Bitcoin cash was once again a big mover, as the cryptocurrency rose by nearly 10% during today’s session. The move saw price climb to its highest level since mid-August, and came as U.S. dollar strength pushed the S&P 500 to a three-month low. Chainlink also rallied strongly on Wednesday.
Bitcoin Cash (BCH)
Bitcoin cash (BCH) continued to climb higher for a third straight session on Wednesday, as prices surged by nearly 10% in today’s session.
BCH/USD peaked at $234.94 earlier in the day, which comes a day after falling to a low of $211.95.
This is the strongest point that the token has hit since August 10, when price was trading above $240.00.
Looking at the chart, the move came following a breakout of a point of resistance at the $225.00 level.
Additionally, the relative strength index (RSI) also broke out of a ceiling at 60.00, and is now tracking at 65.52.
The next target now seems to be at the $250.00 mark, which could be hit if current momentum extends for the remainder of the week.
In addition to BCH, chainlink (LINK) was also in the green on Wednesday, rising to a multi-week high of its own.
After falling to a low of $7.26 on Tuesday, LINK/USD surged to an intraday high of $7.82 during today’s session.
Like with bitcoin cash above, today’s peak pushed the cryptocurrency to its highest level since August 9.
Overall, the rise occurred as price strength moved past a resistance level of 67.00, with a current reading of 67.22.
LINK bulls are now likely looking to hit a ceiling of $8.00, as the 10-day (red) moving average maintains a recent uptrend.
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Could LINK reach $8.00 this week? Let us know your thoughts in the comments.