On a day where bitcoin broke out of its $20,000 support point, BCH bounced on its own floor, climbing higher on Saturday. BCH was up by nearly 7% to start the weekend, whilst MATIC fell to its lowest point since last April.
Biggest Movers: BCH Higher to Start the Weekend, MATIC Hits 15-Month Low
This article was published more than a year ago. Some information may no longer be current.
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Bitcoin Cash ( BCH)
Despite yet another red wave in crypto markets on Saturday, BCH was able to evade this, and instead rose by almost 10%.
BCH/USD hit an intraday peak of $123.31 earlier in the day, which came less than a day after falling to a low of $109.11.
Friday’s bottom was the lowest level BCH has traded at since February 2019, and came as prices fell below the recent support at $110.
However, following this three-year low, bulls made a concerted effort to lift prices away from this point.
As of writing, earlier gains have somewhat eased, with bitcoin cash trading around $5 lower than today’s previous peak.
Overall, prices are down nearly 30% from the same point last week.
Polygon (MATIC)
Whilst BCH moved away from a multi-year low, MATIC moved towards one, as prices slipped to start the weekend.
On Saturday, MATIC/USD fell to a low of $0.3631, which is nearly 10% lower than yesterday’s high of $0.406.
Today’s decline saw MATIC hit its lowest level in 15 months, following a rough three months which saw prices drop from $1.37.
Despite this intense sell-off, MATIC continues to remain in the cryptocurrency top 20, however should this level of declines persist, it may face challenges to remain there.
As of writing, the 14-day RSI is hovering slightly above its floor of 27, which is a point that hasn’t been broken since May 12.
Should this change, then bears will look to take prices towards, and eventually below, $0.3000.
Will MATIC ever trade above $1 again? Let us know your thoughts in the comments.
