UNI, BCH Rise Over 20%, Reach Multi-Month Highs – Market Update Bitcoin News


Uniswap traded 20% higher in the Thursday session as the coin surged to its highest point since April. This comes as the cryptocurrency markets rose on Tuesday, in the wake of the Federal Reserve’s interest rate decision. Bitcoin Cash moved to a six-week high in the news. The global cryptocurrency market cap is up 6.51% at the time of writing.

Uniswap (UNI)

Uniswap (UNI) was a major mover on Thursday, with the coin up nearly 30% in today’s session.

After a low of $6.77 during yesterday’s session, the UNI/USD index rose to an intraday high of $8.72 earlier today.

The move saw the coin reach its highest level since April 26, when prices were trading around the $9 mark.

Biggest movers: UNI, BCH Surge over 20%, hitting multi-month highs
UNI/USD – daily chart

Today’s price rally comes as the UNI Index rose above the recent resistance level at $0.7.75, which was previously flat for the past three months.

This rally in price comes as the 14-day RSI hit its own resistance level at 69.

Uniswap bulls are likely to seek to maintain their current momentum, pushing prices towards $10, however, this may only happen once the RSI ceiling is broken.

Bitcoin Cash (Biosafety Clearing-House)

In addition to UNI, Bitcoin Cash (BCH).Biosafety Clearing-House) is also in the green during today’s session, with prices up more than 20%.

Biosafety Clearing-HouseThe US dollar rose to an intraday high of $147.57 earlier in the day, which comes less than 24 hours after prices traded as low as $117.86.

As of this writing, prices are trading 24% higher than yesterday’s low, with Biosafety Clearing-House At its highest point since June 13.

Biosafety Clearing-House/ USD – daily chart

Similar to uniswap, today’s rally comes as the coin broke free from its resistance point, which is at the $132 level for Biosafety Clearing-House.

Bitcoin Cash’s RSI is currently tracking at 67.70, the highest reading since April 4, and comes after price strength rose above its own resistance level.

If this momentum continues, the next target for Biosafety Clearing-House The bulls are likely to cross the $150 point.

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Could Bitcoin Cash Hit $160 This Week? Let us know your thoughts in the comments.

Eleman Dambel

Eliman offers an eclectic view of market analysis, having worked as a brokerage manager, retail trading educator and market commentator on Crypto, Stocks, and FX.




photo credits: Shutterstock, Pixabay, Wikicommons

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