The cryptocurrencies market rallied on Thursday. Almost all major cryptos rose after suffering significant losses earlier this month. Binance Coin and Ripple’s XRP skyrocketed by 8.20% and 8.97%, respectively.
Monero’s XMR soared by 6.90%, while Stellar’s Lumen added 5.31%. Meanwhile, Cardano’s ADA gained 5.10%, and Tron’s TRX rose by 4.95%.
While those four were leading the rally, several other cryptos weren’t far with their gains. Bitcoin Cash ABC increased by 3.22%, with Bitcoin Cash SV rising moderately by 0.50%.
Furthermore, EOS soared by 1.35%, and Ethereum increased by 1.94%. Litecoin and Tezos also added 3.31% and 2.79%, respectively.
Bitcoin, on the other hand, gained moderately on Thursday, rising by 0.95% and ending the day at $6,751.9. The crypto dropped down by 1.09% on Wednesday before beginning to rise again.
Major cryptocurrency rallied to an early morning intraday high $6,790.8 after the bullish start on Thursday. However, Bitcoin dropped down to an early afternoon intraday low of $6,516.0 after falling short of the first major resistance level at $6,960.73.
The crypto also steered clear of the first major support level at $6,422.93, but it found support later and closed out the day in the green.
So far, Bitcoin’s near-term bearish trend, which formed at late June’s swing hi $13,764.0, remains firmly intact, reaffirmed by the March swing lo $4,000. The crypto would need to break out from $10,000 levels for traders to form a near-term bullish trend. Despite the recent rally, Bitcoin hasn’t managed it yet.
However, after the other crypto gains, the total crypto market cap skyrocketed from a Monday low $163.00bn to a Wednesday high $191.26bn during the last week. It stood at $188.71bn at the end of the week.
The crypto market was bullish on Friday. Bitcoin soared from an early morning low $6,752.0 to a high of $6,861.4, testing the first major resistance level at $6,856.47. The crypto was up by 1.37% to $6,844.4 at last. Bitcoin Cash ABC and Litecoin also continued to rise.
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