The Crypto Daily – Movers and Shakers – June 14th, 2021

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Published: Jun 14, 2021, 01:01 UTC

It's been a mixed start to the day for the majors. A Bitcoin move back through to $40,000 would support another broad-based crypto rally.

Pattern of coins LTC, ETH, BTC, XMR, XRP on a dark background. Business concept.

The Rest of the Pack

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

Polkadot fell by 3.22% to buck the trend on the day.

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

Chainlink rallied by 7.90% to lead the way.

Binance Coin (+6.45%) and Ripple’s XRP (+6.20%) weren’t far behind.

Bitcoin Cash SV (+3.25%), Cardano’s ADA (+5.25%), Ethereum (+5.83%), and Litecoin (+5.66%) also found strong support, while Crypto.com Coin (+0.89%) trailed.

While it was a bullish end to the week, it was a bearish week for the majors.

Polkadot and Chainlink led the way down, sliding by 16.39% and by 15.16% respectively.

Binance Coin (-7.06%), Bitcoin Cash SV (-6.83%), Cardano’s ADA (-7.17%), Crypto.com Coin (-8.51%), Ethereum (-7.40%), and Ripple’s XRP (-6.67%) also struggled.

Litecoin saw a more modest 3.04% loss in the week, however.

In the week, the crypto total market rose to a Monday high $1,670bn before falling to a Tuesday low $1,374bn. At the time of writing, the total market cap stood at $1,606bn.

Bitcoin’s dominance fell to a Monday low 41.28% before rising to a Friday high 45.65%. At the time of writing, Bitcoin’s dominance stood at 45.52%.

This Morning

At the time of writing, Bitcoin was up by 0.03% to $39,008.9. A mixed start to the day saw Bitcoin rise to an early morning high $39,235.9 before falling to a low $38,782.0.

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

Elsewhere, it was a mixed start to the day.

Crypto.com Coin found support early on, rallying by 6.11% to join Bitcoin in the green.

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

At the time of writing, Polkadot was down by 0.67% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $37,724 pivot to bring the first major resistance level at $40,649 into play.

Support from the broader market would be needed for Bitcoin to break out from Sunday’s high $39,374.0.

Barring a broad-based crypto rally, the first major resistance level and resistance at $41,000 would likely cap any upside.

In the event of another extended crypto rally, Bitcoin could test resistance at $43,000 before any pullback. The second major resistance level sits at $42,298. Bitcoin would need plenty of support, however, to breakout from the 38.2% FIB of $41,592.

A fall through the $37,724 pivot would bring the first major support level at $36,075 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$35,000 levels. The second major support level sits at $33,150.

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.