Uniswap was trading over 20% higher in Thursday’s session as the token rose to its highest point since April. In the wake of Tuesday’s Fed rate decision, crypto markets surged. Bitcoin cash hit a six-week high after the news. At the time of writing, global crypto market capital is at 6.51% more.
Uniswap
Uniswap (UNI) was one of Thursday’s notable movers, as the token rose by nearly 30% in today’s session.
Following a low of $6.77 during yesterday’s session, UNI/USD rose to an intraday peak of $8.72 earlier today.
It was the first time the token had risen to its highest point since April 26th when they traded around $9.
Today’s price surge comes as UNI rallied above its recent resistance level of $.7.75, which had been previously held for the last three months.
The price rise is due to the colliding of the 14-day relative strengths index with a resistance level at 69.
Uniswap bulls may continue to build momentum and drive prices up towards $10. But, that could only happen once the ceiling for the relative strength index, (RSI), has been broken.
Bitcoin cash (BCH)
In addition to UNI, bitcoin cash (BCH) was also in the green during today’s session, with prices climbing by over 20%.
BCH/USD soared to an intraday maximum of $147.57 earlier today, just 24 hours after the low price of $117.86.
As of writing, prices were trading over 24% higher than yesterday’s bottom, with BCH at its highest point since June 13.
Similar to uniswap, today’s climb comes as the token broke free of its resistance point, which is at the $132 mark for BCH.
Bitcoin cash’s RSI is at 67.70. It is now its highest reading since April 4th.
This momentum will continue and the BCH bulls could reach the $150 level.
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