The Crypto Daily – Movers and Shakers – 10/02/20

In This Article:

Bitcoin rallied by 2.77% on Sunday. Following on from a 0.73% gain on Saturday, Bitcoin ended the week up by 8.53% to $10,151.0.

A bullish start to the day saw Bitcoin rally from an early morning intraday low $9,871.1 to a mid-morning intraday high $10,165.0.

Bitcoin broke through the first major resistance level at $9,979.4 and the second major resistance level at $10,081.6.

A mid-afternoon pullback saw Bitcoin fall back through the major resistance levels before bouncing back.

The late bounce back saw Bitcoin break back through the first and second major resistance levels to wrap up the day at $10,100 levels.

Bitcoin steered well clear of the major support levels throughout the day.

The near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact, however, in spite of the upward momentum.

For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the top 10 cryptos, it was a bullish end to the week for the crypto majors.

Tezos and Binance Coin led the way with rallies of 15.04% and 11.87% respectively.

Bitcoin Cash SV (+4.15%), EOS (+5.22%), and Monero’s XMR (+8.63%) also made strong gains.

Bitcoin Cash ABC (+0.79%), Cardano’s ADA (+3.36%), Ethereum (+2.44%), Litecoin (+0.51%), Ripple’s XRP (+1.92%), Stellar’s Lumen (+2.38%), and Tron’s TRX (+1.13%) saw more modest gains.

For the week, Binance Coin and Tezos led the way, with gains of 32.74% and 37.82% respectively. In the week, Tezos returned to the top 10 by market cap.

Bitcoin Cash ABC (+19.80%), Bitcoin Cash SV (+26.6%), EOS (+18.38%), Ethereum (+21.56%), Monero’s XMR (+17.28%), Stellar’s Lumen (+15.30%), and Tron’s TRX (+15.55%) also made particularly strong gains.

Cardano’s ADA (11.48%), Litecoin (+10.34%), and Ripple’s XRP (+12.30%) trailed the pack in the week.

Through the current week, the crypto total market cap rose from a Tuesday low $254.52bn to a Sunday high $289.97bn. At the time of writing, the total market cap stood at $290.50bn.

Having fallen back from 66% levels, Bitcoin’s dominance slipped further back to sub-64% levels over the weekend. More marked gains across the broader market pinned Bitcoin back. At the time of writing, Bitcoin’s dominance stood at 63.6%.

Trading volumes were on the up, rising to $146bn levels on Thursday before easing back. At the time of writing, 24-hr volumes stood at $132.73bn.

This Morning

At the time of writing, Bitcoin was down by 0.06% to $10,145.0. A bearish start to the day saw Bitcoin fall from an early morning high $10,187.0 to a low $10,129.0.