Cryptocurrency Market Update: Bitcoin Cash, Ethereum Classic and Dash Monday fireworks
- Bitcoin Cash, Ethereum Classic and Dash extend the weekend bullish action into the new week.
- Bitcoin Cash partners with South Korea’s Mecon to support BCH withdrawals at over 13,000 ATMs.
Cryptocurrencies are mostly in the green on Monday apart from Ethereum and Ripple, which are posting losses of 0.39% and 1.21%, respectively. The weekend trading yielded greatly for most digital currencies with assets like Bitcoin recovering massively from levels around $8,200 to highs close to $8,700. At the time of writing, Bitcoin is holding ground above $8,600 while the focus has remained on $9,000.
Bitcoin Cash price ballistic surge
Bitcoin Cash is among the biggest single-digit gainers on Monday. The crypto seems to be extending the weekend action from levels under $300 to highs marginally above $400. The bulls’ focus remains on $400 in the near term. However, the biggest task is to sustain gains above $360 or establish a higher support area. At the moment, BCH is trading at $361 and features a 4.12% growth on the day.
The surge has been connected to Bitcoin Cash partnership news with Mecon Cash M.Pay platform. The collaboration will see BCH withdrawals enable in over 13,000 ATMs in South Korea. The support will allow Bitcoin Cash users in the country to make urgent small transactions in areas that do not support peer-to-peer electronic cash directly. Bitcoin.com Executive Chairman Roger Ver said in regards to the partnership:
Mecon Cash is enabling Bitcoin Cash to be used at 13,700 ATM locations across Korea. Bitcoin.com is proud to be working with Mecon to help bring Bitcoin Cash and Mecon Cash to Korea and to the world.
Read more: Bitcoin Cash Price Analysis: BCH/USD in reversal after an action-packed weekend
BCH/USD 4-hour chart
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Ethereum Classic price update
Ethereum Classic has sustained an uptrend emanating from the weekend. The crypto has recorded gains in the last few days after defending $8.00 support. Unfortunately, the resistance at $10 is unbroken despite being tested since yesterday. At the time of writing, ETC is trading $9.68 after adjusting from an intraday high of $9.79. ETC has grown 5.51% on the day from an opening value of $9.19.
Read more: Ethereum Classic Market Update: ETC/USD 5% rally retests $10 resistance on Monday
Dash price overview
The other marvelous performer is Dash. The crypto is trading 4.45% higher on a day-to-day basis. Dash managed to defend the support at $100 and push for gains in the direction of $120. While the resistances at $110 and $115 were overwhelmed by the bullish action, the next hurdle at $120 is yet to be tested. For now, Dash is exchanging hands at $116 amid the generally high crypto volatility levels.
Read more: Dash Market Update: DASH/USD triangle breakout action shifts focus to $120
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
