Bitcoin Cash ($BCH), a popular crypto asset, is reportedly displaying indications of an approaching price breakout. As per a renowned crypto analyst “Javon Marks,” $BCH is showing a consistent sequence of higher lows while the volume of the crypto asset is moving toward a significant breakout. The analyst reflected on the current price movement of $BCH and its inclination toward a looming breakout.
$BCH Eyes $1,500 as Critical Price Target Volume Gradually Rises
Javon Marks deems the steady volume growth of $BCH as a crucial factor to trigger a breakout. Based on this gradual surge, the crypto analyst anticipates $1,500 as one of the major price targets. In addition to this immediate price target, Marks has also described $3,750 as the next prominent price target. Over the recent months, $BCH has reportedly been getting substantial momentum. Simultaneously, its price action highlights noteworthy accumulation among long-term investors.
Higher Lows Combine with Volume Surge to Trigger Potential Breakout
The higher lows typically indicate robust buying pressure as well as resilience against price declines. Hence, as the crypto analyst puts it, these higher lows are noteworthy when they occur in combination with rising volume. The current market scenario of $BCH is exactly the same.
Hence, there is a strong possibility for the crypto token to witness a noteworthy upward price trajectory. According to Javon Marks, $1,500 appears as a notable price target because surpassing this level could lead it to the next target at $3,750. Moreover, the steady volume spike increases its potential for a likely breakout.
Source: https://blockchainreporter.net/bch-set-for-massive-breakout-amid-volume-surge/