The Crypto Daily – Movers and Shakers -31/05/20

Bitcoin rose by 2.98% on Saturday. Partially reversing a 1.68% fall from Friday, Bitcoin ended the day at $9,706.4.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $9,323.3 before finding support.

Steering clear of the first major support level at $9,312.47, Bitcoin struck a mid-morning high $9,618.8 before hitting reverse.

Bitcoin broke through the first major resistance level at $9,579.27 before falling back to sub-$9,500 levels and into the red.

Finding late support from the broader market, Bitcoin bounced back to a late intraday high $9,750.0.

Bitcoin broke back through the first major resistance level before easing back. The second major resistance level at $9,732.43 pinned Bitcoin back late in the day.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from the 62% FIB of $10,034 to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish day for the majors on Saturday.

Cardano’s ADA and Ethereum surged by 18.80% and by 10.56% to lead the way on the day.

Bitcoin Cash ABC (+6.82%), Bitcoin Cash SV (+6.58%), EOS (+5.93%), Litecoin (+7.30%), Stellar’s Lumen (+7.81%), Tron’s TRX (+9.26%) also made solid gains.

Binance Coin (+4.35%), Monero’s XMR (+3.64%), Ripple’s XRP (+4.83%), and Tezos (+1.82%) trailed the front runners.

In the current week, the crypto total market cap fell to an early Monday low $238.04bn before rising to a late Saturday high $272.67bn. At the time of writing, the total market cap stood at $268.41bn.

Bitcoin’s dominance saw a Thursday 69.54% spike before sliding to a Saturday current week low 65.81%. At the time of writing, Bitcoin’s dominance stood at 66.11%.