Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 19/01/20

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Binance Coin

Binance Coin surged by 19.4% in the week ending 18th January. Following on from an 8.04% rally from the previous week, Binance Coin ended the week at $17.79.

A mixed start to the week saw Binance Coin breakthrough to a Sunday high $15.55 before hitting reverse.

Falling short of the major resistance levels, Binance Coin fell to a Tuesday intraweek low $14.70 before making a move.

Steering clear of the first major support level at $13.97, Binance Coin rallied to a Friday intraweek high $18.72.

Binance Coin broke through the major resistance levels to come up against the 23.6% FIB of $18.80 before easing back.

A 3rd day in the red for the week saw Binance Coin fall back through the third major resistance level at $18.04 on Saturday to close out the week at $17 levels.

For the week ahead

Binance Coin would need to break through last week’s high $18.72 to support a run at the first major resistance level at $19.44.

Support from the broader market would be needed for Binance Coin to break out from the 23.6% FIB of $18.80.

Barring a broad-based crypto rally, the first major resistance level would likely limit any upside in the week.

In the event of a breakout, the second major resistance level at $21.09 would likely come into play.

Failure to move through to last week’s high $18.72 could see Binance Coin hit reverse.

A fall back through to sub-$17 levels would bring the first major support level at $15.42 into play.

Barring a crypto meltdown, however, Binance Coin should steer clear of sub-$16 levels.

At the time of writing, Binance Coin was up by 2.37% to $18.21. A bullish start to the week saw Binance Coin rise from an early Sunday low $17.59 to a high $18.42.

Binance Coin left the major support and resistance levels untested early on.

BNB/USD 19/01/20 Weekly Chart

Litecoin

Litecoin jumped by 20.07% in the week ending 18th January. Following on from a 15.6% rally from the previous week, Litecoin ended the week at $59.28.

Tracking the broader market, Litecoin fell to a Monday intraweek low $48.82 before making a move.

Steering clear of the first major support level at $43.95, Litecoin rallied to a Friday intraweek high $63.17.

Litecoin broke through the first major resistance level at $53.4 and the second major resistance level at $57.44. Of greater significance, however, was a breakthrough the 23.6% FIB of $62.

A 4th day in the red for the week saw Litecoin fall back to sub-$60 levels on Saturday to limit the upside for the week.

For the week ahead

Litecoin would need to move through last week’s high $63.17 to support a run at the first major resistance level at $65.36.

Support from the broader market would be needed, however, for Litecoin to break out from the 23.6% FIB of $62.

Barring another broad-based crypto rally in the week, last week’s high $63.17 and first major resistance level would likely cap any upside on the week.

Failure to move through to $63 levels could see Litecoin hit reverse.

A fall back through to sub-$57 levels would bring the first major support level at $51.01 into play.

Barring a crypto meltdown, however, Litecoin should steer clear of last week’s low $48.82.

At the time of writing, Litecoin was up by 3.12% to $61.13. A bullish start to the week saw Litecoin rise from an early morning low $58.90 to a high $62.50.

Litecoin left the major support and resistance levels untested early on Sunday.

LTC/USD 19/01/20 Weekly Chart

Tron’s TRX

Tron’s TRX surged by 21.82% in the week ending 18th January. Following on from a 7.6% rally from the previous week, Tron’s TRX ended the week at $0.017711.

A particularly bullish week saw Tron’s TRX rally from a Sunday intraweek low $0.014455 to a Friday intraweek high $0.018249.

Steering clear of the major support levels, Tron’s TRX broke through the week’s major resistance levels before easing back to $0.017 levels.

The pullback saw Tron’s TRX briefly fall back through the third major resistance level at $0.01740.

A 1.2% fall on Monday was the only blemish in the week.

For the week ahead

Tron’s TRX would need to move back through to last week’s high $0.018249 to support a run at the first major resistance level at $0.01920.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.018 levels.

Barring an extended crypto rally, the first major resistance level and last week’s high 0.018249 would likely cap any gains.

In the event of a broad-based crypto rally, however, the second major resistance level at $0.02060 levels would likely come into play.

Failure to move through to $0.01825 levels could see Tron’s TRX spend the week in the red.

A pullback to sub-$0.01680 levels would bring the first major support level at $0.01540 into play before any recovery.

Barring a crypto meltdown, however, Tron’s TRX should steer well clear of sub-$0.015 and the second major support level at $0.01300.

At the time of writing, Tron’s TRX was up by 1.15% to $0.017914. A bullish start to the week saw Tron’s TRX rise from an early morning low $0.017637 to a high $0.018081.

Tron’s TRX left the major support and resistance levels untested early on.

TRX/USD 19/01/20 Weekly Chart

The Crypto Daily – Movers and Shakers – 16/01/20

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Bitcoin rose by 0.42% on Wednesday. Consolidating the 8.36% rally from Tuesday, Bitcoin ended the day at $8,807.7.

A choppy start to the day saw Bitcoin fall from an early high $8,859.7 to a mid-morning intraday low $8,560.1.

Steering clear of the first major support level at $8,302.6, Bitcoin bounced back to an early afternoon intraday high $8,731.1.

Falling short of the first major resistance level at $9,035.8, Bitcoin slipped into the red before finding late support.

The near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact, in spite of the upward momentum.

For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the top 10 cryptos, it was a mixed day for the majors.

Bitcoin Cash SV led the way down, sliding by 25.95% after Tuesday’s whopping 145% rally.

Bitcoin Cash ABC (-3.50%), EOS (-0.67%), Litecoin (-0.48%), and Ripple’s XRP (-0.06%) also saw red.

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

Monero’s XMR led the way, rallying by 8.89%.

Binance Coin (+6.20%), Ethereum (+0.33%), Stellar’s Lumen (+4.29%), and Tron’s TRX (+3.70%) also found strong support.

Through the current week, the crypto total market cap rose from a low $215.38 to a current week high $244.24bn on Tuesday. A pullback in the early hours of this morning, however, saw the market cap fall back to sub-$240bn levels. At the time of writing, the total market cap stood at $235.22bn.

Bitcoin’s dominance moved back through to 66% levels after the mixed day on Wednesday and heavy losses this morning. Trading volumes continued to rise, hitting $177bn levels on Wednesday before easing back. At the time of writing, 24-hr volumes stood at $137.03bn.

This Morning

At the time of writing, Bitcoin was down by 1.75% to $8,653.7. A bearish start to the day saw Bitcoin slide from an early morning high $8,839.9 to a low $8,600.0.

Steering clear of the major resistance levels, Bitcoin tested the first major support level at $8,621.1 early on.

Elsewhere, it was a sea of red across the crypto-board, with Bitcoin Cash SV sliding by 6.75% to lead the way.

Binance Coin (-4.97%), Bitcoin Cash ABC (-4.86%), Monero’s XMR (-4.78%), Stellar’s Lumen (-4.24%), and Tron’s TRX (-4.77%) also saw heavy losses.

Ethereum (-2.95%), EOS (-3.90%), Litecoin (-3.22%), and Ripple’s XRP (-3.42%) saw more modest losses early on.

BTC/USD 16/01/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through to $8,750 to support a run at the first major resistance level at $8,933.3.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $8,839.9.

Barring a broad-based extended crypto rally on the day, the first major resistance level at $8,933.3 and Wednesday high $8,872.3 would likely cap any upside.

Failure to break back through to $8,746.7 could see Bitcoin fall deeper into the red.

A fall back through the first major support level at $8,621.10 would bring the second major support level at $8,434.5 into play.

Barring a crypto meltdown, however, Bitcoin should avoid sub-$8,500 levels on the day.

Binance Coin Mid-Week Analysis – Resistance Levels in Play – 15/01/20

Apple iPhone and Binance logo, with dollars and cryptocurrency.

Binance Coin Price Resistance

It’s been a bullish 1st half of the week for Binance Coin.

The bullish start saw Binance Coin gain 2.90% on Sunday before hitting red on Monday.

Falling by 1.17% on Monday, Binance Coin fell back to sub-$15 levels before making a move.

A particularly bullish Tuesday saw Binance Coin rally by 9.63% to end the day at $16.62.

Binance Coin broke through the first major resistance level at $15.64 and second major resistance level at $16.37.

It was a return to $16 levels for the first time since 4th December.

A start of a week current week low $14.78 saw Binance Coin steer well clear of the first major support level at $13.97.

For the current week, 2 days in the green out of 3 led to an 11.62% gain, Sunday through Tuesday.

The near-term bearish trend remained intact, supported by late 2019 reversal and December’s swing lo $12.11. Binance Coin had continued to struggle at the 23.6% FIB of $21 ahead of the extended crypto sell-off.

The extended sell-off had seen Binance Coin fall for 5 consecutive weeks before finding support in late December. The reversal had included a 19.3% slide in the final week of November.

For the bulls, Binance Coin would need to break through the 62% FIB of $30 to form a near-term bullish trend.

At the time of writing, Binance Coin was up by 1.26% to $16.83. A bullish start to the day on Wednesday saw Binance Coin rise from an early morning low $16.32 to a high $17.30 before easing back.

While hitting $17 levels for the first time since 22nd November, Binance Coin came up short of the third major resistance level at $18.04.

BNB/USD 15/01/20 Weekly Chart

For the remainder of the week

Binance Coin would need to move back through to $17 levels to support a run at the third major resistance level at $18.08.

Support from the broader market would be needed, however, for Binance Coin to break out from Wednesday’s current week high $17.15.

Barring an extended rally into the weekend, the third major resistance at $18.08 would likely pin Binance Coin back.

In the event of an extended crypto rally through the week, the 23.6% FIB of $18.8 would likely come into play.

Failure to move back through to $17 levels could see Binance Coin hit reverse.

A pullback through the second major resistance level at $16.37 would bring $15 levels back into play.

Barring a crypto meltdown, however, Binance Coin should avoid a fall back through the first major resistance level at $15.64.

In the event of a sell-off, Binance Coin could visit sub-$15 levels before any recovery.

We would expect Binance Coin to steer well clear of the first major support level at $13.97, however.

Looking at the Technical Indicators

Major Support Level: $13.97

Major Resistance Level: $15.64

23.6% FIB Retracement Level: $18.8

38.2% FIB Retracement Level: $22.9

62% FIB Retracement Level: $29.5

The Crypto Daily – Movers and Shakers – 14/01/20

Cryptomania

Bitcoin fell by 0.97% on Monday. Partially reversing a 2.01% gain from Sunday, Bitcoin ended the day at $8,095.8.

A bearish start to the day saw Bitcoin fall to from an early morning intraday high $8,199.7 to a mid-morning intraday low $8,054.4.

In spite of the early moves, Bitcoin left the major support and resistance levels untested.

Through the 2nd half of the day, Bitcoin struck a high $8,159.9 before easing back to sub-$8,100 levels.

The near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact, in spite of last week’s gains.

For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the top 10 cryptos, it was a mixed day for the majors.

Bitcoin Cash SV bucked the trend on the day, rallying by 5.01%.

It was bearish for the rest of the pack, however, with Litecoin sliding by 3.56% to lead the way down.

EOS (-3.16%), Ethereum (-2.07%), Monero’s XMR (-2.21%), and Tron’s TRX (-2.18%) also saw relatively heavy losses.

Binance Coin (-1.17%), Bitcoin Cash ABC (-1.50%), Ripple’s XRP (-1.84%), and Stellar’s Lumen (-1.89%) saw more modest losses.

Through the start of the week, the crypto total market cap eased back from $218bn levels to a day low $215.38 before support kicked in. At the time of writing, the total market cap stood at $224.08bn.

Bitcoin’s dominance held onto 68% levels following a more modest loss on the day. Trading volumes held at sub-$80bn levels throughout the day. At the time of writing, volumes were at $84bn levels.

This Morning

At the time of writing, Bitcoin was up by 3.86% to $8,408.2. A particularly bearish start to the day saw Bitcoin rally from an early morning low $8,095.8 to a high $8,468.0.

Steering clear of the major support levels, Bitcoin broke through the day’s major resistance levels early before easing back through the third major resistance level at $8.408.57.

The breakout also saw Bitcoin break back through the 23.6% FIB of $8,200.

Elsewhere, it was also a bullish start, with Bitcoin Cash SV surging by 10.87% to lead the way.

Litecoin (+6.25%), Bitcoin Cash ABC (+4.94%), and EOS (+3.96%) also saw solid gains early on.

Stellar’s Lumen (+1.97%) and Tron’s TRX (+1.59%) trailed the back early on.

BTC/USD 14/01/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to break back through the third major resistance to support a run at the $8,500.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $8,468.0.

Barring a broad-based extended crypto rally on the day, resistance at $8,500 would likely cap any upside once more.

Failure to break through the third major resistance level could see Bitcoin give up some of the early gains.

A fall back through to sub-$8,120 levels would bring the first major support level at $8,033.03 into play.

Barring a crypto meltdown, however, Bitcoin should avoid sub-$8,000 levels and the second major support level at $7,970.27.

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 12/01/20

Crypto00 567

Binance Coin

Binance Coin rallied by 8.04% in the week ending 11th January. Following on from a 0.95% gain from the previous week, Binance Coin ended the week at $14.91.

A bullish start to the week saw Binance Coin rally from an early Sunday intraweek low $13.76 to a Tuesday intraweek high $15.85.

Steering clear of the major support levels, Binance Coin broke through the first major resistance level at $14.47 and second major resistance level at $15.17.

On Wednesday, Binance Coin fell back to sub-$14 levels before a 5% rally on Friday. A bearish end to the week, however, limited the upside, with Binance Coin giving up $15 levels late on Saturday.

For the week ahead

Binance Coin would need to move back through to $15.00 levels to support a run at the first major resistance level at $15.64.

Support from the broader market would be needed for Binance Coin to break out from last week’s high $15.43.

Barring a broad-based crypto rally, the first major resistance level would likely pin Binance Coin back from $16 levels.

In the event of a breakout, the second major resistance level at $16.37 would likely cap any upside on the week.

Failure to move through to $15 levels could likely see Binance Coin hit reverse.

A fall back through to sub-$14.70 levels would bring the first major support level at $13.97 into play.

Barring a crypto meltdown, Binance Coin should steer clear of sub-$13 levels. The second major support level at $13.03 should limit any downside in the week.

At the time of writing, Binance Coin was down by 0.24% to $14.87. A bearish start to week day saw Binance Coin fall from an early morning high $14.94 to a low $14.76 before finding support.

Binance Coin left the major support and resistance levels untested early on.

BNB/USD 12/01/20 Weekly Chart

Litecoin

Litecoin surged by 15.6% in the week ending 11th January. Following on from a 0.07% gain from the previous week, Litecoin ended the week at $49.36.

Bullish through the week, Litecoin rallied from a Sunday intraweek low $42.58 to a Saturday intraweek high $52.03.

Steering clear of the major support levels, 5 days in the green out of 7 delivered the upside for the week. The 5 days in the green included a 5.8% gain on Monday and 9.5% rally on Friday.

Litecoin broke through the first major resistance level at $44.92 and second major resistance level at $47.11 to hit $50 for the first time since late November.

For the week ahead

Litecoin would need to move through to $50 levels to support a run at the first major resistance level at $53.40.

Support from the broader market would be needed, however, for Litecoin to break out from last week’s high $52.03.

Barring a broad-based crypto rally in the week, last week’s high $52.03 and first major resistance level would likely cap any upside on the week.

Failure to move through to $50 levels could see Litecoin hit reverse.

A fall back through to sub-$48 levels would bring the first major support level at $43.95 into play.

Barring a crypto meltdown, however, Litecoin should steer clear of last week’s low $42.58.

At the time of writing, Litecoin was up by 0.02% to $49.37. A mixed start to the week saw Litecoin fall from an early morning high $49.38 to a low $48.82 before finding support.

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

LTC/USD 12/01/20 Weekly Chart

Tron’s TRX

Tron’s TRX rallied by 7.6% in the week ending 11th January. Following on from a 0.29% gain from the previous week, Tron’s TRX ended the week at $0.014574.

A mixed start to the week saw Tron’s TRX fall to a Sunday intraweek low $0.01350. Steering clear of the first major support level at $0.01290, Tron’s TRX rallied to a Tuesday high $0.014748.

Tron’s TRX broke through the first major resistance level at $0.0140 and the second major resistance level at $0.0145.

3 consecutive days in the red saw Tron’s TRX slide back to $0.0136 levels before finding support.

A 5% gain on Friday led to a late Saturday intraweek high $0.01500 before easing back. Tron’s TRX broke back through the first and second major resistance levels to wrap up the week at $0.014 levels.

For the week ahead

Tron’s TRX would need to move back through to $0.015 levels to support a run at the first major resistance level at $0.0152.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.015 levels.

Barring an extended crypto rally, the first major resistance level and last week’s high $0.015 would likely cap any gains.

In the event of a broad-based crypto rally, however, the second major resistance level at $0.0159 levels would likely come into play.

Failure to move through to $0.015 levels could see Tron’s TRX spend the week in the red.

A pullback to sub- $0.01440 would bring the first major support level at $0.01370 into play before any recovery.

Barring a crypto meltdown, however, Tron’s TRX should steer well clear of sub-$0.013 levels and the second major support level at $0.1290.

At the time of writing, Tron’s TRX was down by 0.51% to $0.01450. A bearish start to the week saw Tron’s TRX fall from an early morning high $0.014540 to a low $0.014455.

Tron’s TRX left the major support and resistance levels untested early on.

TRX/USD 12/01/20 Weekly Chart

The Crypto Daily – Movers and Shakers – 09/01/20

Bitcoin and Litecoin over dollar banknotes.

Bitcoin fell by 1.49% on Wednesday. Partially reversing a 5.09% rally from Tuesday, Bitcoin ended the day at $8,036.8.

A bullish start to the day saw Bitcoin rally to an early morning intraday high $8,442.0 before hitting reverse.

Bitcoin broke through the 23.6% FIB of $8,200 and the first major resistance level at $8,328.97.

On the reverse, Bitcoin slid to a late intraday low $7,877.6 before finding support.

Steering clear of the first major support level at $7,860.57, Bitcoin recovered to $8,000 levels to limit the loss.

The near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact, in spite of the current week’s gains.

For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the top 10 cryptos, it was a mixed day for the majors.

Bitcoin Cash SV (+0.04%) and Monero’s XMR (+1.47%) bucked the trend on the day.

It was bearish for the rest of the majors.

Binance Coin (+-3.39%), EOS (-2.72%), Litecoin (-2.33%), Ripple’s XRP (-2.88%), Stellar’s Lumen (-2.51%), and Tron’s TRX (-2.84%) also saw heavy losses.

Bitcoin Cash ABC (-1.03%) and Ethereum (-1.73%) saw more modest losses on the day.

Through the first half of the week, the crypto total market cap jumped from $197bn levels to an early Wednesday current week high $220.27bn before sliding back to $209bn levels. At the time of writing, the total market cap stood at $211.91bn.

Bitcoin’s dominance eased back to 68% levels off the back of Wednesday’s pullback. Trading volumes hit $100bn levels on Wednesday before easing back. At the time of writing, volumes were at $92bn levels.

On the News Front

Bitcoin’s visit to $8,000 levels appeared to be driven by strong demand for cryptos in response to Iran’s missile strikes on Wednesday morning.

While Bitcoin’s safe-haven status continues to be questioned, the threat of war appears to be a scenario where cryptos are favored by the markets.

Bitcoin and the likes of Litecoin joined gold and crude oil prices in a surge early on Wednesday before tensions eased.

This Morning

At the time of writing, Bitcoin was down by 0.44% to $8,001.7. A bearish start to the day saw Bitcoin fall from an early morning high $8,036.8 to a low $7,925.0.

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

Elsewhere, it was a mixed start to the day.

Binance Coin (-0.27%) and Monero’s XMR (-2.47%) joined Bitcoin in the red early on.

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

Bitcoin Cash SV (+1.00%) and Stellar’s Lumen (+1.18%) led the way early on.

BTC/USD 09/01/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through to $8,120 levels to support a run at the first major resistance level at $8,360.0.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $8,036.8.

Barring a broad-based crypto rally on the day, Bitcoin would likely come up short of $8,300 levels. Resistance at the 23.6% FIB of $8,200 would likely limit any upside.

In the event of a breakout, the first major resistance level would likely pin Bitcoin back on the day.

Failure to move through to $8,120 levels could see Bitcoin fall deeper into the red.

A fall back through the morning low $7,925.0 would bring the first major support level at $7,795.6 into play.

Barring a crypto meltdown, however, Bitcoin should steer clear of the second major support level at $7,554.4.

Binance Coin Mid-Week Analysis – Resistance Levels in Play – 08/01/20

Binance

Binance Coin Price Resistance

It’s been a bullish 1st half of the week for Binance Coin.

Rallying from an early Sunday current week low $13.76, Binance Coin rallied to an early Tuesday high $15.32.

Binance Coin broke through the first major resistance level at $14.47 and the second major resistance level at $15.17.

Through the start of the week, Binance Coin had steered well clear of the first major support level at $12.98.

3 consecutive days in the green, which included a 6.6% rally on Monday, delivered an 8.99% gain, Sunday through Tuesday.

The near-term bearish trend remained intact, supported by a string of weekly losses and December’s swing lo $12.11. Binance Coin had continued to struggle at the 23.6% FIB of $21 ahead of the extended crypto sell-off.

The extended sell-off had seen Binance Coin fall for 5 consecutive weeks before finding support in late December. The reversal had included a 19.3% slide in the final week of November.

For the bulls, Binance Coin would need to break through the 62% FIB of $30 to form a near-term bullish trend.

At the time of writing, Binance Coin was down by 0.83% to $14.91. A bullish start to the day on Wednesday saw Binance Coin rise from an early morning low $14.66 to a current week high $15.60.

Binance Coin broke back through the second major resistance level at $15.17 before hitting reverse in the early hours.

BNB/USD 08/01/20 Weekly Chart

For the remainder of the week

Binance Coin would need to move back through to $15 levels to bring the second major resistance level at $15.17 back into play.

Support from the broader market would be needed, however, for Binance Coin to break out from the second major resistance level.

Barring a broad-based crypto rebound, resistance at $15 would likely continue to pin Binance Coin back.

In the event of an extended crypto rally through the week, the third major resistance level at $16.66 would likely come into play.

Failure to move back through to $15 levels could see Binance Coin hit reverse.

A pullback through the current week low $13.76 to sub-$13.65 levels would bring the first major support level at $12.98 into play

Barring a crypto meltdown, however, Binance Coin should steer well clear sub-$13 levels.

In the event of a sell-off, the first major support level at $12.98 should limit any downside in the week.

Looking at the Technical Indicators

Major Support Level: $12.98

Major Resistance Level: $14.47

23.6% FIB Retracement Level: $18.8

38.2% FIB Retracement Level: $22.9

62% FIB Retracement Level: $29.5

The Crypto Daily – Movers and Shakers – 07/01/20

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Bitcoin rallied by 5.35% on Monday. Following a 0.08% decline from Sunday, Bitcoin ended the day at $7,757.9.

A bullish start to the day saw Bitcoin rise from an early morning intraday low $7,358 to a late intraday high $7,785.0.

Steering clear of the major support levels, Bitcoin broke through the first major resistance level at $7,477.73 and second major resistance level at $7,590.87.

The third major resistance level at $7,785 pinned Bitcoin Back late in the day.

The near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact, in spite of the start of the week rebound.

For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the top 10 cryptos, it was also a bullish day for the majors.

Ripple’s XRP and Stellar’s Lumen led the way, rallying by 14.6% and 10.9% respectively.

Bitcoin Cash ABC (+9.7%), Monero’s XMR (+9.7%), and Tron’s TRX (+7.4%) also saw solid gains.

Binance Coin (+6.6%), Bitcoin Cash SV (+6.9%), EOS (+6.3%), Ethereum (+6.6%), and Litecoin (+5.8%) weren’t far behind.

Through the start of the week, the crypto total market cap jumped to a Monday high $208 6bn. At the time of writing, the total market cap stood at $210.05bn, with the majors seeing further upside early this morning

Bitcoin’s dominance eased back from 68% levels, with a broader market rally delivering stronger gains elsewhere on Monday. Trading volumes hit $83bn levels on Monday. At the time of writing, volumes were at $84bn levels.

This Morning

At the time of writing, Bitcoin was up by 1.44% to $7,869.3. A particularly bullish start to the day saw Bitcoin rise from an early morning low $7,758.8 to a high $7,870.0.

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

Elsewhere, Monero’s XMR (+1.36%) and Tron’s TRX (+1.41%) also found strong support early on.

Binance Coin (+0.91%), Bitcoin Cash ABC (+0.88%), Bitcoin Cash SV (+0.81%), EOS (+0.32%), Ethereum (+0.41%), Litecoin (+0.37%), and Stellar’s Lumen (+0.56%) were also saw green.

Ripple’s XRP bucked the trend early on, however, falling by 0.07%.

BTC/USD 07/01/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to hold onto $7,800 levels to support a run at the first major resistance level at $7,909.27.

Support from the broader market would be needed for Bitcoin to break through to $7,900 levels.

Barring an extended crypto rally on the day, resistance at $8,000 would likely limit any upside.

In the event of another broad-based crypto rally, the second major resistance level at $8,060.63 would likely provide little resistance. A visit to $8,200 levels could be on the cards before any pullback.

Failure to hold onto $7,800 levels could see Bitcoin hit reverse.

A fall through the morning low to sub-$7,630 levels would bring the first major resistance level at $7,482.27 into play.

Barring a crypto meltdown, however, Bitcoin should steer clear of sub-$7,400 levels.

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 05/01/20

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Binance Coin

Binance Coin rose by 0.95% in the week ending 4th January. Following on from a 2.48% gain from the previous week, Binance Coin ended the week at $13.78.

A bullish start to the week saw Binance Coin rally to an early Monday intraweek high $14.37 before hitting reverse.

Binance Coin broke through the first major resistance level at $14.19 before sliding to a Thursday intraweek low $12.88.

Binance Coin fell through the first major support level at $12.98 before bouncing back with a 5.14% rally on Friday.

2 consecutive days in the green late in the week reversed 3 days in the red out of 4 to deliver the weekly gain.

For the week ahead

Binance Coin would need to move through to $14.00 levels to support a run at the first major resistance level at $14.47.

Support from the broader market would be needed for Binance Coin to break out from last week’s high $14.37 levels.

Barring a broad-based crypto rally, however, Binance Coin would likely fall short of $15 levels again.

In the event of a breakout, the second major resistance level at $15.17 would likely cap any upside on the week.

Failure to move through to $14.00 levels could likely see Binance Coin hit reverse.

A fall back through to sub-$13.68 levels would bring the first major support level at $12.98 into play.

Barring a crypto meltdown, Binance Coin should steer clear of sub-$12 levels. The second major support level at $12.19 should limit any downside in the week.

At the time of writing, Binance Coin was up by 1.31% to $13.96. A bullish start to the day on Sunday saw Binance Coin rally from an early morning low $13.71 to a high $14.04.

BNB/USD 05/01/20 Daily Chart

Litecoin

Litecoin rose by just 0.07% in the week ending 4th January. Following on from a 7.55% rally from the previous week, Litecoin ended the week at $42.73.

A relatively bullish start to the week saw Litecoin strike a Monday intraweek high $44.02 before hitting reverse.

Falling short of the first major resistance level at $44.47, Litecoin fell to a Thursday intraweek low $38.74.

Litecoin fell through the first major support level at $40.18 before finding support in the latter part of the week.

A 7.3% rally on Friday and 1.26% gain on Saturday reversed losses from mid-week that included a 5.23% slide on Thursday.

For the week ahead

Litecoin would need to move through to $44 levels to support a run at the first major resistance level at $44.92.

Support from the broader market would be needed, however, for Litecoin to break out from last week’s high $44.02.

Barring a broad-based crypto rally in the week, last week’s high $44.02 and first major resistance level would likely cap any upside on the week.

Failure to move through to $44 levels could see Litecoin hit reverse.

A fall back through to sub-$41.80 levels would bring the first major support level at $39.63 into play.

Barring a crypto meltdown, however, Litecoin should steer clear of last week’s low $38.74.

At the time of writing, Litecoin was up by 0.89% to $43.11. A bullish start to the week saw Litecoin rise from a morning low $42.65 to a high $43.20 on Sunday.

LTC/USD 05/01/20 Weekly Chart

Tron’s TRX

Tron’s TRX rose by 0.29% in the week ending 4th January. Partially reversing a 0.42% fall from the previous week, Tron’s TRX ended the week at $0.013497.

A bullish start to the week saw Tron’s TRX rally to Sunday intraweek high $0.013895 before hitting reverse.

Tron’s TRX fell well short of the first major resistance level at $0.01530 before sliding to an early Friday intraweek low $0.012770.

The reversal saw Tron’s TRX come within range of the first major support level at $0.01240 before finding support.

A 4.09% rally on Friday and 0.33% gain on Saturday reversed a 3.32% slide on Monday and 2.79% fall on Thursday to close out the week in the green.

For the week ahead

Tron’s TRX would need to move back through to last week’s high $0.013895 to support a run at the first major resistance level at $0.01400.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.01380 levels.

Barring an extended crypto rally, Tron’s TRX would likely continue to fall short of $0.0150 levels.

In the event of a broad-based crypto rally, however, the third major resistance level at $0.0156 levels would likely cap any upside.

Failure to move through to last week’s high $0.013895 levels could see Tron’s TRX spend the week in the red.

A pullback to sub- $0.01340 would bring the first major support level at $0.01290 into play before any recovery.

Barring a crypto meltdown, however, Tron’s TRX should steer well clear of the second major support level at $0.1230.

At the time of writing, Tron’s TRX was up by 1.30% to $0.013673. A bullish start to the week saw Tron’s TRX rise from an early morning low $0.01350 to a high $0.013748.

TRX/USD 05/01/20 Daily Chart

The Crypto Daily – Movers and Shakers – 02/01/20

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Bitcoin rose by 0.06% on Wednesday. Following a 0.72% decline on Tuesday, Bitcoin ended the day at $7.212.7.

A mixed start to the day saw Bitcoin rise from an early intraday low $7,185.4 to an early morning high $7,256.7.

Steering clear of the major support and resistance levels, Bitcoin fell back to sub-$7,200 levels.

Through the early afternoon, Bitcoin struck an intraday high $7,285.1 before hitting reverse.

Falling short of the first major resistance level at $7,307.1, Bitcoin fell back to sub-$7,200 before finding support.

Late support delivered Bitcoin’s minor gain on the day.

The near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact, in spite of Bitcoin continuing to hold onto $7,000 levels.

For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the top 10 cryptos, it was a mixed day for the majors.

Ethereum (+1.28%), Litecoin (+0.97%), and Tezos (+1.48%) led the way on Wednesday.

Binance Coin (+0.15%), Bitcoin Cash SV (+0.34%). EOS (0.60%), Ripple’s XRP (+0.10%), and Stellar’s Lumen (+0.64%) saw modest gains on the day.

It was a bearish start to the year for the rest of the pack, however.

Bitcoin Cash ABC (-0.58%) and Tron’s TRX (-0.60%) bucked the trend on the day.

Through the current week, the crypto total market cap hit a Monday high $198.27bn before sliding to a Tuesday low $190.14bn. Through Wednesday, the total market cap peaked at $193.02bn before easing back. At the time of writing, the total market cap stood at $191.20bn.

Bitcoin’s dominance continued to sit at 68% levels following relatively modest gain on Wednesday. Trading volumes hit $80bn levels on Monday before easing back to sub-$70bn levels. At the time of writing, volumes were at $61.5bn levels.

This Morning

At the time of writing, Bitcoin was down by just 0.01% to $7,212.0. A bearish start to the day saw Bitcoin fall from an early morning high $7,212.4 to a low $7,202.1.

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

Elsewhere, Tezos bucked the trend early, rising by 0.36%.

It was red for the rest of the majors, with Binance Coin (-0.27%), Bitcoin Cash SV (-0.34%), and Ethereum (-0.28%) leading the way down.

BTC/USD 02/01/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through to $7,230 levels to support a run at the first major resistance level at $7,270.07.

Support from the broader market would be needed, however, for Bitcoin to break out from $7,250 levels.

Barring a broad-based crypto rally on the day, the first major resistance level and Wednesday’s high $7,285.1 would likely limit any upside.

Failure to move through to $7,230 levels could see Bitcoin fall deeper into the red.

A fall through to morning low $7,202.1 would bring the first major support level at $7,180.37 into play before any recovery.

Barring an extended sell-off, however, Bitcoin should continue to steer clear of sub-$7,100 levels, the second major support level at $7,128.03 should limit any downside.

In the event of a sell-off, expect the third major support level at $7,028.33 to come into play.