The Crypto Daily – Movers and Shakers – July 12th, 2021

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Updated: Jul 12, 2021, 01:17 UTC

It's a mixed start to the week for the majors. A Bitcoin move back through to $34,500 levels would deliver support to the broader market, however.

Kiev, Ukraine, March, 13, 2018: Coins of different crypto-currencies with dollars

The Rest of the Pack

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

Bitcoin Cash SV and Polkadot bucked the trend, falling by 0.26% and by 0.89% respectively.

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

Crypto.com Coin rallied by 7.02% to lead the way.

Binance Coin (+1.81%), Ethereum (+1.43%), and Ripple’s XRP (+1.43%) weren’t far behind.

Cardano’s ADA (+0.90%), Chainlink (+0.83%), and Litecoin (+0.17%) trailed the front runners, however.

It was also a mixed week for the majors.

Binance Coin and Crypto.com Coin rose by 2.60% and by 4.61% respectively to buck the trend.

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

Ripple’s XRP slid by 8.75% to lead the way down.

Bitcoin Cash SV (-6.74%), Cardano’s ADA (-7.74%), Chainlink (-4.66%), Ethereum (-7.85%), and Litecoin (-7.37%) also struggled.

Polkadot fell by a modest 0.20%, 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 $1,369bn.

Bitcoin’s dominance fell to a Thursday low 44.48% before rising to a Sunday high 46.22%. At the time of writing, Bitcoin’s dominance stood at 45.96%.

This Morning

At the time of writing, Bitcoin was down by 0.24% to $34,163.0. A mixed start to the day saw Bitcoin rise to an early morning high $34,360.0 before falling to a low $34.094.0.

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

Elsewhere, it was a mixed start to the day.

Crypto.com Coin bucked the trend at the start of the day, rising by 1.11%.

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

At the time of writing, Chainlink was down by 0.99% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $34,050 pivot to bring the first major resistance level at $34,784 into play.

Support from the broader market would be needed for Bitcoin to break out from Sunday’s high $34,590.0.

Barring a broad-based crypto rebound, the first major resistance level and resistance at $35,000 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 $35,324.

A fall through the $34,050 pivot would bring the first major support level at $33,510 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$33,000 levels. The second major support level sits at $32,776.

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.