Bitcoin (BTC) Shows Rebound Signal with 'Golden Cross'...Pump.fun (PUMP) Aims for 40% Surge

▲ Bitcoin (BTC) Bull Market

While Bitcoin (BTC) held the $64,000 level, Pump.fun (PUMP) and Zcash (ZEC) maintained their gains after rising 13% and 5% respectively the previous day.

According to FXStreet on August 5 (local time), Bitcoin is attempting to break above its 50-day Exponential Moving Average (EMA) of $64,652. As it remains below the 200-day EMA of $73,069, the long-term trend stayed in a bearish zone. If $64,652 is reclaimed, the next resistance level is set at $67,516, the high from June 3.

The daily Relative Strength Index (RSI) was 51, indicating a neutral level. The Moving Average Convergence Divergence (MACD) and signal line were nearing a golden cross, but negative histograms remained, suggesting that buying pressure was not strong. Key support levels on a decline are $60,000 and $58,115, the low from June 25.

Pump.fun surged 13% the previous day and held above its 200-day EMA of $0.002153. The 50-day and 100-day lines showed a golden cross. The RSI entered the overbought zone at 71, and approximately 40% upside potential was suggested towards the December 3 high of $0.003399. Support levels on a decline are $0.002153 and $0.001817.

Zcash rose approximately 5% the previous day and surpassed the $500 level. It also traded above its 50-day EMA of $486 and 200-day EMA of $409. If the 6% rebound near the uptrend line continues, $550 is the first resistance, and upon breaking it, the all-time high of $690 from May 20 is the next target. The RSI rose to 55, and the MACD also approached a golden cross.

[Article Key Summary]

-Bitcoin held the $64,000 level, but needs to surpass $64,652 to challenge $67,516.

-Pump.fun surged 13% the previous day, and approximately 40% additional upside potential to its technical target was suggested.

-Zcash recovered $500, and if it breaks $550, its all-time high of $690 is the next resistance.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*