As Bitcoin (BTC) hits a new all-time high (ATH) above $96,000, the market is seeing a resurgence of some older crypto tokens. These older coins, including hard forks of Bitcoin, have outperformed the best-performing tokens, indicating growing demand for BTC-related assets despite the emergence of new alternatives.
BeInCrypto has analyzed three of the best-performing legacy tokens, which shows investors are looking to capitalize on the Bitcoin hype.
Bitcoin Cash (BCH)
Bitcoin Cash is up 17.84% over the past day, becoming the best performing token and trading at $527 at the time of writing. The rally has reignited investor interest in the altcoin, increasing optimism that prices will rise further.
The recent rally has taken BCH to a seven-month high, placing it near the $529 resistance level. This key level has not been broken since mid-April, making it an important target for sustained bullish momentum.
If BCH breaks through the $529 resistance, the price could rise to the next barrier at $593. However, failure to overcome this level could result in a fall to $501, with further losses invalidating the bullish outlook.
Bitcoin SV (BSV)
Bitcoin SV is up 11% in the past 24 hours, rising to a seven-month high of $76.67. The altcoin’s rally has reignited investor interest as it leads today’s cryptocurrency market gains.
Marking its first significant rise in over three months, Bitcoin SV is benefiting from BTC’s continued rise to new all-time highs. This momentum has made BSV a top contender in the altcoin market.
To maintain the uptrend, BSV must clear the $77.49 resistance and target $80.00. However, a loss of support at $72.42 could trigger a fall to $65.05, with further declines invalidating the bullish outlook.
BitTorrent (BTT)
The price of BitTorrent increased by 12% today, reaching $0.000001204. While it failed to hit any multi-month highs, the recovery pared recent losses, signaling improving sentiment among investors. An upward trend shows potential for further growth.
The BTT rally in early November almost cleared resistance at $0.000001252. However, its failure provoked a correction. Successfully clearing this barrier is critical for the altcoin to close above $0.000001300 and maintain its upward momentum in the short term.
If BTT experiences another failed hack, its value could undergo further corrections, potentially falling to $0.000001146. Losing this critical support level could cause the altcoin to fall to $0.000001021, undermining bullish expectations.
