The cryptocurrency market rebounded on Thursday. Several major cryptos soared. Most of them suffered significant losses recently, and experts fear that recovery may be short. However, others are positive that even if the market plunges in the red once again, it will begin to rally soon.
Litecoin rose yesterday as it was preparing to test the resistance level at $47. The bulls tried to push the price toward $95. The crypto was near $55 range at last after rebounding twice during the session.
Experts hope that Litecoin manages to clear the next resistance level. However, if the crypto drops lower than $21, it will move on to the bearish pattern. In that case, the Litecoin price will probably slide to $15.
Meanwhile, Bitcoin tested the resistance area at $6,995, showing promise of further growth. Bitcoin’s market cap is $121.23 billion currently. According to experts, the crypto may move from bullish to the bearish pattern, if it falls below $4,000.
Traders have been testing an important resistance area for Bitcoin while trying to keep the price inside the descending channel. But Bitcoin may increase to $9,275 price if it stays on the current course.
How does Ethereum fare?
Ethereum fell below the $135.10 level yesterday, lowering by 2.58%. The crypto experienced the largest one-day percentage loss since the previous week. After Ethereum’s tumble, its market cap declined to $14.98 billion. Ethereum’s market cap was $135.58 billion at its highest point.
On the other hand, EOS dropped below the $2.2963 level on Thursday. The crypto traded at $2.2963 in the morning session, down by 0.35%. During the last 24 hours, EOS fluctuated between $2.2745 to $2.3432. Meanwhile, its market cap fell to $2.1165 billion. EOS’s market cap was $17.5290 billion at its highest point.
The crypto fluctuated in a range of $1.9360 to $2.5003 in the previous week. Still, EOS gained 8.7% during the last seven days.
- Trading Instrument