The cryptocurrency market is recovering rapidly after its recent collapse. Some experts fear that this rebound will be short-lived. However, others argue that even if the cryptos end in the red once again, they will still manage to gain enough ground to rise again soon.
Bulls have been testing a significant resistance area for Bitcoin while trying to keep the price inside the descending channel. But the crypto may increase to $9,275 price if it stays on its current course.
On the other hand, Bitcoin could move from a bullish to a bearish pattern, if it falls below $4,000. Right now, the crypto is testing the resistance area at $6,995, showing promise of further growth. Bitcoin’s market cap is currently $121.23 billion.
Ethereum dropped below the $135.10 level on Thursday. It lowered by 2.58%, experiencing the largest one-day percentage loss since the previous week.
After the crypto’s decline, its market cap fell to $14.98 billion. Ethereum’s market cap was $135.58 billion at its highest point.
What about Litecoin and EOS?
Litecoin is rising, preparing to test the resistance level at $47 soon. The bulls are pushing the price toward $95. However, if the crypto plunges lower than $21, it will move on to a bearish pattern. In that case, the Litecoin price will probably slide down to $15.
Presently, the crypto is nearing $55 range. It has already rebounded twice today. Experts hope that Litecoin manages to clear the next resistance level.
Meanwhile, EOS dropped below the $2.2963 level today. The crypto was trading at 2.2963 in the morning, down by 0.35%.
EOS’s market cap lowered to $2.1165 billion. The crypto’s market cap was $17.5290 billion at its highest point. During the last 24 hours, crypto fluctuated between $2.2745 to $2.3432.
The crypto gained 8.7% during the last seven days. Currently, it is trading at $2.2502. However, in the past week, crypto has fluctuated in a range of $1.9360 to $2.5003.
- Trading Instrument