The Crypto Daily – Movers and Shakers – April 17th, 2021

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Updated: Apr 17, 2021, 01:54 UTC

It's a mixed start to the day for the majors, with Litecoin leading the way. A Bitcoin move back through to $63,000 levels would support the broader market.

The Rest of the Pack

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

Bitcoin Cash SV surged by 17.73% to lead the way, with Litecoin rallying by 7.89%.

It was a bearish day for the rest of the majors, however.

Ripple’s XRP slid by 11.92% to lead the way down

Binance Coin (-6.15%), Cardano’s ADA (-4.51%), and Ethereum (-3.59%) also struggled.

Chainlink (-1.40%), Crypto.com Coin (-0.97%), and Polkadot (-1.84%) saw relatively modest losses on the day.

In the current week, the crypto total market fell to a Monday low $1,959bn before rising to a Friday high $2,307bn. At the time of writing, the total market cap stood at $2,177bn.

Bitcoin’s dominance rose to a Monday high 56.61% before falling to a Friday low 51.50%. At the time of writing, Bitcoin’s dominance stood at 52.59%.

This Morning

At the time of writing, Bitcoin was down by 0.25% to $61,167.3. A mixed start to the day saw Bitcoin rise to an early morning high $61,675.0 before falling to a low $61,157.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV (-2.47%) and Crypto.com Coin (-0.64%) joined Bitcoin in the red to buck the early trend.

It was a bullish start for the rest of the majors, however.

At the time of writing, Litecoin was up by 2.09% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to move back through the pivot level at $61,616 to bring the first major resistance level at $63,226 into play.

Support from the broader market would be needed for Bitcoin to break back through to $63,000 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $63,520.0 would likely cap any upside.

In the event of another extended crypto rally, Bitcoin could test resistance at Wednesday’s swing hi $64,829.0 before any pullback. The second major resistance level sits at $65,131.

Failure to move back through the $61,616 pivot would bring the first major support level at $59,711 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of the second major support level at $58,101.

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.