Cryptocurrency Trading News: Less Falls, More Surges; Market is Looking Good Today

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Cryptocurrency Trading News

ForexMinute.com – Last 24 hours in the cryptocurrency market has had its share of fun, as Nxt and Darkcoin once again are booming in sync with each other, and Bitcoin and Litecoin are looking stable (with little hiccups) for most of the time. Dogecoin too is impressive and has risen over 5% within the same time.

On the flip side, we have Peercoin, Namecoin and Mastercoin that have fallen considerably in the last 24 hours. While Peercoin, which was expected to rise constantly ahead of the launch of NuBits met resistance due to noticeable sell-offs, Namecoin has slipped slightly due to unknown reasons. Meanwhile, looking at the Mastercoin charts, one can blame its 21% fall to be caused by extensive dumping.

Here is the full report:

BTC/USD
Surrounded with optimistic events most of the time, the BTC/USD opened yesterday at around $655 amid decent inflow from the market. At one point, the pair reached to its day’s peak at around $658. Though, it fell notably in the following hour, and eventually finding support at $652. The fall was caused probably due to the rise in Nxt and Darkcoin inflow in last 24 hours as more investors might have been exchanging their Bitcoin with the aforementioned coins.

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The pair however soon recovered a little, and ended the day on a positive note – reaching around $653 eventually. The growth continued even upon entering today’s trading hours thanks to the influential announcement of Massachusetts Institute of Technology launching a Bitcoin ATM and famous eastern US jewellery retailer REEDS now accepting the coin as well.

The BTC/USD though fell soon after facing resistance at around $656 that soon brought down its value to $646 – might be because of the shorting going on alongside. The pair although has recovered now and is being valued at $649, falling only 0.99% in the last 24 hours.

LTC/USD
The lack of any major announcements is shaking Litecoin’s ground a bit. With “a-bit” we mean to signify its slight falls that won’t be causing much havoc to the market. Seeing the LTC/USD comfortable zone – between $10 and $11 – for months, we can say that most Litecoin investors are simply holding on to their coin until the arrival of Scrypt ASICs (read here).

The LTC/USD chart however is now trending downwards in last 24 hours, with its own attractive resistances and supports. The pair opened yesterday at around $11.2, but closed by falling only $0.1 at the end. The pair picked momentum once again during the initial trading hours of today, in which it rose to around $11.153 but has now fallen 1.5% and is priced at $11.07; stable though.

To contact the reporter of the story: Yashu Gola at yashu@forexminute.com

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