The Crypto Daily – Movers and Shakers – May 10th, 2021

A mixed start to the day saw Bitcoin rise to an early morning intraday high $59,236.5 before hitting reverse.

Falling short of the first major resistance level at $59,918, Bitcoin slid to a mid-day intraday low $56,255.0.

Bitcoin fell through the first major support level at $57,407 before a late move back through to $58,000 levels.

The near-term bullish trend remained intact supported by the latest visit to $59,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Sunday. Coin slid by 5.88% to lead the way down, with Bitcoin Cash SV (-1.57%) and Ripple’s XRP (-1.80%) also joining Bitcoin in the red.

It was a bullish end to the week for the rest of the majors, however.

Cardano’s ADA and Litecoin rallied by 8.88% and by 11.66% respectively to lead the way, with Chainlink (+7.40%) also finding strong support.

Binance Coin (+2.37%), Ethereum (+0.29%), and Polkadot (+2.07%) also avoided the red.

It was also a mixed week for the cryptos in the week ending 9th May. Coin (-6.08%) and Ripple’s XRP (-1.65%) saw red to buck the trend for the week.

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

Litecoin led the way, surging by 44.30%.

Binance Coin (+23.05%), Cardano’s ADA (+33.16%), Chainlink 32.37%, and Ethereum (+33.07%) also found strong support.

Bitcoin Cash SV (+7.55%) and Polkadot (+6.93%) trailed the front runners, however.

In the week, the crypto total market fell to a Tuesday low $2,064bn before rising to a Saturday high $2,482bn. At the time of writing, the total market cap stood at $2,395bn.

Bitcoin’s dominance rose to a Monday high 49.44% before falling to a Thursday low 44.65%. At the time of writing, Bitcoin’s dominance stood at 45.43%.