Altcoins fought back this week from the bottom, with bitcoin (BTC) lagging slightly behind. After an impressive spike, it was not surprising that traders booked profits on ther sudden gains. Altcoins might have pulled back drastically from the recent upsurge but bitcoin is still holding strong. The coin’s dominance has started creeping back up from April’s 50% to 54.5%.
Here’s a quick rundown of the top performing cryptos:
Bitcoin ended the week with a bullish crossover for the first time since the last quarter of 2015. This could mean a trend reversal is in the horizon. The BTC/USD has stayed ahead of the $4,914.11 breakout level these past three weeks but the bulls are still trying to push the price to $5,900.
The past few days saw Bitcoin SV in the news as it was delisted from several exchanges. But after the first plunge, the coin’s price appear to be steadying. The delisting certainly put it in the limelight and has helped it garner support from some quarters.
Ethereum was also in the spotlight recently with its co-founder raising Ether staking rewards and its core developers announcing the successful funding of its ProgPoW code audit. Samsung and Societe Generale SFH also made several positive announcements regarding the ETH blockchain. The pair has admittedly slipped below breakout levels but there’s hope of a rebound in the offing.
XEM was the second-strongest performer in the market as it fell by 9% in the last week. The XEM/USD tandem hit a slight roadblock at overhead resistance but the price has been correcting itself the past three weeks. The bulls will try to defend support at $0.60.