The Crypto Daily – Movers and Shakers – February 28th, 2021

Crypto News

The Crypto Daily – Movers and Shakers – February 28th, 2021

A mixed start to the day saw Bitcoin fall to an early morning low $46,173.0 before making a move.

In spite of the early pullback, Bitcoin avoided the 23.6% FIB of $45,501 and the first major support level at $44,083.

Finding early morning support, Bitcoin rose to a mid-morning intraday high $48,407.0 before hitting reverse.

Coming within range of the first major resistance level at $48,497, Bitcoin slid back to sub-$47,000 levels.

After a range-bound afternoon and a return to $47,000 levels, a bearish end to the day left Bitcoin in the red.

A late sell-off saw Bitcoin fall to an intraday low $45,511.0. Bitcoin fell through the 23.6% FIB of $45,501 before wrapping up the day at $46,200 levels.

The near-term bullish trend remained intact in spite of the current week reversal. For the bears, Bitcoin would need to slide through the 62% FIB of $24,751 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. Coin fell by 5.55% to join Bitcoin in the red.

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

Polkadot rallied by 6.73% to lead the way, with Cardano’s ADA (+5.64%) and Chainlink (+4.16%) also finding strong support.

Binance Coin (+1.53%), Ethereum (+1.07%), Litecoin (+1.02%), and Ripple’s XRP (+1.82%) saw relatively modest gains on the day.

Bitcoin Cash SV ended the day flat.

In the current week, the crypto total market cap rose to a Monday high $1,748.98bn before sliding to a Tuesday low $1,291.06bn. At the time of writing, the total market cap stood at $1,394.46bn.

Bitcoin’s dominance rose to a Tuesday high 64.74% before falling to a Saturday low 60.94%. At the time of writing, Bitcoin’s dominance stood at 61.57%.

Source link

Tags :
Share This :