Bitcoin Cash jumped to a new seven-month high on Tuesday as prices rallied, despite rising bearish sentiment. Today’s move comes as the global cryptocurrency market capitalization is trading 1.50% lower at the time of writing. One of the most notable tokens that has fallen has been polygon, which fell for the fourth day in a row.
Bitcoin Cash (BCH)
Bitcoin Cash (BCH) rose to a new multi-month high on Tuesday, despite sentiment in crypto markets turning bearish.
After a minimum of $143.19 to start the week, BCH/USD moved to an intraday high of $152.71 in today’s session.
As a result of this rise, Bitcoin Cash moved to its highest point since July 31, which is the last time the price broke above $150.00.
General, BCH It is up nearly 20% over the past seven days, with today’s gains following a break in the RSI.
Price strength moved past a ceiling at 68.00 and as of this writing is at 69.88.
Despite the next visible top being at 71.00, the previous gains have started to wane, with the bulls opting to lock in the gains.
Polygon (MATIC)
Polygon (MATIC) was one of the big movers last week, however it has now fallen for the fourth session in a row.
MATIC/USD fell to a low of $1.41 on Tuesday, less than a day after the price traded at $1.50.
On Saturday, polygon bulls pushed prices deep into overbought territory by driving the token to its strongest point since last April.
As a result of this overbought, the bears saw this as an opportunity to re-enter the market, sending the RSI from a high of 75.10 to a current reading of 62.70.
The index is now trading marginally above a bottom at 62.00, and if this breaks, the bears could try to extend recent declines.
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Will the range recover from its recent losses this week? Let us know your thoughts in the comments.
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