UNI, BCH Rises Over 20%, Hits Multi-Month Highs – Market Updates Bitcoin News
Uniswap traded over 20% higher in Thursday’s session as the token rose to its highest point since April. This comes as crypto markets rallied on Tuesday, in the wake of the Fed rate decision. Bitcoin cash moved to a six-week high on the news. The global crypto market capitalization is 6.51% higher at the time of writing.
Uniswap (UNI)
Uniswap (UNI) was one of Thursday’s notable movers, as the token surged nearly 30% in today’s session.
Following a low of $6.77 during yesterday’s session, UNI/USD rose to an intraday high 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.
Today’s price gain comes as UNI rose above its recent resistance level of $.7.75, which had previously been held for the past three months.
This price advance comes as the 14-day relative strength index collided with a separate resistance level of 69.
Uniswap bulls will likely look to maintain their current momentum, pushing prices towards $10, but this can only happen once the ceiling of the Relative Strength Index (RSI) is breached.
Bitcoin Cash (BCH)
In addition to UNI, bitcoin cash (BCH) was also in the green during today’s session, with prices climbing over 20%.
BCH/USD surged to an intraday high of $147.57 earlier in the day, which comes less than 24 hours after prices traded to a low of $117.86.
At the time of writing, prices were trading over 24% higher than yesterday’s bottom, with BCH at its highest point since June 13.
Like the unswap, today’s rise comes as the token broke the resistance point, which is at the $132 mark for BCH.
The bitcoin cash RSI is currently tracking at 67.70, which is the highest reading since April 4, and comes after price strength rose above a separate resistance level.
Should this momentum continue, the next target for BCH bulls will likely be above the $150 point.
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Could bitcoin cash rise to as high as $160 this week? Let us know your thoughts in the comments.
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