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Main hard-fork Bitcoin Money (BCH) has fallen -5%, as worth motion continues to tumble amid tumultuous resistance from the 20DMA – is Bitcoin Money going to zero?
After greater than 60 days of draw back worth motion, BCH bag-holders are in a state of worry as market and media curiosity fleets from the hard-fork project.
In a very dramatic transfer on August 26, CNBC eliminated Bitcoin Money from their cryptocurrency market protection – changing BCH with Solana.
Preliminary hopes of a possible restoration by Bitcoin Money have been scuppered yesterday, after a dramatic -5% rejection from powerful resistance on the 20DMA crushed dealer’s hopes.
BCH Value Evaluation: Is Bitcoin Money Going to Zero?
As worth motion battles to carry consolidation, Bitcoin Money is presently buying and selling at a market price of $189.30 (representing a 24-hour change of -0.73%).
This comes after 60-days of draw back worth motion, which has seen BCH bleed-out -42% since rejection from the upper-trendline at an area excessive of $330.
Worse nonetheless, the descendant 20DMA has fashioned an intense ceiling of resistance that has suppressed BCH for 45 days since July 14.
But, regardless of the intense capstone of resistance, the ultimate two-weeks of August have seen a shift in sentiment – after 12-days of well-defended consolidation above $180 – BCH seems primed to re-test the 20DMA.
Nevertheless, rejection right here may spell catastrophe – with a fall to the 200DMA at $160 a possible outcome.
The RSI stays cooled-off with a big oversold sign at 36.23, indicating that there could possibly be the capability to push up larger.
And that is mirrored with bullish divergence on the MACD at 0.5 – suggesting momentum may see one other run on the 20DMA.
General, all eyes are on the resistance zone across the 20DMA – which threatens to make-or-break worth motion on the short-time body.
To the upside, BCH is concentrating on a clear break above the 20DMA to $210 (a potential +11%).
Whereas draw back threat stays important right here, with rejection from the 20DMA more likely to drive a retracement to the 200DMA at $160 (a possible -15.4%).
This leaves Bitcoin Money with a threat: reward ratio of 0.71, a bad-entry dominated by draw back threat.
However whereas BCH bag-holders stay in worry, good cash have already started rotating capital into an rising meme coin presale that boasts enormous potential returns on the horizon.
Sonik Coin Presale Skyrockets In direction of $700k Raised Forward of Enormous Launch
Sonik Coin ($SONIK), which isn’t solely making waves in crypto markets, but in addition racing – with the audacious objective of being the quickest token to hit the $100 million market cap.
And given the present trajectory, this aspiration could quickly be a actuality – as this rockstar presale has surged to a jaw-dropping +$685,000 raised in lower than every week.
However what has acquired markets so excited concerning the unlikely Sonik coin? The reply is within the APY – let’s dig down into this additional.
Sonik Presale ‘Gotta Go Quick’ as Buyers Flood-in to Declare 209% Staking APY
An intriguing 50% of the mammoth 300 billion $SONIK provide has been allotted for early buyers, making it a limited-time golden alternative.
With every token priced at a meager $0.000014, lovers have the right entry level, particularly earlier than its much-anticipated debut on Uniswap post-presale.
This decentralized trade is a powerhouse, and $SONIK’s presence there’ll undoubtedly amplify its visibility manifold.
However Sonik Coin is extra than simply one other meme coin, the staking APY of an astounding 209% speaks volumes about its potential returns.
Staking not solely provides an avenue for passive revenue, however its inclusion additionally showcases the staff’s dedication to longevity and stability.
The thought? By staking, holders are inspired to carry onto their tokens for extra prolonged intervals, thus mitigating risky worth swings and cementing a agency basis for regular progress.
Sonik Coin Follows in Early Footsteps of PEPE in Pursuit of Viral Success
Now, let’s speak about $PEPE, Pepecoin’s astronomic growth—delivering jaw-dropping returns of over 10,000% to early backers— has set a precedent.
Given $SONIK’s modern staking mannequin and the infectious enthusiasm round its branding (a nod to the ever-popular Sonic the Hedgehog), it is poised for the same, if no more spectacular, trajectory.
The clear, community-centric imaginative and prescient of the Sonik Coin’s founders, paired with its tantalizing staking rewards and the excitement it has already generated, units it aside in a sea of meme cash.
Take a look at the Sonik Telegram and Twitter right here.
If historical past and market patterns inform us something, the early fowl catches the worm. Or on this case, rides the supersonic wave.
Disclaimer: Crypto is a high-risk asset class. This text is offered for informational functions and doesn’t represent funding recommendation. You may lose your entire capital.
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