Blackcoin (BC) has continued its hot streak after staving off falling below its key 0.08 mBTC support level. The rally started when it gained 17% last week. It continued to trend higher in choppy trade, culminating at 0.17 mBTC ($0.082) several hours ago.
At its peak, BC had doubled in value from the lows near 0.085 mBTC, where it had languished for over 2 weeks.
Thereafter, BC quickly reversed course and is now trading at 0.146 mBTC. Volume has been higher than average during the past 24h at $528,000 worth traded, the 5th highest total among cryptocurrencies.
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At the peak, BC reached its highest point since late July. It also came to within 12% of its 50-day moving average. It has not traded above this level since June.
BC is still nearly 80% off its peak set in the spring. Gains like those from the past week are not uncommon following such losses.
Blackcoin currently ranks 14th in market cap rank, worth $5.1 million.