The Crypto Daily – Movers and Shakers – May 9th, 2021

A mixed start to the day saw Bitcoin fall to an early morning intraday low $56,939.0 before making a move.

Steering clear of the first major support level at $55,554, Bitcoin rallied to a late intraday high $59,450.0.

Bitcoin broke through the first major resistance level at $58,889 before easing back to sub-$59,000 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 Saturday.

Ethereum rallied by 12.41% to lead the way, with Binance Coin (+3.59%) and Litecoin (+0.71%), also joining Bitcoin in the green.

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

Bitcoin Cash SV fell by 3.23% to lead the way down,

Cardano’s ADA (-1.87%) Chainlink (-0.95%), Coin (-2.93%), Polkadot (-2.50%), and Ripple’s XRP (-1.01%) also saw red.

In the current 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 $2,332bn.

Bitcoin’s dominance rose to a Monday high 49.39% before falling to a Thursday low 44.65%. At the time of writing, Bitcoin’s dominance stood at 46.10%.