As we mentioned in yesterday’s article, BlackCoin has been on a strong run on the Chinese BTC38 exchange as of late. With a very strong price increase during yesterday morning and yesterday late afternoon, let’s take a look at how the BC price is doing right now, when being traded against CNY.
Don’t let the statistics fool you folks, as it currently says the Blackcoin price is down by 3.8% over the past 24 hours. That depends on the point where the cut-off happened before we transitioned to a new day, and as I am writing this, the Blackcoin value has gone up again, and is now sitting at a +12.9% 24-hour change. That’s how fast it goes in the world of cryptocurrency.
When we make a quick comparison to yesterday’s prices at the time of writing the article, we can see there has been another big uptrend in regards to the Blackcoin’s value. By the time I finished writing the article yesterday, one BC was trading for approximately 0.203 CNY.
By looking at the current charts, you can see that price has increased overnight, and the high value was 0.278 CNY at one point. Ever since that high point, there have been several points of resistance, driving the price back down to 0.225 CNY as of this writing.
If you take a look at the BC/CNY orderbook on BTC38, you can see there is plenty of buy support between 0.200 CNY and 0.225 CNY, while there are very little sell walls up until the 0.254 CNY mark. There is plenty of opportunity for the Blackcoin price to keep going up over the course of today.
In the past 24 hours, there has been 9,069,880 Blackcoin and 1,981,851 CNY in trading volume. This is slightly down from the numbers we had yesterday, but still very strong support overall.
From what we can tell by looking at the current charts, the Blackcoin price remains very bullish so far where the CNY market is concerned. Prices are slowly moving up on the BC/BTC trading pair as well, but that’s not where most of the focus is right now.