The Crypto Daily – Movers and Shakers – October 26th, 2020 – FX Empire

It was another mixed start to the day. Bitcoin rose to an early morning intraday high $13,358.0 before hitting reverse.

Breaking through the first major resistance level at $13,243, Bitcoin came up against the second major resistance level at $13,358.

The reversal saw Bitcoin slide through the first major support level at $12,945 to a mid-morning intraday low $12,850.0

Finding support through the rest of the day, Bitcoin recovered to $13,000 levels to limit the loss on the day.

The near-term bullish trend remained intact, supported by the latest move through to $13,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Sunday.

Bitcoin Cash SV rallied by 8.16%, with Polkadot rising by 0.30% to buck the trend on the day.

It was a bearish end to the week for the rest of the majors.

Chainlink and Coin slid by 4.29% and by 4.63% respectively to lead the way down.

Binance Coin (-1.60%), Bitcoin Cash ABC (-1.50%), Cardano’s ADA (-1.39%), Ethereum (-1.48%), and Ripple’s XRP (-1.20%) also struggled.

Litecoin (-0.62%) saw a relatively modest loss on the day.

For the week ending 25th October, it was also a mixed bag.

Litecoin surged by 23.73% to lead the way.

Bitcoin Cash ABC (+9.32%), Bitcoin Cash SV (+13.38%), Chainlink (+11.07%), Ethereum (+7.37%), and Ripple’s XRP (+4.52%) also found strong support.

It was a bearish week for the rest of the pack, however.

READ  Litecoin’s Charlie Lee says Ripple has used the ‘fake it until you make it’ strategy - AMBCrypto Coin tumbled by 18.53% to lead the way down.

Binance Coin (-1.73%), Cardano’s ADA (-1.00%), and Polkadot (-6.72%) also struggled in the week.

In the week, the crypto total fell to a Tuesday low $347.73bn before surging to a Sunday high $403.12bn. At the time of writing, the total market cap stood at $391.33bn.

Bitcoin’s dominance fell to a Wednesday low 57.52% before rising to a Thursday high 62.46%. At the time of writing, Bitcoin’s dominance stood at 61.73%.



Please enter your comment!
Please enter your name here