Biggest Movers: ADA Snaps Losing Streak as BCH Moves to 10-Day High
Cardano ended a two-day losing streak on Monday, as the token moved closer to a two-month high to start the week. Cryptocurrency markets were mostly lower in today’s session, with the global market cap down 0.36% as of writing. Bitcoin cash also climbed, hitting a ten-day high. Cardano (ADA)
Cardano (ADA) snapped a two-day losing streak to start the week, despite the global market cap mostly consolidating on Monday.
Following a low of $0.3729 on Sunday, ADA/USD surged to an intraday high of $0.4035 earlier in today’s session.
Today’s move saw cardano near Friday’s high of $0.4093, which was its highest point since mid-February. ADA/USD – Daily Chart
Looking at the chart, the climb in price coincided with the relative strength index (RSI) moving towards a ceiling of its own at 60.00.
At the time of writing, the index is tracking at 58.91, after moving away from a floor at 56.00.
Should price strength move past the upcoming ceiling at 60.00, then there is a strong chance ADA will recapture a fresh multi-month high. Bitcoin Cash (BCH)
Bitcoin cash (BCH) was another notable gainer to start the week, as the token moved to a ten-day high.
BCH/USD hit a peak of $129.15 on Monday, a day after the price was trading at a low of $120.54.
This rally sent BCH to its strongest point since March 24, when it rose to a peak at $132.05. BCH/USD – Daily Chart
Earlier gains have since slipped, as the RSI collided with a ceiling at the 51.00 mark. Currently the index is tracking at 50.59, following a rally from a support point of 47.00.
Overall, bitcoin cash is now up 5.78% from the same point last week.
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Do you expect bitcoin cash to extend this rally further into the week? Let us know your thoughts in the comments. Eliman Dambell
Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder. Bitcoin, Ethereum Technical Analysis: BTC Consolidates Above $28,000 on Monday MARKET UPDATES | 11 hours ago Biggest Movers: DOGE Hits 9-Day High, as LTC Climbs 6% on Saturday MARKET UPDATES | 2 days ago
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