Thu, September 29, 2022

Bitcoin rose on Monday after losing 5.08% in the last week

bitcoin, btc

Bitcoin gained by 0.83% to $8,782.2 on Monday. The crypto fell to an early morning low of $8,620.0 before hitting a high of $8,808.7. However, it left the major support and resistance levels untested so far.

Bitcoin suffered a significant loss on Sunday, plummeting down by 5.08%. It ended the week down by 9.91% to $8,710.10. However, Bitcoin rose to a mid-morning intraday high of $9,300.0 before reversing the course yesterday. Before falling to a late afternoon low of $8,859.2, the crypto came up against the first major resistance level at $9,295.47. However, it fell through the first major support level at $9,064.27, as well as the second major support level at $8,952.93.

Despite that, Bitcoin managed to find late support and briefly recovered to a high of $9,075. However, late hour sell-off caused the crypto to fall back through the first and second major support levels to an intraday low of $8,688.0.

What about other cryptocurrencies?

Other cryptos traded on bullish territory on Monday. Tron’s TRX gained 1.57%, while Tezos rose by 1.20%, and Ethereum gained 1.06%. Bitcoin Cash ABC also climbed up by 1.23%, and Binance Coin increased by 1.11%. Meanwhile, Monero’s XMR lowered by 0.15%.

On the other hand, major digital coins ended Sunday’s session in the red. Cardano’s ADA suffered the most, collapsing by 6.80%. Bitcoin Cash ABC plummeted down by 5.47%, and Litecoin shaved off 4.08%. Meanwhile, Monero’s XMR tumbled down by 4.06%, with Stellar’s Lumen, Tezos, and Tron’s TRX losing 4.74%, 4.31%, and 5.15%, respectively.

Several others saw relatively modest losses. Binance Coin declined by 3.09%, while Bitcoin Cash SV fell by 3.77%, and EOS dropped down by 2.84%. Ethereum and Ripple’s XRP also lost 3.38% and 3.27%, respectively.

Sunday’s sell-off caused mixed results for the last week. Cardano’s ADA and Tezos gained 0.20% and 0.81% respectively, over the week, while the other cryptos ended on bearish territory.

The crypto total market cap climbed up to $268.50bn, before dropping to a Sunday low of $239.63bn. The total market cap stood at $242.29bn on Monday.

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