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Bitcoin: prices fall below $55,000
Bitcoin: prices fall below $55,000
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Bitcoin: prices fall below $55,000

By Federico Izzi - 21 Apr 2021

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Bitcoin is leading the decline, losing about 2% today, with prices plunging below $55,000

coin360 20210421
Source: COIN360.com

Dogecoin (DOGE) has also fallen sharply and remains a victim of speculation. After the strong rises of recent days, it is now experiencing a descent of more than 25%

In contrast, Binance’s token, Binance Coin (BNB), which is bucking the trend, has posted a double-digit rise, taking its price back above $600

The strong price hikes of the past few days have kept volumes well above the daily average of trading over the past month, although lower than in the past three days. Total volumes over the past 24 hours are just over $650 billion. 

Bitcoin’s dominance continues to make headlines, falling below 51% for the first time since late March 2019. 

Ethereum is on the rise today, pushing its market share above 13%, its highest peak since mid-February.

DeFiPulse 20210421

DeFi’s TVL tries to consolidate above $55 billion. Maker regained the top spot on the podium, climbing above $9 billion in locked collateral, a step away from the records set last week, when it topped $9.5 billion for the first time.

BTC 20210421
Bitcoin chart by Tradingview

Bitcoin (BTC) below $55,000

The rebound that started from Sunday’s lows did not find the necessary confirmation to push prices to the 59,000 area. In the last few hours, prices have fallen back below $55,000, testing the mid-March supports in the $54,000 area.

In this context, it is necessary to determine the holding of the $53,200 area, a short-term support.  In the event of a push below this level, the possibility of revisiting Sunday’s lows in the $50,500 area opens up. 

ETH 20210421
Ethereum chart by Tradingview

Ethereum (ETH)

Ethereum is holding up better on the rebound that sees prices holding above $2,200. The holding of this level at the moment removes the dangers of a possible return below $ 1,900, a reference level in the medium and long term. 

 

Federico Izzi
Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. He was interviewed as a cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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