Digital asset markets are doing some healing during the past 24-hours of trading after touching some lows the day prior. At the moment the entire cryptocurrency market capitalization of all 1,600+ tokens is around $377Bn with around $16Bn worth of 24-hour trade volume. Bitcoin Core (BTC) markets are up 2.3 percent averaging $8,314 per coin while Bitcoin Cash (BCH) prices are up 1.5 percent at around $1,180 per BCH.
Also read: “Stablecoin” Trueusd Pumps After Binance Listing
The Week-Long ‘Consensus Pump’ Never Came to Fruition
The mid-May ‘blockchain week’ Consensus pump never materialized last week even though there was plenty of positive cryptocurrency news. During the course of the week, most digital assets in the top 500 lost a good portion of gains. This weekend is a different story as a bunch of markets are seeing some recovery from the dips. Bitcoin Cash markets are up 2.3 percent averaging roughly $1,188 per BCH at the time of publication. The decentralized currency’s 24-hour trade volume has dropped considerably to $683Mn which doesn’t give traders hope for a bigger weekend push. The top five exchanges swapping the most BCH today include Okex, Huobi, Hitbtc, Lbank, and EXX. BTC pairs with BCH has increased significantly as BTC represents 41 percent of today’s BCH trades. This is followed by tether (USDT 30%), USD (13%), KRW (11%), and the Euro (1.2%).
BCH/USD prices on May 19, 2018.
BCH/USD Technical Indicators
Looking at the BCH/USD four-hour charts on both Bitstamp and Bitfinex shows bulls need to muster up more strength to break upper resistance. The two Simple Moving Averages (SMA) still have a gap with the 100 SMA above the 200 SMA indicating a good path to the upside. However even though there is
