The Crypto Daily – Movers and Shakers – June 27th, 2021

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Updated: Jun 27, 2021, 00:34 UTC

Following a mixed day for the broader market on Saturday, a Bitcoin move back through to $33,000 levels would deliver support.

The Rest of the Pack

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

Chainlink (+0.21%), Ethereum (+1.11%), Litecoin (+1.47%), and Ripple’s XRP (+0.81%) saw relatively modest gains on the day, supported by a final hour recovery.

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

Bitcoin Cash SV and Crypto.com Coin fell by 4.91% and by 4.37% to lead the way down.

Binance Coin (-0.42%), Cardano’s ADA (-0.05%), and Polkadot (-1.56%) also saw red.

In the current week, the crypto total market rose to a Monday high $1,488bn before falling to a Tuesday low $1,127bn. At the time of writing, the total market cap stood at $1,284bn.

Bitcoin’s dominance fell to a Monday low 45.03% before rising to a Wednesday high 48.26%. At the time of writing, Bitcoin’s dominance stood at 47.21%.

This Morning

At the time of writing, Bitcoin was up by 0.33% to $32,462.2. A mixed start to the day saw Bitcoin fall to an early morning low $32,066.0 before rising to a high $32,485.0.

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, Bitcoin Cash SV was up by 5.01% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $31,741 pivot to bring the first major resistance level at $33,276 into play.

Support from the broader market would be needed for Bitcoin to break out from Saturday’s high $32,661.0.

Barring a broad-based crypto rebound, the first major resistance level and resistance at $33,500 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $35,000. The second major resistance level sits at $34,196.

A fall through the $31,741 pivot would bring the first major support level at $30,821 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of the second major support level at $29,286.

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.