Crypto market ended in red on Wednesday after a recent rally

Crypto market ended in red on Wednesday after a recent rally

Bitcoin dropped down by 0.32% to $9,496.1 on Wednesday. After a mixed start of the day, the crypto hit an early morning high of $9,538.1, before tumbling to a low of $9,480.6. It also left the major support and resistance levels untested so far.

The crypto traded in bearish territory on Tuesday, as well. It plunged by 6.84% and partially reversed an 8.2% gain from Monday, ending the day at $9,527.0.

Furthermore, Bitcoin plummeted down from an early morning intraday high of $10,252.0 to an early morning low of $10,066.0. The crypto steered clear of the first major support level at $9,632.53, but it managed to recover to $10,200 levels before reversing course.

After that, Bitcoin dropped to an early afternoon intraday low of $9,150.0 before finding support.The crypto also slid through the first major support level at $9,632.53. Despite finding late support, it failed to break through the first major support level. Resistance at $9,600 pulled Bitcoin back.

Bitcoin’s dominance hit a Monday high of 67.13% before dropping to a Tuesday low of 65.64%. On Wednesday, Bitcoin’s dominance stood at 66.02%.

How did the other cryptos fare?

Majors cryptos struggled on Wednesday’s session. Stellar’s Lumen and Tezos suffered the most, losing 1.64% and 1.39%.

On the other hand, the cryptocurrency market fluctuated on Tuesday. Stellar’s Lumen skyrocketed by 3.39%, gaining the most. However, others ended the session in the red.

EOS collapsed by 5.40%, while Litecoin lost 4.68%, and Tron’s TRX plunged by 4.57%. Binance Coin also plummeted down by 3.73%, while Ethereum shaved off 4.31%, with Ripple’s XRP falling by 3.75%.

Several other digital coins saw relatively modest losses. Bitcoin Cash SV and Cardano’s ADA declined by 2.52% and 2.40%, respectively. Meanwhile, Bitcoin Cash ABC dropped by 1.22%, and Monero’s XMR tumbled down by 1.78%, with Tezos losing 2.31%.

The crypto total market cap soared to a Monday high of $285.71bn, before falling to a Tuesday low of $255.98bn over this week. On Wednesday, the total market cap stood at $264.36bn.

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