The Crypto Daily – Movers and Shakers – February 7th, 2021

Crypto News

The Crypto Daily – Movers and Shakers – February 7th, 2021


A mixed start to the day saw Bitcoin fall to an early morning intraday low $38,205.0 before making a move.

Steering clear of the first major support level at $37,099, Bitcoin rallied to a late afternoon intraday high $40,985.0.

Bitcoin broke through the first major resistance level at $38,894 and the second major resistance level at $39,527.

Falling short of the third major resistance level at $41,321 and the swing hi $41,969 Bitcoin fell back to end the day at sub-$40,000.

The near-term bullish trend remained intact, supported by the latest revisit to $40,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $18,504 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.

Cardano’s ADA surged by 18.32% to lead the way.

Binance Coin  (+7.82%), Bitcoin Cash SV (+0.99%), Crypto.com Coin (+3.87%), and Litecoin (+0.38%) also found support

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

Chainlink and Polkadot slid by 4.93% and by 4.49% respectively to lead the way down.

Ethereum and Ripple’s XRP saw relatively modest losses of 2.40% and 1.84% respectively.

In the current week, the crypto total market cap fell to a Monday low $938.94bn before rising to a Saturday high $1,256.34bn. At the time of writing, the total market cap stood at $1,158.73bn.

Bitcoin’s dominance rose to a Monday high 64.11% before sliding to a Friday low 60.27%. At the time of writing, Bitcoin’s dominance stood at 62.19%.



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