The Crypto Daily – Movers and Shakers – June 21st, 2021

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Updated: Jun 21, 2021, 00:53 UTC

It's a mixed start to the week for the crypto majors. A Bitcoin fall back to sub-$35,000 levels would send the broader market into the deep red.

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 Crypto.com Coin slid by 4.36% and by 5.78% to buck the trend on the day.

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

Chainlink rallied by 6.79% to lead the way.

Cardano’s ADA (+2.97%) and Ethereum (+3.59%) also found strong support.

Binance Coin (+1.53%), Litecoin (+1.50%), Polkadot (+1.75%), and Ripple’s XRP (+2.07%) trailed the front runners, however.

It was also a mixed week for the majors, in the week ending 20^th June.

Polkadot bucked the trend in the week, rising by 2.62%.

It was a bearish week for the rest of the majors, however, which joined Bitcoin in the red.

Ripple’s XRP slid by 12.32% to lead the way down, with Ethereum and Litecoin falling by 10.65% and by 9.44% respectively.

Binance Coin (-7.35%), Bitcoin Cash SV (-8.95%), Cardano’s ADA (-8.41%), Chainlink (-7.26%), and Crypto.com Coin (-7.62%) also struggled, however.

In the week, the crypto total market rose to a Tuesday high $1,708bn before falling to a Sunday low $1,367bn. At the time of writing, the total market cap stood at $1,462bn.

Bitcoin’s dominance rose to a Wednesday high 46.26% before falling to a Sunday low 45.04%. At the time of writing, Bitcoin’s dominance stood at 45.25%.

This Morning

At the time of writing, Bitcoin was down by 0.79% to $35,351.0. A mixed start to the day saw Bitcoin rise to an early morning high $35,832.0 before falling to a low $35,332.0.

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

Elsewhere, it was a mixed start to the day.

Crypto.com Coin found early support, rising by 2.40%.

It’s been a bearish start for the rest of the majors, however.

At the time of writing, Ripple’s XRP and Chainlink were down by 1.38% and by 1.33% respectively to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $35,090 pivot to bring the first major resistance level at $36,768 into play.

Support from the broader market would be needed for Bitcoin to break out from Sunday’s high $36,226.4.

Barring a broad-based crypto rally, the first major resistance level and resistance at $37,000 would likely cap any upside.

In the event of another extended crypto rally, Bitcoin could test resistance at $39,000 before any pullback. The second major level sits at $37,905.

A fall through the $35,090 pivot would bring the first major support level at $33,953 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of the second major support level at $32,274.

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.