Biggest Movers: UNI, BCH Surge by Over 20%, Hitting Multi-Month Highs
Uniswap was trading over 20% higher in Thursday’s session as the token rose to its highest point since April. This comes as crypto markets surged on Tuesday, in the aftermath of the Fed rate decision. Bitcoin cash moved to a six week high on the news. The global crypto market cap is 6.51% higher as of writing. Uniswap (UNI)
Uniswap (UNI) was one of Thursday’s notable movers, as the token rose by nearly 30% in today’s session.
Following a low of $6.77 during yesterday’s session, UNI/USD rose to an intraday peak of $8.72 earlier today.
The move saw the token hit its highest level since April 26, when prices were trading around the $9 mark. UNI/USD – Daily Chart
Today’s price surge comes as UNI rallied above its recent resistance level of $.7.75, which had been previously held for the last three months.
This rise in price comes as the 14-day relative strength index collided with a resistance level of its own at 69.
Uniswap bulls will likely look to maintain their current momentum, and push prices towards $10, however, this may only occur once the ceiling on the relative strength index (RSI) is broken. Bitcoin cash (BCH)
In addition to UNI, bitcoin cash (BCH) was also in the green during today’s session, with prices climbing by over 20%.
BCH/USD surged to an intraday peak of $147.57 earlier in the day, which comes less than 24-hours after prices were trading at a low of $117.86.
As of writing, prices were trading over 24% higher than yesterday’s bottom, with BCH at its highest point since June 13. BCH/USD – Daily Chart
Similar to uniswap, today’s climb comes as the token broke free of its resistance point, which is at the $132 mark for BCH.
The RSI for bitcoin cash is currently tracking at 67.70, which is its highest reading since April 4, and comes after price strength rose above a resistance level of its own.
Should this momentum continue, the next target for BCH bulls will likely be beyond the $150 point.
Register your email here to get weekly price analysis updates sent to your inbox: Tags in this story Analysis, BCH, bitcoin cash, UNI, uniswap
Could bitcoin cash climb to as high as $160 this week? Let us know your thoughts in the comments. Eliman Dambell
Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: BTC Surges by $2,000, Climbing Above $23,000 as Fed Hikes Bank Rate MARKET UPDATES | 11 hours ago Biggest Movers: ETC Nears 10-Week High, as TRX Extends Recent Gains MARKET UPDATES | 1 day ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleDespite the White House Debate, Critics Insist US Officially in a Recession After 2 Consecutive Quarters of Negative GDP Growth Next articleSango – The First Digital Monetary System Built on Bitcoin Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItFollowing a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days
Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments UAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse Privacy-Centric Monero Plans for July Hard Fork, Plans Include Ring Signature, Bulletproof Upgrade FBI Issues Alert Concerning Malicious State-Sponsored North Korean Hackers Targeting Crypto Firms