Bitcoin Cash (BCH)
Bitcoin cash (BCH) experienced a positive turnaround on Saturday, breaking a streak of losses. After reaching a low of $227.13 on Friday, BCH/USD saw a 2% increase and reached a high of $234.82 over the weekend. This rise in price can be attributed to bullish activity pushing the token away from the support point at $225.00.
The chart indicates that bulls chose to buy during the recent dip, as the relative strength index (RSI) collided with a support point at 56.00. Currently, the price strength stands at 58.60 with resistance expected at 60.00. In order to surpass this resistance, bulls will need to push bitcoin cash above the $240.00 level, which is the next target for traders.
Tron (TRX)
Tron (TRX) broke its three-day losing streak to start the weekend and moved away from its one-week low. TRX/USD reached a peak of $0.08818 earlier in the day after trading as low as $0.08558 less than 24 hours prior. Similar to BCH, this rally occurred after a breakout of a key support level at $0.08550.
On Saturday, price strength increased and climbed back above the 58.00 zone, now tracking at 58.45. The next area of resistance is expected to be at 61.00, with a long-term target of 68.00 also within sight. If these levels are reached in the coming days, TRON could be trading above $0.09000.
Hot Take: Bitcoin Cash and Tron Bounce Back
Bitcoin cash and Tron both experienced positive turnarounds over the weekend. Bitcoin cash broke its losing streak and saw a price increase, while Tron ended its three-day losing streak and moved away from a one-week low. These gains were driven by bullish activity pushing both cryptocurrencies away from key support levels.
Bitcoin cash will need to surpass resistance at $240.00 in order to reach its next target, while Tron’s next visible resistance is at 61.00 with a long-term target of 68.00. If these levels are reached, both cryptocurrencies have the potential for further gains.
By
By
By
By
By
By