Are Bitcoin Cash, Compound, and Zilliqa Poised for a Comeback? Find Out Now!
In previous bull markets, including the most recent one, Bitcoin Cash (BCH), Compound (COMP), and Zilliqa (ZIL) were popular cryptocurrencies. Do you still own any of these? What are the possibilities for a revival as we approach the later stages of this current bull market?
Series of lower highs for $BCH
As an analyst looking back, during the peak of the 2017 bull market, Bitcoin Cash (BCH), a spin-off from the Bitcoin blockchain, was trading at a staggering $4,300. Exiting the subsequent bear market, the price of Bitcoin Cash reached a commendable $1,642 during the height of the 2021 bull run.
Looking at the current bull market, Bitcoin Cash ($BCH) has made two attempts to reach $720 and then $640. However, with the weekly stochastic RSI indicators reaching the top and poised to cross down, there’s a possibility that the significant horizontal support level of $384 might not be strong enough to prevent further price drops.
This currency based on cryptography is in its final stages, and although it’s possible that a surge in the value of Bitcoin to unprecedented levels might elevate the worth of all digital currencies, Bitcoin Cash could be a questionable investment compared to many other promising altcoin alternatives.
Series of higher highs for $COMP
Defending its position, the supporters of $COMP have consistently established higher peaks since the inception of this bull market. The latest surge represented a 250% increase from base to peak. However, the current upsurge seems to be lacking, and the Stochastic RSI indicators on the weekly chart are approaching the top without much activity from the bulls.
Regardless of other altcoins, a surge in Bitcoin can swiftly impact their fortunes positively. Yet, it’s important to note that $COMP might not be one of the coins experiencing the most significant gains during such an upswing.
$ZIL weekly chart looks desperate
The Zilliqa chart shows a bleak picture, with no new highs reached locally since early 2024, and it appears unlikely that this trend will reverse soon. Additionally, the Stochastic RSI on the weekly scale is preparing to drop below, while the price of $ZIL remains within the significant bottom support level.
Short-term gains possible, but long term holds extremely risky
Considering the various cryptocurrencies we’ve discussed, there’s a possibility, akin to a long shot in boxing, that any one or even all of them could potentially triple or quadruple in value from their current position. But it’s crucial to remember this might only be suitable for short-term investments and carries a high degree of risk.
As a researcher, I firmly believe that for the long haul, these cryptocurrencies might not be viable investments due to potential extinction. Regardless of their survival, one must ponder why one would continue to hold them when there are significantly superior or more innovative technology-based assets available in the market.
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2025-05-20 18:36