The Crypto Daily – Movers and Shakers – August 28th, 2020
A bearish start to the day saw Bitcoin fall to a mid-day low $11,290 before making a move.
Steering clear of the first major support level at $11,279, Bitcoin struck an early afternoon intraday high $11,609.0.
Coming up against the first major resistance level at $11,605, Bitcoin slid to a late afternoon intraday low $11,145.0.
Bitcoin fell through the first major support level at $11,279 before recovering to $11,300 levels.
The near-term bullish trend remained intact, supported by the latest move through to $12,000 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 for the majors on Thursday.
Binance Coin and Monero’s XMR bucked the trend on the day, rising by 4.05% and by 0.72% respectively.
It was a bearish day for the rest of the pack, however.
Cardano’s ADA slid by 6.21% to lead the way down.
Bitcoin Cash ABC (-4.60%), Bitcoin Cash SV (-4.07%), EOS (-4.47%), Litecoin (-3.44%), Ripple’s XRP (-4.37%), Stellar’s Lumen (-4.44%), Tezos (-4.32%), also saw heavy losses.
Ethereum (-0.74%) and Tron’s TRX (-2.12%) saw relatively modest losses on the day.
In the current week, the crypto total market rose to a Monday high $360.52bn before falling to a Tuesday low $329.92bn. At the time of writing, the total market cap stood at $338.20bn.
Bitcoin’s dominance fell to a Monday low 60.80% before rising to a Tuesday high 62.13%. At the time of writing, Bitcoin’s dominance stood at 61.77%.