The cryptocurrency market is heading into a very interesting time with digital assets firmly in the green over the last seven days. While there is action at the top of the rankings, with Bitcoin Cash (BCH) moving +101% on news that it will have its planned hard fork on May 15, 2018, it appears it’s outside the top 10 that most movement is taking place.
The technical aspects of Bitcoin Cash (BCH) indicate there is likely to be tough resistance at $1,566.484, with expected support at $1,126.223. The RSI index is 84, meaning the overbought conditions are still in place. However, if the trend reverses and the token fails to get support at $1,126.223, it could fall to $851.
Here is one more coin that could end the week as highest gainers.
SmartMesh (SMT) has also witnessed massive interest, moving about $23 million worth SMT during the Asian trading hours. The token is trading at $0.1058 against the USD, surging +41.98% over the last 24 hours. The 112 ranked token has jumped 94.56% in the last 7 days. This has made rank as one of the biggest gainers of the week.
SMT is an Internet of Things protocol built on the blockchain. It aims at making it possible to connect a number of devices to the ecosystem even without internet. You can utilize your smartphone, and any other compatible device using the SMT network. The team has a built a system that provides among other things information security, privacy, reduces network congestion and allows users to communicate even when offline. The ecosystem also allows you to make offline transactions and payments.
With the upgrading of the spectrum public chain, the token has moved closer to going live and that seems to have attracted attention. However, some scammers seem to be out to benefit from the positivity around SMT. There have been claims of an ETH giveaway. This might have duped a few investors. This prompted the SMT Foundation to warn its community. This is what the twitter message said:
“Everyone PLEASE BE AWARE, there is a SCAMMER posting on our recent threads offering an ETH giveaway. Look carefully at the handle and you will see it is NOT from @smart_mesh which is our official Twitter account. Please disregard any and all offers from any other accounts!”