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Biggest Movers: BCH 5% Higher, as BNB Nears Key Price Target

Biggest Movers: BCH 5% Higher, as BNB Nears Key Price Target

Bitcoin cash rose by as much as 5% on Tuesday, as bulls extended recent gains following last week’s consolidation. The token rose for a second consecutive session, moving closer to a resistance level of $225 in the process. BNB also climbed, pushing towards a ceiling of its own at $220.

Bitcoin Cash (BCH)

Bitcoin cash (BCH) was a notable gainer in today’s session, as the cryptocurrency climbed for a second straight day.

Following a low of $206.86 to start the week, BCH/USD peaked at $213.89 earlier in today’s session.

The move saw bitcoin cash close in on a resistance level of $225, which was last reached on September 18.

Looking at the chart, the move comes as the 10-day (red) moving average remained above its 25-day (blue) counterpart.

Additionally, the relative strength index (RSI) has broken out of a ceiling at 52.00, and is now tracking at 54.50.

A point of resistance at 60.00 now seems to be the next target for bulls, and if hit, BCH will more than likely be above $225.

BNB

BNB, formerly binance coin, was another big mover on Tuesday, as the token rose for a back-back session.

BNB/USD reached a high of $213.19 earlier in the day, after starting the week at a low of $208.02.

Overall, the native token of cryptocurrency exchange Binance now seems to be pushing for a ceiling of $220.

In order to reach this, BNB bulls will need to surpass an upcoming resistance point of 47.00 on the RSI indicator.

At the time of writing, BNB is now at a reading of 44.41, with the token trading marginally lower at $211.74.

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Could BNB reach $220.00 this week? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/YfLbnDp
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