Cryptocurrencies rallied on Wednesday – Market’s wrap

Cryptocurrencies rallied on Wednesday – Market’s wrap

Bitcoin soared by 2.07% to $7,351.9 on Wednesday. After a bullish start of the day, the crypto rose from an early morning low of $7,151.6 to a high of $7,393.1. But so far, it left the major support and resistance levels untested.

The other major cryptos rallied as well today. Bitcoin Cash ABC and Bitcoin Cash SV gained the most, skyrocketing by 8.92% and 15.73%, respectively.

However, Bitcoin dropped down by 1.87% on Tuesday after it gained 8.25% on Monday. The crypto ended yesterday’s session at $7,203.0.

Bitcoin fluctuated during the day. It rose to an early morning intraday high of $7,454.3 before sliding back. After the crypto fell short of the first major resistance level at $7,544.7, Bitcoin dropped to a morning low of $7,237.4.

Nonetheless, it recovered soon, reaching levels at $7,400 before tumbling to a late intraday low of $7,088. After that, Bitcoin rose to $7,200 at the end of Tuesday’s session.

What about the other cryptocurrencies?

The major cryptos fluctuated on Tuesday. Tezos rose by 2.21%, while the rest of the digital currencies ended in the red. Monero’s XMR lost 5.85%, EOS shaved 4.66%, and Ethereum fell by 4.07%. However, Cardano’s ADA slid by 1.82%, and Litecoin lost only 0.71% during the day.

Meanwhile, Binance Coin dropped by 3.16%, and Bitcoin Cash ABC lowered by 3.03%. Bitcoin Cash SV, on the other hand, tumbled down by 3.75%, with Ripple’s XRP falling by 2.57%. Stellar’s Lumen and Tron’s TRX also saw heavy losses, plummeting down by 2.73% and 3.60%, respectively.

The crypto total market cap rose from a Monday low of $190.55bn to a Tuesday high of $211.57bn during the week. The total market cap stood at $208.58bn on Wednesday.

Bitcoin’s dominance eased back from the 65% last seen on Monday, standing at 64.1% at the very end.24-hour trading volumes rebounded from sub-$100bn levels to hit $171bn on Tuesday before sliding back. 24-hr volumes stood at $153.73bn on Wednesday.

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