The Crypto Daily – Movers and Shakers – June 28th, 2021

By:

Bob Mason

Published: Jun 28, 2021, 00:54 UTC

After a bullish end to the week, a Bitcoin move through to $35,500 levels would support the broader market.

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 bucked the trend on the day, falling by 3.74%,

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

Chainlink (+8.53%), Crypto.com Coin (+8.60%), and Ethereum (+8.51%) led the way.

Bitcoin Cash SV (+5.52%), Cardano’s ADA (+6.81%), Litecoin (+4.66%), and Ripple’s XRP (+5.04%) also found strong support.

Binance Coin rose by a more modest 3.99%, however.

It was also a bearish week for the crypto markets.

Polkadot tumbled by 25.34% to lead the way down, with Ripple’s XRP sliding by 16.30%.

Binance Coin (-14.19%), Bitcoin Cash SV (-14.94%), Chainlink (-15.03%), Ethereum (-11.51%), and Litecoin (-14.33%) also saw heavy losses.

Cardano’s ADA (-6.18%) and Crypto.com Coin (-1.92%) saw relatively modest losses in the week, however.

In the 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 $1,367bn.

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 47.76%.

This Morning

At the time of writing, Bitcoin was up by 0.17% to $34,804.0. A mixed start to the day saw Bitcoin rise to an early morning high $34,881.0 before falling to a low $34,479.4.

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

Elsewhere, it was a mixed start to the day.

Cardano’s ADA (-0.04%), Chainlink (-0.33%), and Litecoin (-0.55%) saw modest losses early on.

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

At the time of writing, Crypto.com Coin was up by 3.03% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $33,868 pivot to bring the first major resistance level at $35,670 into play.

Support from the broader market would be needed for Bitcoin to break back through to $35,000 levels.

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 $38,000. The second major resistance level sits at $36,596.

A fall through the $33,868 pivot would bring the first major support level at $32,942 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of the second major support level at $31,140.

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.