ForexMinute.com – If there is selling pressure, there is also a buying spree. It seems like the market is finally returning to support Litecoin and Dogecoin – both of which were subjected to immense negativity lately, which further caused huge drops in their prices and market caps. In the last 24 hours, the Dogecoin seems to have received huge support from its Shibe community. The similar is with Litecoin, which is currently picking momentum by small yet constant pumps.
And in fact, the entire cryptocurrency clan is seeing some surges, leaving few exceptions. Speaking particularly of the top ten coins, we have Bitcoin, Litecoin, Nxt, Ripple, Dogecoin, Namecoin, Mastercoin and BlackCoin that have surged impressively in last 24 hours. On the flip side, Darkcoin and Peercoin have seen some notable drops within the same span.
Here is the full report of the leading coins:
The BTC/USD finally picked a little momentum during the yesterday’s trading hours. The pair opened at $622, and soon hinted an uptrend by rising with almost equal support and resistance. During its course, it reached to the peak of $626, after which it stumbled a bit and eventually closed at $624.
It was indeed important for Bitcoin to maintain its charts during certain negative events, whether it is the dismantling of a full-fledged Bitcoin exchange in France or its mention in one of the blogs by the terrorist organization ISIS. The coin, in the end, held just fine. During yesterday trading hours, the BTC/USD was also supported by few optimistic events, such as the release of a new OKCoin app, the recognition of by Bitcoin by the Polish government, and none the least, Xapo fundraising $40 million for Bitcoin industry.
These influences are clearly visible even in today’s charts. At the present time, the BTC/USD is trading smoothly around $624 and has increased around 0.5% in the last 24 hours.
The LTC/USD, since its rebound during July 7th trading hours, is constantly trending upwards. The pair stayed in its current fashion, closing at around $0.01241500 BTC after opening at 0.0123 BTC. This rise is indeed influenced from the short term investors who are simply buying Litecoin for its lower prices. As the volume trade of the coin still remains to the second-highest after Bitcoin, there is no point that LTC will be dumped in a short time, like other altcoins.
In fact at press time, the LTC/BTC has risen over 4.5% in last 24 hours, while the Litecoin’s current value is around $8.
It seems like investors are finally taking the fun-filled Dogecoin seriously. Likewise Litecoin, the coin has rebounded hugely after reaching to its bottom’s best. In last 24 hours specifically, the DOGE/BTC has risen over 16% which has eventually brought its value to $0.000268. Yesterday, it opened yesterday at around $0.00000037, but in the later hours, saw a massive pump that brought it on the two week’s best at $0.00000042, around which it also closed.
To contact the reporter of the story: Yashu Gola at firstname.lastname@example.org
Subscribe to our daily forex newsletter for free by visiting www.forexminute.com/newsletter