Altcoin Momentum Builds as Algorand and Bitcoin Cash Break Key Resistance Levels

Altcoins seem ready to heat back up after a brief cool-off over the weekend. Two altcoins that gained in value at the start of the week and warrant tracking this week are Algorand (ALGO) and Bitcoin Cash (BCH). Both secured a bullish 4% rally and now stabilized at key levels. Breaking channel structures and supporting on-chain metrics indicate that the momentum may not be complete. As investor attention turns from large caps to the mid-tier, ALGO and BCH are proving to build a compelling narrative for continuation rallies. ALGO is breaking out of a falling wedge, and BCH is seeing record network activity and interest, which should maintain the upward trajectory if supply struggles to keep up with demand.

Algorand Holds Steady With Bullish Signs Ahead

Algorand forecast models suggest the token may have more room to rise. After months of sluggish movement, ALGO has broken above a falling wedge pattern, a formation often associated with a bullish reversal. This breakout began early in the week and has now brought the token to trade around the $0.22 mark. 

The next key support for ALGO lies near $0.21. If it holds, a 22% rally could push the price up to retest the weekly resistance zone at $0.27. This makes ALGO one of the Altcoins to watch, especially with on-chain data echoing this bullish bias. Technical indicators support this outlook. The Relative Strength Index (RSI) has climbed to 64, comfortably above the neutral 50 mark, indicating growing buyer strength. In addition, the Moving Average Convergence Divergence (MACD) has displayed a bullish crossover, which often signals a continued uptrend.

What Does the Long-to-Short Ratio Say About ALGO Sentiment?

Clearly, traders are increasingly optimistic about ALGO. The ALGO long-to-short ratio at Coinglass is now at 1.07, the highest level in over a month. A long-to-short ratio above 1 indicates that more traders are betting long rather than short, validating the bullish momentum. The upside action in long positions also suggests that the market might be on the same page as the Algorand forecast for a rally. Unless buying pressure is stronger than selling pressure, ALGO should keep going up in the next period.

Chart 1 – ALGO/USDT Live Price, published on Trading View, April 29, 2025. 

Will Bitcoin Cash Sustain Its Rally? Why BCH Is Heating Up

Bitcoin Cash rally watchers are paying close attention this week, as BCH shows strong technical and on-chain signals. After breaking above a descending trendline on April 16 and retesting it successfully, BCH began climbing steadily. Over the last eight days, the token surged over 15%, with an additional 5.3% spike seen on Monday.

Currently hovering around $368, Bitcoin Cash is eyeing a critical breakout level at $390.5. If BCH can close above this level on the daily chart, analysts expect a potential 17% rally that could push prices toward the next resistance at $459.20. Like ALGO, BCH’s RSI is also sitting above 60, reflecting healthy bullish momentum. The MACD indicator confirms this outlook with a bullish crossover, hinting that buyers are still in control of the trend.

Chart 2 – BCH/USDT Live Price, published on Trading View, April 29th, 2025. 

Is BCH’s Network Activity Signaling a Breakout?

Outside of charts and candles, BCH’s on-chain activity is gaining centre stage. Data from Santiment reveals that Bitcoin Cash’s Daily Active Addresses reached an all-time high of 4.13 million. This jump in blockchain activity indicates increased demand for BCH’s network, which is a bullish signal for price strength into the future.

Rising network usage is often an early sign of renewed investor interest and long-term sustainability. With such high levels of activity, BCH has firmly positioned itself among the top Altcoins to watch this week. The combination of rising network metrics and a strong Bitcoin Cash rally setup could pave the way for further upside, especially if momentum continues across the broader altcoin market.

Are ALGO and BCH Ready for Double-Digit Gains?

Both ALGO and BCH are exhibiting technical breakouts and strong bullish indicators, making them key Altcoins to watch in the short term. ALGO’s falling wedge breakout and rising long-to-short ratio highlight growing market confidence, while BCH’s surging address activity and trendline break point to sustained demand. As altcoin momentum builds, these assets offer compelling setups that traders and investors shouldn’t ignore. Whether you’re watching charts or tracking on-chain data, the signs are clear, ALGO and BCH may be on the verge of another breakout.