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After falling by as much as 10% on Wednesday, bitcoin cash rebounded in today’s session, climbing back above $300.00 in the process. The move came during a volatile market session, which saw crypto’s global market cap remain largely unchanged. Solana was a notable exception however, racing to a one-month peak.
Bitcoin Cash ($BCH)
Bitcoin cash ($BCH) rallied back above $300.00 on Thursday, prior to the global crypto market moving to consolidate.
Following a low of $250.23 on Thursday, $BCH/USD jumped to an intraday peak at $300.85 earlier in the day’s session.
As a result of the rally, price moved to its strongest point since the start of the week, and closer to a recent 15-month high.
Earlier gains have now been erased, with $BCH falling to a current reading at $279.71 as of writing.
One of the catalysts for this is the fact that the relative strength index (RSI) moved closer to a ceiling at 73.00, after bouncing from a floor at 70.00.
The index is now tracking at 71.69, and will likely consolidate around this area for the remainder of the day.
Solana ($SOL)
Solana ($SOL) moved past the $20.00 level earlier in the day, hitting a one-month high in the process.
$SOL/USD surged to an intraday high at $20.32, which comes after falling to a bottom at $18.50 the day prior.
This rally has resulted in the world’s ninth largest cryptocurrency hitting its highest level since June 6.
Since this earlier high, $SOL has since slipped, with bulls unable to sustain a breakout of the $20.00 price point.
This was in part due to the RSI failing to breach its own resistance zone, which was around 61.00.
$SOL’s price strength is now sitting at 57.72, and appears to be heading for a lower floor near the 52.00 area.
coindesk.com
u.today
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