Market Analysis

Members Breakdown - 17 June 2021

Updated: Jul 25, 2024

Published: Jun 18, 2021

This mainly applies to less experienced traders who trade the chop which is always best to be awaited to clearly end by a confirmed breakout.

BTC

This is why confirmations are very important. Price has not closed above the upper bound on the daily timeframe yet which meant price wasn't in the clear just yet. For now, BTC is still in the same range.

ETH

ETH has closed a daily candle under $2,500 once again which means no upside until a reclaim takes place. Price has been quite indecisive in this range as market participants try to "guess" the future direction and hence keep buying then selling and vice-versa.

RUNE

RUNE now ranging between two key levels: $8.85 & $10.35. Personally, we are long-term investors in RUNE and hence we don't play this price action. However, one strategy is to long support with invalidation by closure under it and taking profit at resistance: Range Trading.

SNX

No changes to SNX as it has not reclaimed $11. Unless the latter occurs, SNX is poised to test $7.50.

DOT

Still in the same range and rangebound like the remainder of this market. TLDR: Boredom until a breakout

SRM

SRM is also ranging between $~5 and $3.79.

SOL

Still amazed by the recovery because this communicates that if the market breaks out, SOL would likely be in price discovery while the remainder of the market is in price recovery. $40.75 is still the level of tackle for a test of $50.

Total CRYPTO Market Cap

This remains our market denominator and gauge for what will take place next. The breakout from the market must be confirmed on this index (i.e. must see the same breakout here for it to be confirmed)

Disclaimer: NOT FINANCIAL NOR INVESTMENT ADVICE. Only you are responsible for any capital-related decisions you make and only you are accountable for the results.

Get started for free

Create your free account or log in to read the full article.

I agree to receive onboarding links and appointment reminders from Cryptonary via SMS.

By signing up, you agree to our Terms & Conditions

Recommended from Cryptonary

Market Pulse

Market Pulse: Bitcoin's Security Un...Speculation around quantum computing threats to Bitcoin is ramping up, shaking confidence just as ri...

2 min read

Dec 19, 2025

PRO

Livestreams

AMA with Adam & Abror: 18th decembe...In this conversation, Abror and Adam discuss the recent inflation data and its impact on the market,...

1 min read

Dec 19, 2025

PRO

Market Pulse

Market Pulse: Inflation Data is Out...Inflation came in well below expectations, shifting focus from price pressures to the labour market....

4 min read

Dec 18, 2025