Major Cryptocurrencies rallied on Thursday – Market’s Wrap

Major Cryptocurrencies rallied on Thursday – Market’s Wrap

Bitcoin soared by 0.95% on Thursday, ending the day at $6,751.9. The crypto fell by 1.09% on Wednesday before beginning to rise again.

After the bullish start of the Thursday, Bitcoin rallied to an early morning intraday high $6,790.8. However, the crypto hit reverse soon. It fell short of the first major resistance level at $6,960.73, which caused the Bitcoin to drop to an early afternoon intraday low $6,516.0.

The crypto still managed to found support and close out the day in the green, even after it steered clear of the first major support level at $6,422.93.

Despite its recent rally, Bitcoin’s near-term bearish trend, which formed at late June’s swing hi $13,764.0, remained firmly intact so far, reaffirmed by the March swing lo $4,000. Bitcoin would need to break out from $10,000 levels for the traders to form a near-term bullish trend.

What about the other cryptocurrencies? 

Thursday was a bullish day for the other major cryptos too. Binance Coin and Ripple’s XRP gained most, rallying by 8.20% and 8.97%, respectively.

Monero’s XMR soared by 6.90%, while Cardano’s ADA increased by 5.10%, and Stellar’s Lumen added 5.31%. Tron’s TRX, on the other hand, rose by 4.95%.

The other cryptos also profited from the rally. Bitcoin Cash ABC gained 3.22%, with Bitcoin Cash SV rising moderately by 0.50%. Meanwhile, EOS added 1.35%, and Ethereum rose by1.94%. Litecoin and Tezos also increased by 3.31% and 2.79%, respectively.

The total crypto market cap skyrocketed from a Monday low $163.00bn to a Wednesday high $191.26bn during this week. However, it stood at $188.71bn today.

The cryptos started Friday’s session on the bullish territory. Bitcoin was up by 1.37% to $6,844.4 at last. The crypto soared from an early morning low $6,752.0 to a high $6,861.4, testing the first major resistance level at $6,856.47. Bitcoin Cash ABC and Litecoin also continued to rally.