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04/03/2023

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Biggest Movers: ADA Snaps Losing Streak as BCH Moves to 10-Day High – Market Updates Bitcoin News

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...

Biggest Movers: ADA Snaps Losing Streak as BCH Moves to 10-Day High – Market Updates Bitcoin News

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.

Biggest Movers: ADA Snaps Losing Streak as BCH Moves to 10-Day High
ADA/USD – Daily Chart

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.

Biggest Movers: ADA Snaps Losing Streak as BCH Moves to 10-Day High
BCH/USD – Daily Chart

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.

Eliman Dambell

Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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