The Crypto Daily – Movers and Shakers – March 29th, 2021

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Published: Mar 29, 2021, 01:14 UTC

It's a mixed start to the day for the majors. A Bitcoin move back through to $56,000 levels would deliver support.

The Rest of the Pack

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

Cardano’s ADA (+1.10%), Crypto.com Coin (+0.25%), Litecoin (+0.09%), and Ripple’s XRP (+0.05%) bucked the trend on the day.

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

Bitcoin Cash SV slid by 3.41% to lead the way down.

Binance Coin (-0.23%), Chainlink (-0.72%), Ethereum (-1.58%), and Polkadot (-0.95%) also saw red on the day.

For the week, it was also a mixed week for the majors.

Binance Coin (+1.45%), Cardano’s ADA (+0.28%), and Ripple’s XRP (+5.89%) bucked the trend in the week.

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

Chainlink (-8.78%), Crypto.com Coin (-6.89%), and Polkadot (-9.62%) led the way down.

Bitcoin Cash SV (-2.19%), Ethereum (-5.45%), and Litecoin (-5.80%) also joined Bitcoin in the red.

In the week, the crypto total market rose to a Monday high $1,802bn before sliding to a Thursday low $1,517bn. At the time of writing, the total market cap stood at $1,703bn.

Bitcoin’s dominance rose to a Wednesday high 62.24% before falling to a Friday low 60.09%. At the time of writing, Bitcoin’s dominance stood at 60.91%.

This Morning

At the time of writing, Bitcoin was down by 0.39% to $55,563.0. A mixed start to the day saw Bitcoin rise to an early morning high $55,908.1 before falling to a low $55,563.0.

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

Elsewhere, it was a mixed start to the day.

Ripple’s XRP was up by 0.45% to buck the trend on the day.

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

At the time of writing, Crypto.com Coin was down by 1.39% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to move back through the pivot level at $55,730 to bring the first major resistance level at $56,659 into play.

Support from the broader market would be needed for Bitcoin to break out from Sunday’s high $56,609.0.

Barring an extended crypto rally, the first major resistance level and resistance at $57,000 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $58,000 before any pullback. The second major resistance level sits at $57,539.

Failure to move back through the $55,730 pivot would bring the first major support level at $54,850 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of the second major support level at $53,921.

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.