Cryptocurrencies have fluctuated during the last few days. Most of them began to do so on Monday’s session with a bullish trend. Bitcoin rose from an early morning low of $5,880.9 to a high of $6,036.7 today. However, it has left the major support and resistance levels untested so far. The crypto has traded up by 2.08% to $6,015.0 lately.
The other cryptos also moved into the green this morning. Bitcoin Cash SV gained 3.54%, with Tezos adding 3.90%. These two led the way early on.
However, Bitcoin fell by 1.91% on Saturday and then again by 5.71% on Sunday. Even though the crypto suffered significant losses, it still managed to end the week moving up by 1.25% to $5,892.7.
Bitcoin traded into bearish territory during the Sunday. It fell from an early morning intraday high of $6,280 to a final hour intraday low of $5,892.7. However, the sell-off saw Bitcoin fall through the first major support level at $6,076.03, as well as the second major support level at $5,902.07.
Even so, the near-term bearish trend, which formed in late June 2019’s swing high of $13,764.0, remains firmly intact so far, reaffirmed by the March swing low of $4,000. Bitcoin would need to break out from $10,000 levels for the traders to form a near-term bullish trend.
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What about the other cryptocurrencies?
Several other major cryptocurrencies also suffered a bearish end of the week. Binance Coin lost 7.91%, while Bitcoin Cash SV fell by 7.33%. Monero’s XMR declined by 7.14%, with Ripple’s XRP dropping 7.34%. Tezos also shaved off 7.00%.
Meanwhile, Cardano’s ADA lowered by 6.44%, with Ethereum decreasing by 5.34%. Stellar’s Lumen fell by 5.62%, and Tron’s TRX lost 6.08%.
Bitcoin Cash ABC, EOS, and Litecoin saw relatively modest losses on Sunday, lowering by 4.70%, 4.04%, and 4.68%, respectively. However, the rest of the digital currencies managed to stay in bullish territory.
As the cryptos rallied before the bearish end of the week, the crypto total market cap soared from a Monday low of $163.00bn to a Wednesday high of $191.26bn. But after the weekend, the total market cap fell back to sub-$170bn levels.
- Trading Instrument