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.
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%.
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