The crypto market endured some turbulence during the last few days. Some currencies fell significantly, while the others gained. Since its recent rally, the Bitcoin price dropped by 1.12% on Thursday, reversing a 0.89% gain from Wednesday. It ended the day at $10,222.0.
After a bullish start of the day, Bitcoin surged forward to a mid-morning high $10,480.0 before plummeting down again. But it managed to break through the first major resistance level at $10,452.67 before climbing down at $10,058.0 in the late morning.
However, the crypto fell through the first and second major support levels at $10,230.67 and $10,123.33, respectively. It rebounded to an early afternoon intraday to $10,491.0 after finding support in the early afternoon.
Despite such up’s and down’s, the near-term bearish trend, formed in late June at $13,764.0, remained firmly intact.
On Friday morning, the bitcoin price was down by 0.31% to $10,190.0. After the bearish start of the day, the crypto fell from an early morning high $10,236.4 to a low $10,173.0.
To bring the first major resistance level at $10,456.0, Bitcoin would need to return the $10,260 level. With the broader market’s support, it could even break through to $10,400 levels. But if the crypto can’t manage to move back to $10,400 levels, it may fall deeper into the red.
How about the other major cryptos?
Last days were very turbulent for the other major cryptocurrencies too. Ripple’s XRP rallied by 7.40% and Stellar’s Lumen skyrocketed with 3.16%.
Some of the cryptos gained modestly on Thursday. Bitcoin Cash ABC rose by 0.16%, while Cardano’s ADA increased by 0.49%. EOS and Ethereum also climbed up, adding 0.42% and 0.67%, respectively, with Tron’s TRX gaining 0.09%.
However, Binance Coin and Tezos dropped down, with losses of 6.74% and 5.76% on Thursday. Bitcoin Cash SV also lowered by1.89%. Meanwhile, Litecoin declined by 1.01%, and Monero’s XMR fell by 3.02%.
- Trading Instrument