Tuesday, 4 April 2023

Biggest Movers: ADA Snaps Losing Streak as BCH Moves to 10-Day High

by Earn Media

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.

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.

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.