The Crypto Daily – Movers and Shakers – July 10th, 2021

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Published: Jul 10, 2021, 00:40 UTC

After Friday's recovery, A Bitcoin move back through to $34,500 levels would be needed to support further upside for the crypto majors in the day ahead.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Friday.

Bitcoin Cash SV slid by 3.50%, with Polkadot declining by 0.42% to buck the trend on the day.

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

Crypto.com Coin rallied by 6.68% to lead the way, with Binance Coin (+2.23%) and Ripple’s XRP (+2.72%) finding strong support.

Chainlink (+1.52%), Cardano’s ADA (+1.70%), Ethereum (+1.47%), and Litecoin (+1.88%) trailed the front runners, however.

In the week, the crypto total market rose to a Wednesday high $1,476bn before falling to a Friday low $1,313bn. At the time of writing, the total market cap stood at $1,395bn.

Bitcoin’s dominance fell to a Thursday low 44.48% before rising to a Friday high 46.09%. At the time of writing, Bitcoin’s dominance stood at 45.77%.

This Morning

At the time of writing, Bitcoin was up by 0.62% to $33,980.0. A mixed start to the day saw Bitcoin fall to an early morning low $33,694.0 before rising to a high $34,015.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a bullish start to the day.

At the time of writing, Chainlink was up by 1.21% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $33,355 pivot to bring the first major resistance level at $34,473 into play.

Support from the broader market would be needed for Bitcoin to break out from Friday’s high $34,059.0.

Barring a broad-based crypto rebound, the first major resistance level would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $36,000 levels before any pullback. The second major resistance level sits at $35,177.

A fall through the $33,355 pivot would bring the first major support level at $32,651 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$32,000 levels. The second major support level sits at $31,533.

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.