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The crypto market is rebounding across the board! BCH is hitting 600 USD, CRO has risen for nine consecutive days, and a pump may lead to a strong breakout.
The cryptocurrency market has welcomed a widespread rebound today, with PumpFun (PUMP), Bitcoin Cash (BCH), and Cronos (CRO) becoming the focal points. PUMP continues to rise within an ascending wedge pattern, BCH approaches the significant $600 mark, and CRO has achieved a rare nine consecutive rises. Technical aspects indicate that the buying pressure for the three major tokens is increasing, and a larger rebound may be expected in the short term.
PUMP: Rising Wedge Pattern Ready to Launch
(Source: Trading View)
PUMP has risen by 5% in the last 24 hours, continuing Monday's 10% pump. The 4-hour chart shows that the Token is in an ascending wedge formation.
Key breakout level: If the closing price stabilizes above 0.003776 USD, it will confirm a bullish breakout, with the target possibly pointing directly to the psychological barrier of 0.005000 USD.
Technical indicators: MACD issues a buy signal, green histogram expands, and RSI rises to 60, indicating strengthened buying momentum.
Downside Risk: If the price reverses within the wedge, it may test the support level of 0.003260 USD.
BCH: Aiming for Annual New Highs
(Source: Trading View)
BCH rose 3% today, closing up for the third consecutive day, and breaking through the key resistance level of 590 dollars.
Target for upward movement: If it stabilizes at this price level, it is expected to challenge 604 USD (high point on July 27) and even hit 640 USD (high point last December).
Technical indicators: MACD and signal line are rising in sync, RSI has risen to 61, and there is still room away from the overbought zone.
Downside risk: If it falls below $590, it may test $572 (50-period EMA).
CRO: Nine consecutive pumps with no decrease in momentum
(Source: Trading View)
CRO has risen 2% today, marking nine consecutive days of increase, with a target pointing to $0.18053 (78.6% Fibonacci retracement level).
Technical indicators are favorable: the 100-day and 200-day EMA have formed a golden cross, while the 50-day EMA is also trending upward, indicating a bullish medium to long-term trend.
Momentum Indicators: MACD has once again released a buy signal, RSI is as high as 76, and although it has entered the overbought zone, buying pressure remains strong.
Support Attention: If a pullback occurs, the 61.8% Fibonacci level at $0.14662 may become an important support.
Conclusion
The synchronous strength of BCH, CRO, and PUMP has injected new vitality into the market. BCH is hitting a new annual high, CRO has continued its nine-day rise with strong momentum, and PUMP is accumulating breakout energy in its technical formation. In the short term, if market sentiment continues to warm, the three major tokens may lead a new round of rising trends.