As Bitcoin (BTC) broke through a new all-time high (ATH) of $98,000, the market has witnessed the revival of some old cryptocurrency tokens. These legacy coins, including Bitcoin forks, have outperformed top-performing tokens, indicating an increasing demand for BTC-related assets despite the emergence of new alternatives.
BeInCrypto has analyzed three of the best-performing legacy tokens that investors are looking to capitalize on the high interest in Bitcoin.
Bitcoin Cash (BCH)
Bitcoin Cash has emerged as the top-performing token, surging 17.84% in the past day and trading at $527 at the time of writing. This rally has reignited investors' interest in altcoins, raising optimism for further price appreciation.
The recent rally has propelled BCH to its highest level in 7 months, positioning it near the $529 resistance level, which has not been breached since mid-April. This crucial level has become an important target for sustaining the upward momentum.
If BCH manages to break above the $529 resistance, the price could rise to the next barrier at $593. However, failure to breach this level could lead to a pullback to $501, and further losses could invalidate the bullish outlook.
Bitcoin SV (BSV)
Bitcoin SV has surged 11% in the past 24 hours, reaching a 7-month high of $76.67. The altcoin's rally has led the cryptocurrency market's upswing today, reigniting investors' interest.
Recording its first significant rally in 3 months, Bitcoin SV is benefiting from BTC's continued all-time high ascent. This momentum has positioned BSV as a top contender in the altcoin market.
To maintain the uptrend, BSV needs to break above the $77.49 resistance and target $80.00. However, losing the $72.42 support could lead to a drop to $65.05, and further declines could invalidate the bullish outlook.
BitTorrent (BTT)
BitTorrent price has risen 12% today, reaching $0.000001204. Although it has not yet reached multi-month highs, the recovery has mitigated recent losses, suggesting improved investor sentiment. The upward momentum indicates potential for further growth.
BTT's early November rally nearly breached the $0.000001252 resistance, but a failure led to a correction. Successfully breaking this barrier is crucial for the altcoin to close above $0.000001300 and maintain a short-term uptrend.
If BTT experiences another breakout failure, it could undergo further correction and drop to $0.000001146. Losing this crucial support level could see the altcoin decline to $0.000001021, undermining the bullish expectations.
