20-day EMA sometime in August, and then under the the $0.00000079 support on 1 September.
Ever since then, the cryptocurrency has bounced off the $0.0000006 support and has now retaken its 20-day EMA.
As it stands, PEPE now faces the $0.00000079 resistance again and is aiming for a breakout from this zone.
If we see a PEPE breakout from this zone, we may see a price rally on PEPE, that takes it straight up by 45% to the $0.000001 zone, or even higher.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.