Fun

Biggest Movers: SOL 11% Higher, BCH Hits Strongest Point Since July 

News Feed - 2023-02-21 01:02:53

Biggest Movers: SOL 11% Higher, BCH Hits Strongest Point Since July 


Solana rose by as much as 11% to start the week, as the token moved higher for a fourth consecutive session. Market sentiment has mostly been bullish in the past two weeks, leading to prices hitting a multi-month high on Monday. Bitcoin cash also surged, climbing to its strongest level since July. Solana (SOL)


Solana (SOL) rose by over 11% in Monday’s session, as the token raced to a multi-month high earlier in the day.


Following a low of $24.04 on Sunday, SOL/USD surged to an intraday peak of $26.93 to start the week.


As a result of this move, solana climbed to its highest level since November 8, when price hit a high of $31.78. SOL/USD – Daily Chart


This is the fourth straight session that solana has risen, with prices breaking out of a key resistance level of $26.00 in the process.


In addition to this, the 14-day relative strength index (RSI) has moved beyond a ceiling of its own at 62.00.


Currently, the index is tracking at 63.58, and should it continue in this upward direction, SOL could hit $30.00 in the coming days. Bitcoin Cash (BCH)


Another notable gainer on Monday has been bitcoin cash (BCH), which also moved to its highest point in the past several months..


BCH/USD raced to a high of $146.83 earlier in the day, which comes after trading at a bottom of $134.55 on Sunday.


The rally took bitcoin cash to a point not seen since July 31, when the cryptocurrency traded above $150.00. BCH/USD – Daily Chart


This comes as the 10-day (red) moving average nears a crossover with its 25-day (blue) counterpart.


Additionally, the RSI has also moved to a 16-day high, and is tracking at 65.85, which is near a ceiling of 66.00.


Should price strength pass this hurdle, then BCH bulls will likely recapture the $150.00 mark.


Register your email here to get weekly price analysis updates sent to your inbox: Tags in this story Analysis, BCH, bitcoin cash, SOL, Solana


What is behind today’s rally in bitcoin cash? Let us know your thoughts in the comments. Eliman Dambell


Eliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder. Bitcoin, Ethereum Technical Analysis: Bitcoin Hits $25,000, Following Moving Average "Death" Cross MARKET UPDATES | 10 hours ago Biggest Movers: DOT Remains Near Multi-Month High, as LINK Hits 9-Day High MARKET UPDATES | 2 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons, Dennis Diatel / Shutterstock.com Previous articleVenom Foundation and Hub71 Partner to Accelerate Growth and Adoption of Blockchain Technologies from Abu Dhabi Next articleHelium Network Migration to Solana Blockchain in March Drives Significant Gains for SOL and HNT Tokens 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.SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale 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 Economist Predicts the Fed"s Response to Inflation Will Push Crypto Higher

News Feed

dYdX explores sale of derivatives trading arm
Ana Paula Pereira6 hours agodYdX explores sale of derivatives trading armSelini Capital and Wintermute Trading are reportedly bidding on dYdX’s v3. The protocol’s v3 was compromised on July 23.2769 Total views9 Total
Biden resurrects 30% crypto mining tax in new budget proposal
Ezra Reguerra57 minutes agoBiden resurrects 30% crypto mining tax in new budget proposalU.S. Senator Cynthia Lummis said that while this shows that the government is bullish on crypto, a 30% tax would destroy the industr
Gate.io to launch $100M innovation fund with the Blockchain Center in Abu Dhabi
Ezra Reguerra12 hours agoGate.io to launch $100M innovation fund with the Blockchain Center in Abu DhabiThe fund aims to advance decentralized infrastructure and blockchain adoption and support talent from the US, Asia,
Near Protocol Supports Tether USDT, Stablecoin Is Now Hosted on 14 Blockchain Networks
Near Protocol Supports Tether USDT, Stablecoin Is Now Hosted on 14 Blockchain Networks On Monday, the stablecoin issuer Tether Operations Limited announced that the stablecoin teth
US Senators Introduce Crypto Sanctions Bill — Expert Says It’s Overbroad, Unconstitutional
US Senators Introduce Crypto Sanctions Bill — Expert Says It"s Overbroad, Unconstitutional U.S. Senator Elizabeth Warren and 10 other lawmakers have introduced the “Digita
Canadian crypto exchange gambled away $9.5M of users’ Bitcoin and Ether
Arijit Sarkar1 hour agoCanadian crypto exchange gambled away $9.5M of users’ Bitcoin and EtherThe British Columbia Securities Commission reveals how ezBtc’s founder misappropriated millions in customer funds for pers
ARK and 21Shares drop staking plans from Ethereum ETF proposal
Amaka Nwaokocha51 minutes agoARK and 21Shares drop staking plans from Ethereum ETF proposalBloomberg ETF analyst Erich Balchunas suggests the update may be a response to potential SEC feedback despite no official comment
Kevin O’Leary, Bill Ackman Slammed for Defending Sam Bankman-Fried — ‘I Think SBF Is Telling the Truth’
Kevin O"Leary, Bill Ackman Slammed for Defending Sam Bankman-Fried — "I Think SBF Is Telling the Truth" Shark Tank star Kevin O’Leary and billionaire hedge fund manager Bil
Martin Young5 hours agoChainalysis axes another 15% of staff, citing difficult market conditionsThe Chainalysis workforce will be reduced by around 150 as the bear market bites deeper.1390 Total views4 Total sharesListen
Biggest Movers: NEAR Hits 1-Month Low, XMR Down 12%
Biggest Movers: NEAR Hits 1-Month Low, XMR Down 12% NEAR saw recent losses extend on Wednesday, as it fell to a one-month low during today’s session. The decline in NEAR ca
Polymarket users complain of mysterious Google login wallet attacks
Christopher Roark10 hours agoPolymarket users complain of mysterious Google login wallet attacksThe attacker used a “proxy” function to swipe victims’ USDC balances, but only a small number of Google login users ha
Crypto Pundit Dumps Bitcoin Holdings Sub-$100,000, Lists Reasons Why It’s Time To Short
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu