Solana gained 11% for the week and the token hit a new high for the fourth consecutive session. Market sentiment has been mostly bullish for the past two weeks, leading to prices hitting multi-month highs on Monday. Bitcoin Cash also surged, rising to its strongest level since July.
Solana (SOL)
Solana (SOL) rose more than 11% in Monday’s session, with the token soaring to a multi-month high earlier in the day.
After a low of $24.04 on Sunday, SOL/USD surged to an intraday peak of $26.93 to start the week.
As a result of this move, Solana rose to its highest level since November 8, when prices hit a high of $31.78.
Solana has risen for four consecutive sessions, with price breaking out of a key resistance line at $26.00 in the process.
In addition to this, the 14-day Relative Strength Index (RSI) has crossed its own ceiling at 62.00.
The index is currently at 63.58, and if it continues in an upward direction, SOL could reach $30.00 in the next few days.
Bitcoin Cash (BCH)
Another notable gainer on Monday was Bitcoin Cash (BCH), which also moved to its highest price in months.
BCH/USD rose to a high of $146.83 earlier in the day after trading at a bottom of $134.55 on Sunday.
This rally took Bitcoin Cash to a point not seen since July 31, when the cryptocurrency traded above $150.00.
as the 10-day moving average (red) approaches a crossover with the 25-day moving average (blue).
Additionally, the RSI is also at a new 16-day high of 65.85, close to the 66.00 ceiling.
If price strength passes this hurdle,BCHbulls will likely retake the $150.00 mark.
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Image Credits: Shutterstock, Pixabay, Wiki Commons, Dennis Diatel / Shutterstock.com.
