Major cryptos suffered significant losses over the last days

Major cryptos suffered significant losses over the last days

The Cryptocurrency market had a bearish start of the week. It traded in red on Monday. Bitcoin Cash ABC lowered by 0.95%, and Bitcoin Cash SV dropped by 0.88%. Meanwhile, Cardano’s ADA tumbled down by 1.06%, and Tron’s TRX fell by 0.93%.

The major cryptos declined on Sunday as well. Tezos plunged by 4.27%, while Stellar’s Lumen plummeted down by 3.72%, and Cardano’s ADA shaved off 3.34%.

Several other digital coins also lost significant amounts. Ethereum tumbled down by 2.87%, and Tron’s TRX decreased by 2.64%. Litecoin fell by 2.42%.

On the other hand, Binance Coin, Bitcoin Cash ABC, and Bitcoin Cash SV saw relatively modest losses, which were lower by 1.66%, 0.58%, and 1.23%, respectively. EOS dropped by 1.59%, with Monero’s XMR sliding by 1.38%, and Ripple’s XRP by 1.07%.

What about Bitcoin?

Bitcoin declined by 0.26% to $9,320.1 on Monday. The crypto slid from an early morning high of $9,370.7 to a low of $9,290.6. But it left the major support and resistance levels untested.

On Sunday, Bitcoin plummeted down by 1.43%, ending the week down by 4.15% to $9,344.8. The crypto plunged to a late intraday low of $9,262.0 from an early morning intraday high of $9,486.0. It then dropped through the first major support level at $9,396.8, as well as the second major support level at $9,312.7.

Despite that, Bitcoin found support late in the day and briefly hit a high of $9,400.1 before sliding back. Even though the crypto broke through the second major support level, the first major support level pinned it back.

All in all, last week was bearish for the major cryptocurrencies. Cardan’s ADA lost 11.83% during the week, while EOS tumbled down by 8.62%, and Stellar’s Lumen dropped by 9.98%. Tezos also shaved off by 10.57%, and Tron’s TRX fell by 10.78%.

On Monday, the crypto total market cap stood at $258.87bn. After the sell-off, the total market cap fell to a week low of $252.82bn. However, before Thursday’s sell-off, it had rebounded from a Tuesday low of $265.84bn and hit a Wednesday high of $278.33bn.

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