The Crypto Daily – Movers and Shakers – April 24th, 2021

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Updated: Apr 24, 2021, 00:51 UTC

It's a mixed start to the day for the majors. A Bitcoin move back through to $52,000 levels would be needed to steady the crypto market.

Pattern of coins LTC, ETH, BTC, XMR, XRP on a dark background. Business concept.

The Rest of the Pack

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

Binance Coin (+4.42%), Cardano’s ADA (+1.35%), Chainlink (+0.06%), and Ripple’s XRP (+1.29%) bucked the trend on the day.

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

Crypto.com Coin tumbled by 12.19% to lead the way down.

Bitcoin Cash SV (-6.75%) and Litecoin (-4.38%) also saw heavy losses

Ethereum (-1.22%) and Polkadot (-0.92%) saw relatively modest losses on the day.

In the current week, the crypto total market rose to a Monday high $2,100bn before sliding to a Friday low $1,643bn. At the time of writing, the total market cap stood at $1,839.

Bitcoin’s dominance rose to a Tuesday high 54.32% before falling to a Thursday low 50.03%. At the time of writing, Bitcoin’s dominance stood at 51.51%.

This Morning

At the time of writing, Bitcoin was down by 0.85% to $50,705.0. A mixed start to the day saw Bitcoin rise to an early morning high $51,201.0 before falling to a low $50,486.2.

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

Elsewhere, it was a mixed start to the day.

Crypto.com Coin bucked the trend early on, rising by 2.16%.

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

At the time of writing, Ripple’s XRP was down by 2.01% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the 23.6% FIB of $50,473 and the $50,276 pivot to bring the first major resistance level at $52,993 into play.

Support from the broader market would be needed for Bitcoin to break back through to $52,000 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $52,131 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $55,000 before any pullback. The second major resistance level sits at $54,487.

Failure to avoid a fall through the 23.6% FIB and the $50,276 pivot would bring the first major support level at $48,422 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$47,000 levels. The second major support level sits at $45,705.

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.