The Crypto Daily – Movers and Shakers – April 21st, 2021

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Updated: Apr 21, 2021, 00:56 UTC

It's a bullish start to the day for the majors. A Bitcoin move through to $57,500 levels would support a breakout day for the broader market.

The Rest of the Pack

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

Crypto.com Coin and Litecoin slipped by 0.26% and by 0.73% respectively to buck the trend on the day.

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

Binance Coin jumped by 16.49% to lead the way.

Cardano’s ADA (+6.08%), Chainlink (+9.12%), Ethereum (+7.81%), and Ripple’s XRP (+5.76%) also found strong support.

Bitcoin Cash SV (+2.95%) and Polkadot (+0.59%), trailed the front runners, however.

Early in the week, the crypto total market rose to a Monday high $2,100bn before sliding to a Tuesday low $1,837bn. At the time of writing, the total market cap stood at $2,043bn.

Bitcoin’s dominance fell to a Monday low 51.28% before rising to a Tuesday high 54.32%. At the time of writing, Bitcoin’s dominance stood at 51.89%.

This Morning

At the time of writing, Bitcoin was up by 0.41% to $56,702.0. A mixed start to the day saw Bitcoin fall to an early morning low $56,353.0 before rising to a high $56,790.0.

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

Elsewhere, it was a bullish start to the day.

At the time of writing, Crypto.com Coin was up by 3.93% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the pivot level at $55,636 to bring the first major resistance level at $57,935 into play.

Support from the broader market would be needed for Bitcoin to break out from Tuesday’s high $57,099.0.

Barring an extended crypto rally, the first major resistance level and resistance at $58,000.0 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $60,000 before any pullback. The second major resistance level sits at $59,398.

Failure to avoid a fall through the $55,636 pivot would bring the first major support level at $54,173 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$53,000 levels. The second major support level sits at $51,874.

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.