The key altcoin to watch out for this week is definitely bitcoin cash (BCHABC). As a statement to disapprove the legal threat of CSW towards the crypto community, Binance has decided to delist BCHSV and most exchanges, including Tokenize Xchange has followed suit.
This has re-positioned BCHABC as the sole owner of bitcoin cash branding and led it to a long-term price recovery.
From the chart, we can see an interesting trade setup,
Where increasing volume is accompanied by price rally. Price is confirmed to trade above daily 200MA, heading to close the gap breakdown during the bitcoin cash fork that took place last year. 400USD will be the first resistance, followed by 600USD area for the next resistance.
This creates huge upside trade for this altcoin where we can aim for an almost 100% ROI upside.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Tokenize Xchange. Every investment and trading move involves risk, you should conduct your own research when making a decision.