WAVES fell to a one-month low during Wednesday’s trading session, as prices dropped for a second consecutive session. BCH rose by more than 10% during hump day, reaching a 5-day high. The crypto market cap has risen to 1.17% as of the writing.
Bitcoin Cash (BCH).
As crypto prices slowly began to rise on Wednesday, BCH was easily one of the day’s biggest gainers.
Following a low of $295.20 on Tuesday, BCH/USD rose to an intraday high of $332.87 during today’s session.
This level is higher than any BCH traded within the past week. It comes even though its value has been trading at over 4% less during the same time period.
The market’s recent momentum has led to prices falling, with BCH trading at a lower level for seven of the ten most recent sessions.
BCH traded at $335 resistance after two days of gains. The RSI is also below its ceiling.
The 50.4 point would represent this level, which historically has been an area of uncertainty and has spawned many bearish runs.
Bulls may be looking for ways to break this limit and reach the $360 mark.
WAVES
WAVES fell by as much as 11% during today’s session, however losses somewhat eased as bulls returned to crypto markets this afternoon.
Waves has dropped to its lowest level in March after a series that saw it fall for ten sessions.
The intraday low for WAVES/USD was $20.48 at the time this article was written. This marks its lowest point since March 7th, and also comes after its most recent floor had been broken.
With recent momentum remaining bearish, many expect WAVES’s fall to a lower level of $16.50.
According to the RSI indicator the price of Waves is currently too high. It is trading at 33.80 which is its lowest level since February.
But, if this floor breaks, we could see all the gains of March erased in a matter of weeks.
Which of these factors do you think is responsible for the decline in waveforms? Please share your views with us in the comment section.
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