Bitcoin Cash (BCH)
If you’re a crypto enthusiast, you’ll be pleased to know that Bitcoin Cash (BCH) has experienced a positive trend in recent days. In today’s session, the cryptocurrency saw a second consecutive day of gains.
Starting the week at a low of $206.86, BCH/USD reached a peak of $213.89 earlier today. This puts it within striking distance of the resistance level at $225, which was last seen on September 18.
An analysis of the chart reveals that the 10-day moving average (red) remains higher than its 25-day counterpart (blue). Additionally, the relative strength index (RSI) has broken through the previous ceiling at 52.00 and is currently tracking at 54.50.
Bulls now have their sights set on a resistance level at 60.00, which would likely push BCH above $225.
BNB
Formerly known as Binance Coin, BNB has also seen significant movement in today’s trading session. The token has experienced gains for two consecutive days.
BNB/USD reached a high of $213.19 earlier today after starting the week at a low of $208.02. It appears that the native token of cryptocurrency exchange Binance is now aiming for a resistance level at $220.
To achieve this, BNB bulls will need to surpass an upcoming resistance point of 47.00 on the RSI indicator. Currently, BNB is at a reading of 44.41 with the token trading slightly lower at $211.74.
Hot Take: Positive Momentum for BCH and BNB
Both Bitcoin Cash (BCH) and BNB have shown positive momentum in today’s trading session. BCH has climbed for a second straight day, approaching the resistance level at $225. BNB, on the other hand, has risen for two consecutive days and is now targeting a ceiling of $220.
For BCH, the moving averages and RSI indicate a bullish trend, while BNB bulls will need to overcome a resistance point on the RSI to reach their target. These developments suggest potential opportunities for investors and traders interested in these cryptocurrencies.
By
By
By
By