The Crypto Daily – Movers and Shakers – April 3rd, 2021

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Updated: Apr 3, 2021, 02:44 UTC

It's a mixed start to the day, with Ethereum struggling early on. A Bitcoin move back through to $60,000 would support another breakout day for the majors.

The Rest of the Pack

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

Polkadot rallied by 9.16% to lead the way, with Bitcoin Cash SV (+7.06%), Chainlink (+7.90%), and Ethereum (+8.43%) also making solid gains.

Binance Coin (+1.15%), Cardano’s ADA (+0.72%), Crypto.com Coin (+2.09%), Litecoin (+4.32%), and Ripple’s XRP (+6.00%) trailed the front runners.

In the current week, the crypto total market fell to a Monday low $1,671bn before rising to a Friday high $1,929bn. At the time of writing, the total market cap stood at $1,892bn.

Bitcoin’s dominance rose to a Wednesday high 61.34% before falling to a Friday low 58.16%. At the time of writing, Bitcoin’s dominance stood at 58.61%.

This Morning

At the time of writing, Bitcoin was up by 0.61% to $59,321.0. A mixed start to the day saw Bitcoin fall to an early morning low $58,944.0 before rising to a high $59,430.0.

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

Elsewhere, it was a mixed start to the day for the majors.

Ethereum bucked the trend early on, falling by 0.98%.

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

At the time of writing, Polkadot was up by 7.06% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $59,159 to bring the first major resistance level at $60,000 into play.

Support from the broader market would be needed for Bitcoin to break out from $59,500 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $60,190.0 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at 14^th March swing hi $61,699.0 before easing back. The second major resistance level sits at $61,021.

Failure to avoid a fall through the $59,159 pivot would bring the first major support level at $58,128 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$58,000 support levels. The second major support level sits at $57,297.

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.