Bitcoin's market dominance was seen last week after an appreciation in the value of the cryptocurrency drove the altcoin market north. Many of the market's cryptos like Bitcoin Cash and Zcash benefited from this rise in value. However, the effect was not uniform or universal, as other cryptos like Cosmos continued to correct themselves.
Bitcoin Cash (BCH)
Bitcoin Cash, the popular branch of the world's leading cryptocurrency, was one of the most powerful coins in the past week. BCH rose by over 23% in the charts. The above-mentioned increase came at a good time for the bifurcation, as shortly before the rise in the Bitcoin cash market, the dynamics of buyers in the charts were exhausted. At press time, the fork was trading at $ 291.92, with BCH seeing an increase in trading volume in the charts.
The extent of the increase in question was highlighted by BCH's technical indicators, while the Parabolic SARs dotted marks were placed far below the price candles MACD The line lay far above the signal line and indicated an upward movement.
In terms of development, there wasn't much to report for Bitcoin Cash. However, it was so written down Recently there was over $ 6 million worth of tether in the Bitcoin cash chain.
Like Monero, Zcash is one of the few but leading data protection coins on the crypto market. Like Bitcoin Cash, ZEC rose in the charts when Bitcoin rose. In contrast to BCH, Zcash has been in a steady upward trend for a long time. In fact, the ZEC movement has been a steady upward journey since May, interrupted by a series of short hikes and falls. The recent hike was therefore an extension of the upward trend that crypto was already in.
Last week, ZEC recorded almost 15% growth in the charts.
While Chaikin money flow held steady around the 0.20 mark and implied steady capital inflows that Relative strength index plunged into the overbought zone after a short foray.
Zcash was in the news after the Electric Coin Company announced it would be working with people like Gemini and Binance promote Crypto education and crypto competence around the world.
Cosmos, the cryptocurrency that ranked 25th at the time of writing, was one of the many alts that did so well in July. However, like some other alts, especially Chainlink, ATOM hit the charts after reaching a local top. In fact, the devaluation of ATOM was so dramatic that even a huge rise in the price of Bitcoin barely pushed Cosmos' price north.
Although the last candles of the daily price flash green, the price of ATOM had still dropped by over 7% in the past week.
During the mouth of the Bollinger bands held steady at press time and indicated a constant level of price volatility Ingenious oscillator shown falling market dynamics.