Most of the major cryptos traded in the red on Thursday

Most of the major cryptos traded in the red on Thursday

The crypto market traded on the bullish territory on Thursday. Binance Coin lowered by 1.59%, leading the way down. On the other hand, Tezos managed to recover some losses from Wednesday, gaining 1.49%.

 

On Wednesday, the major cryptos fluctuated. Binance Coin and Monero’s XMR rallied by 4.48% and 3.59%, respectively.

 

Ethereum skyrocketed by 2.94%, while Bitcoin Cash ABC surged forward by 2.71%, and Bitcoin Cash SV soared by 2.89%. Litecoin increased by 2.29%, with EOS also gaining 0.71%. Ripple’s XRP edged up by 0.38%.

 

Meanwhile, several other major digital coins traded on bearish territory. Tezos plunged by 4.04%, while Tron’s TRX decreased by 0.68%. Cardano’s ADA also fell by 0.99%, but Stellar’s Lumen tumbled down by 2.66%.

 

How did Bitcoin fare?

 

Bitcoin declined by 0.82% to $11,639.5 on Thursday. The crypto hit an early morning high $11,799.0 before tumbling down to a low $11,605.0. It left the major support and resistance levels untested as well.

 

On Wednesday, Bitcoin rallied by 4.91%, ending the day at $11,735.8. The crypto fluctuated during the session. It plummeted down to an early morning intraday low $11,085 before making a move.

 

Furthermore, Bitcoin surged forward to a late intraday high $11,800 after steering clear of the first major support level at $10,993. It broke through the first major resistance level at $11,386, as well as the second major resistance level at $11,587.

 

However, Bitcoin dropped through the second resistance level for a short time before ending the day at $11,700.

 

So far, the near-term bullish trend remained intact, with the latest move through to $11,000 levels supporting it. Bitcoin would need to plunge through the 62% FIB of $6,400 to form a near-term bearish trend.

 

Bitcoin’s dominance stood at 62.38% on Thursday. Bitcoin’s dominance fell from a Monday high 62.46% to a Tuesday low 61.24%.

 

During the week, the crypto total market cap jumped from a Monday low $323.88bn to a Wednesday high $352.79bn. The total market cap stood at $344.35bn on Thursday.

 

 

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