Bitcoin Cash was one of Monday’s biggest movers, rising by as much as 5%, despite markets mostly consolidating to start the week. The global crypto market cap has been largely unchanged, with volatility mostly muted. Stellar also rose higher, avoiding a drop below a key support point.

Bitcoin Cash (BCH)

Bitcoin cash (BCH) rose by as much as 5% to start the week, despite the wider market mostly trading lower.

BCH/USD jumped to a peak of $242.29 earlier in today’s session, following an earlier low of $219.27.

The move came after BCH briefly broke out of a support point at $220.00, with traders swooping in to buy the dip.

Another catalyst to the surge appears to be the 14-day relative strength index (RSI) moving past a ceiling at 48.00.

Currently, price strength is tracking at 49.48, which is marginally below the next point of resistance at 50.00.

In the event this level is breached, there is a strong possibility that BCH could move towards $260.00.

Stellar (XLM)

Additionally, stellar (XLM) was another token in the green on Monday, as it continued to move away from a floor of $0.1345.

Following a low at $0.1380 on Sunday, XLM/USD rallied to an intraday high of $0.1431 earlier in the day.

This is the third straight session that stellar has traded higher, and comes despite a recent downward crossover of moving averages (MA).

As can be seen from the chart, the 10-day (red) MA moved below its 25-day (blue) counterpart, which is typically a bearish signal.

Even though momentum has shown signs of weakness, XLM bulls will likely continue to target exits at a ceiling of $0.1600.

Register your email here to get weekly price analysis updates sent to your inbox:

Are there any fundamentals behind stellar’s rally? Let us know your thoughts in the comments.

Market Updates, Analysis, BCH, bitcoin cash, Cryptocurrency, Stellar, XLMRead More

You might also be interested in reading MahaDAO to List MAHA and ARTH With BitMax.io.