Bitcoin Gold [BTG], Bitcoin Diamond [BCD] outshine range-bound market
The cryptocurrency market cannot seem to catch a break. Its bearish streak continued on Saturday, with Bitcoin [BTC] marginally lower while the rest of the major coins remained range bound. However, two coins have managed to outshine their rivals. Bitcoin Gold [BTG] and Bitcoin Diamond [BCD] are currently the biggest percentage gainers among the top 50 cryptos by market cap. The trigger for their bullish momentum remains unclear, but it is a welcome sign that not every digital asset is assailed by the worrying selling pressures that have prevailed in the market lately.
The coin is currently trading above its key support level, noted at $19.69. The crypto is currently facing resistance at $21.15 and is attempting to break out form this level. At the time of writing, the MACD indicated that BTG was slowly making its way back into bullish territory. The 100 EMA line shows that the virtual currency is still locked in a downtrend. The hourly RSI indicator currently stands at 57.07, implying that the digital asset is experiencing increased buying. The altcoin is exhibiting a trading range of $20.10-$21.61. As of 1013 GMT, the token climbed 5 percent against the U.S. dollar to trade at $20.32. The coin had risen 5.1 percent against Bitcoin [BTC], valuing one BTG at around 0.00467 BTC.
The crypto has risen above its key support level, which can be found at $1.09. The coin is steadily rising, as evidenced by the MACD, which shows that BCD is trading with bullish momentum. At press time, the 100 EMA line showed that the token was in an uptrend, after spending majority of the month exhibiting a downtrend. The hourly RSI indicator currently stands at 69.98, which suggests that the digital currency is being oversold in the market. The coin is exhibiting a trading range of $1.02-$1.20. As of 1030 GMT, the digital asset surged 20.1 percent against the U.S. dollar to trade at $1.13. The crypto has soared 20.7 percent against Bitcoin [BTC] and one BCD is priced at around 0.00026 BTC.
Bitcoin Gold has seen over $23 million added to its total market value on Saturday. A sudden spike in its price earlier in the day pushed its market cap to $363.2 million. The market cap of BTG has since stabilized to its current position at $352.3 million. On the other hand, over $4 million was added to the market cap of Bitcoin Diamond on Saturday, till press time. BCD’s market cap stood at $170.3 million at the time of writing.
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