Bitcoin fluctuated a lot during these last weeks: plummeting low after skyrocketing, then repeating the process. Investors hoped that it would reach a high of $9,200 in 2020. But so far, it is gravitating roughly between $8,200 and $8,700.
The cryptocurrency rallied for a short period during the last week, reaching $8,631.6. It grew by 3.21% on Sunday but then fell again at 1.11%, ending the week lower by 0.89% to $8.621.5.
Thus far, Bitcoin endured three main resistance levels for the past few weeks. It broke through the first major resistance level at $8,440.60, then the second major resistance level at $8,527.50. But after falling short of the third major resistance level at $8,694.70, Bitcoin returned to sub-$8,600 levels. It was up by 0.58% to $8,671.4 this morning.
Analysts suggest that to form a near-term bullish trend, Bitcoin would need to break out of its $11,000 levels. So far, the almost bearish trend is still intact. It developed in late June when the crypto reached $13,764.0. It seems Bitcoin will continue its climb today.
Litecoin and Ripple’s XRP drop; How about Ethereum and Tron’s TRX?
Most of the cryptocurrencies rose significantly during the last few days, but some of them lost part of the gain at the end of the week. Bitcoin Cash ABC increased by 12.44%. Litecoin added 5.51%, with Ripple’s XPR also gaining 5.51%.
Meanwhile, Bitcoin Cash SV rose by 4.80%, EOS rallied to 4.43%, Ethereum grew by 4.59, Stellar’s Lumen went up by 4.18%, and Tron’s TRX hiked by 4.32%.
The week ended successfully for Cardano’s ADA (+6.31%), Bitcoin Cash ABC (+1.69%), EOS (+1.04%), Tron’s TRX (+1.01%), Binance Coin (+0.46%) and Ethereum (+0.36%).
On the other hand, some crypto’s finished the session in the red. Bitcoin Cash SV lost 2.94%, and Monero’s XMR declined by 2.81%. Litecoin also dropped by 2.54%, while Stellar’s Lumen plummeted down to 2.84%. Ripple’s XRP lowered to 1.64% during the week, at last stopping at 0.48% low.
- Trading Instrument