Biggest Movers: SOL Gains 10%, BCH Hits Fresh 1-Year High
Solana surged 10% on June 29, after it was confirmed that a new cross-chain bridge will allow users easier access to other blockchains. The update from Debridge will reportedly enable solana users to access ethereum’s virtual machine for the first time. Bitcoin cash extended its own gains on Thursday.
Solana (SOL)
Solana (SOL) was a notable mover in today’s session, as the price rose by over 10%.
Following a low of $15.75 during Wednesday’s session, SOL/USD jumped to a peak of $18.20 earlier in the day.
This resulted in the world’s ninth largest cryptocurrency climbing to its highest point in the past 20 days.
As a result of the rally, the 10-day (red) moving average is now on the cusp of an upward crossover with its 25-day (blue) counterpart.
Additionally, the relative strength index (RSI) appears to be nearing a breakout of a resistance point around the 51.00 level.
The index is currently tracking at 50.87, with SOL at $17.35, after giving up earlier gains.
Bitcoin Cash (BCH)
Bitcoin cash (BCH) was in the green on Thursday, racing to a fresh multi-month high in the process.
BCH/USD surged to an intraday high of $247.64 earlier in the day, a day after dropping to a bottom at $223.50.
As a result of this latest rally, BCH moved to its strongest point since May 11 last year, when price peaked at $249.00.
This latest move comes as the RSI once again broke out of a ceiling at the 80.00 level, after dropping below this point the day prior.
Currently, the index is tracking at 81.72, which remains deep in overbought territory, and could prompt bears to reenter the market.
Despite this, traders will likely attempt to reach a target at $250.00 first, before any inevitable sell-offs.
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Will bitcoin cash end the month above or below $250.00? Let us know your thoughts in the comments.
Source: Bitcoin.com
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