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Biggest Movers: BCH, TRX Snap Losing Streak to Start the Weekend

Biggest Movers: #BCH, #TRX Snap Losing Streak to Start the Weekend

Bitcoin cash was one of the big gainers to start the weekend, as the cryptocurrency ended a two-day losing streak. Overall, the momentum in the market was marginally higher, as traders continued to consume the latest U.S. nonfarm payrolls report. TRON also returned to the green on Saturday.

Bitcoin Cash (BCH)

Bitcoin cash (BCH) was a notable mover on Saturday, as the cryptocurrency returned to the green after a recent losing streak.

After falling to a low of $227.13 on Friday, BCH/USD rose by as much as 2%, hitting a high of $234.82 to start the weekend.

The rise in price comes as bulls continued to push the token away from a recent support point, which was at the $225.00 mark.

From the chart, it appears that bulls opted to buy the recent dip, after the relative strength index (RSI) collided with a support point at 56.00

At the time of writing, price strength now resides at 58.60, with a ceiling at 60.00 the next point of resistance.

Bulls will need to surpass this point in order to push bitcoin cash over the $240.00 level, which appears to be the next target for traders.

Tron (TRX)

Tron (TRX) ended a three-day winless run to start the weekend, moving away from a one-week low in the process.

TRX/USD jumped to a peak of $0.08818 earlier in the day, which comes less than 24 hours after trading at a low of $0.08558.

Similar to BCH, today’s rally came after a brief breakout of a key support level, in this instance at $0.08550.

Price strength also edged higher on Saturday, climbing back above a floor at the 58.00 zone, and is now tracking at 58.45.

The next visible area of resistance now looks to be at 61.00, with a more long-term target of 68.00 also in sight.

Should these points be captured in the upcoming days, TRON could be trading above $0.09000.

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What is behind today’s rally in BCH and TRON? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/k45Z7eo
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