Bitcoin Cash Experienced a surge to a seven-month high on Tuesday, regardless of the increasing bearish sentiment in the crypto market. The total market capitalization has decreased by 1.50% since the time of writing. Polygon (MATIC) was the most notable token to suffer a decrease, with its value falling for the fourth day in a row.
Bitcoin Cash (BCH)
The Bitcoin Cash (BCH) market saw a notable surge to a multi-month high on Tuesday, despite the bearish market conditions. After starting the week with a low of $143.19, the BCH/USD trading pair hit an intraday high of $152.71 during the session. This marks the highest level since July 31 when the value broke through $150.00.
Overall, BCH has seen a rise of almost 20% in the past seven days, driven by a break in the relative strength index (RSI) value. The index has moved from a low of 68.00 to a current value of 69.88, with a peak of 71.00 at one point. As the positive factors that drove this surge start to fade, buyers are opting for caution.
Polygon (MATIC)
Polygon (MATIC) was one of the largest movers last week, but its value has been declining for the last four days. MATIC/USD fell below $1.41 on Tuesday, down from a peak of $1.50 the day before. The bulls drove the token to its highest level since April when they pushed the value into overbought territory.
