Bitcoin Cash (BCH)
Bitcoin cash (BCH) saw a notable gain on Wednesday, with the price trading above $200. The cryptocurrency reached a high of $227.03, breaking out of a resistance level at $225.00. However, the gains have since eased, and the price is now below the resistance level again. If the bulls can orchestrate a breakout, BCH could surpass $240.00.
Main Breakdowns:
- BCH/USD peaked at $227.03 and hit a two-week high.
- The price broke out of a resistance level at $225.00.
- Earlier gains have eased, and the cryptocurrency is trading below the resistance level.
- The 14-day RSI collided with its resistance level at 60.00.
- A breakout could potentially push BCH above $240.00.
Toncoin (TON)
Toncoin (TON) has seen a considerable surge for the second consecutive session, with gains of over 12% today. The cryptocurrency rallied from a low of $1.52 to an intraday peak of $1.75. This is the highest point since June 5, when the price reached $1.77. However, with a reading of 75.38, price strength is now indicating an upcoming reversal as TON is highly overbought.
Main Breakdowns:
- TON/USD surged over 12% in the second consecutive session.
- The cryptocurrency reached an intraday peak of $1.75.
- Price strength is now at a reading of 75.38.
- Many expect an upcoming reversal due to TON being highly overbought.
Hot Take
Bitcoin Cash (BCH) experienced a notable gain but has since eased, while Toncoin (TON) surged considerably but is now showing signs of an upcoming reversal. The cryptocurrency market remains highly volatile, and it’s important to closely monitor price movements and market indicators before making any investment decisions.
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