Can These Tokens Rise After A Major Drop? NEO, ETC, BCH

Leading smart contract platform Neo has a $930 million market cap. Recently, it was included in Binance Neo’s staking solution. Also the price of Ethereum Classic bottomed out in mid-June, bulls have taken back the initiative. Along with the price of Bitcoin, the Bitcoin Cash cryptocurrency is rising.

The remains of so-called “dead coins,” which were introduced with much fanfare but eventually provided little to no value to anyone, are all over the cryptocurrency sector. As their team cashed out users’ investments and left bagholders to wonder where the value of their portfolio went, these coins typically met an unjust and frequently intentional demise. Many of the earlier crypto currencies falls under such category. Some older coins are still making a comeback, though. Let’s examine some vintage tokens.

Bitcoin Cash (BCH)

Those who are critical of the coin’s ethos and future also refer to Bitcoin Cash as “Bcash” Despite being arguably the most outspoken BCH proponent, Roger Ver has not stopped claiming that BCH is superior than Bitcoin. Ver sparked controversy when it was revealed that he owes cryptocurrency investment platform CoinFLEX $47 million in stablecoin USD Coin (USDC).

Ver disputes the allegations, sparking this week’s ongoing social media uproar. Regardless of the result, it has had a noticeable effect on BCH. BCH/BTC dropped 98.83 percent below its 2017 peak on June 29, reaching a new record low of only 0.005. Let’s take a look at the BCH prices

BCH can reverse course and head back to the crucial support level of $111.40 if it is unable to overcome the $129.0 resistance level. In the medium term, BCH has to break over the $129.0 resistance level in order to turn bullish once more. The price of BCH must remain above the $129.0 resistance level in order to reach the significant resistance level at $148.9.

NEO (NEO)

NEO’s great stance in the Asian markets is its feature challenging to think anything but a success for this trading platform. Its developers continuously update the platform with NEO3. The Onchain technology of NEO was designed from the beginning to be regulation-friendly and have a centralized process that is very distinct from many other cryptocurrencies. Let’s examine the NEO price levels.

NEO just tested the $8.47 support level after breaching the $10.93 resistance level. However, it was unable to go past the significant $13.10 resistance level. The support level of $8.47 can be attained once more. NEO can aim for the significant resistance levels at $13.10 and $15.74 if the bulls get beyond the $10.93 resistance level and close above it.

Ethereum Classic (ETC)

The previous week has seen a significant increase in the price of Ethereum Classic as well. This week, the ETC token has started to climb quickly upward. The announcement of the Merge has recently spurred the bulls in addition to the lift from the bitcoin relief.

When Ethereum switches from Proof-of-Work (PoW) to Proof-of-Stake (PoS) in September, assets like ETC might benefit from it. Notably, as they will only require minimal changes to start mining on Ethereum Classic, ETC has the potential to support transferring Ethereum workers. Let us look at the ETC price levels

Since May 2021, the price of ETC has been falling, and as of right now, it is worth $24.50. It is around 90% less than its all-time high of $167.09. Between the $25.70 weekly resistance level and the $19.35 weekly support level, it is swinging.

Due to the overall bearish picture on higher time frames, the bulls must raise the price over $25.70. It will prevent the bears from lowering it below $19.35. The downtrend will not play out if ETC breaks down below the $25.70 mark. If this level breaks, a rally to $33.12 might be possible. For us to be bullish for the midterm, ETC’s daily or weekly price candle must close above $33.12.

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