Bitcoin Cash has been one of the best performers in the past week, growing by 100%. Cryptocurrencies continue to rise strongly with no real signs of slowing down.
Bitcoin price reached above $30K with strong momentum, where previously BTC had exceeded $31K before the weekend started. Unfortunately, the rally was unable to sustain the buying pressure, which allowed sellers to sell off holdings and push the price back down to $30K. At the time of this writing, the major cryptocurrency is trading at around $30,622.
Price is currently in a rallying phase following a major surge above $31K and subsequent correction. However it is also that does not tend to last long and is usually followed by a big movement either strengthening or declining.
Bitcoin Cash (BCH) is among the altcoins that recorded the best recovery over the past seven days. The cryptocurrency is up 107% for the week and 14% for the day, bucking the volatile sentiment of the past few days.
Based on the heatmap, most altcoins are trading slightly in the red and a few others in the green with no clear direction. Today's best performer was FLEX Coin, up 15%.
The market is currently providing support at the $29,600 trading level. If the support level is broken, the focus level is at $28,250.
