The Crypto Daily – Movers and Shakers – May 5, 2021

The Crypto Daily - Movers and Shakers - May 5, 2021

Binance Coin (-9.99%), Cardano’s ADA (-6.75%), and Ethereum (-5.65%) also struggled. Bitcoin Cash SV (-12.62%), Crypto.com Coin (-10.36%), and Ripple’s XRP (-10.85%) led the way down. Chainlink (+8.34%), Litecoin (+3.59%), and Polkadot (+0.35%) bucked the trend on the day, however.

The Rest of the Pack The near-term bullish trend remained intact in spite of the slide back to $53,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $27,237 to form a near-term bearish trend.

Across the rest of the majors, it was a mixed day on Monday. The extended sell-off saw Bitcoin fall through the first major support level at $56,124 and the second major support level at $55,100.

At the time of writing, Bitcoin was up by 3.85% to $55,300.0. A mixed start to the day saw Bitcoin fall to an early morning low $52,960.0 before rising to a high $55,425.0. Bitcoin left the major support and resistance levels untested early on. This Morning

Bitcoin’s dominance rose to a Monday high 49.39% before falling to a Tuesday low 46.04%. At the time of writing, Bitcoin’s dominance stood at 46.62%. Early in the week, the crypto total market rose to a Monday high $2,331bn before falling to a Tuesday low $2,064bn. At the time of writing, the total market cap stood at $2,216bn.

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