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