The recent Bitcoin Cash network upgrade has put the BCH price on the map again, while Ethereum Classic (ETC) is on the cusp of a breakout
Bitcoin Cash (BCH) saw a 5% surge in value following a recent network upgrade, putting the cryptocurrency back in the spotlight. The upgrade, which went live on chipnet at block 227,228 on November 15, implemented two Bitcoin Cash Improvement Proposals (CHIPs). These CHIPs were designed to bolster the cryptocurrency’s defenses against denial-of-service attacks and adjust the maximum contract length.
With this surge, over 70% of BCH holders are now in the green. Notably, BCH price has also seen a 19.9% surge over the past month. Currently, the cryptocurrency is trading above $436 with a volume of over $500 million.
According to technical analysis, BCH is holding strong above its 200-day SMA at $266.05. Support levels at $430 remain intact, while resistance at $485 could pose the next challenge for further upward movement.
Meanwhile, Ethereum Classic (ETC) saw a 14.38% surge recently, continuing its uptrend. The cryptocurrency has been showing promising signs of an imminent breakout trend with increased trading activity in the past 30 days. Known for its volatile spikes, ETC could be gearing up for its next explosive rally.
ETC’s RSI is currently at 68, indicating potential for further growth. Interestingly, community sentiment on CoinMarketCap has flipped 81% bullish towards the cryptocurrency. After 17 green days in the past 30 days, price forecasts predict a 108% surge for ETC.
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