Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 05/07/20

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Binance Coin

Binance Coin rose by 2.91% in the week ending 4th July. Partially reversing a 5.79% slide from the previous week, Binance Coin ended the week at $15.56.

It was a mixed start to the week. Binance Coin fell to a Sunday intraweek low $14.89 before making a move.

Steering clear of the first major support level at $14.29, Binance Coin rallied to a Wednesday intraweek high $16.04.

Coming up short of the first major resistance level at $16.45, Binance Coin fell back to a mid-week low $15.01 and into the red.

A bullish end to the week saw Binance Coin rise by 1.90% to deliver most of the upside for the week.

For the week ahead

Binance Coin would need to avoid a fall through the $15.50 pivot to bring the first major resistance level at $16.10 into play.

Support from the broader market would be needed for Binance Coin to break back through to $16 levels.

Barring a broad-based crypto rally, the first major resistance level and last week’s high $16.04 would likely cap any upside.

In the event of a breakout, Binance Coin could take a run at the second major resistance level at $16.65 before any pullback.

Failure to avoid a fall through the $15.50 pivot would bring the first major support level at $14.95 into play.

Barring a crypto sell-off, Binance Coin should avoid the 23.6% FIB of $14.4 and the second major support level at $14.35.

At the time of writing, Binance Coin was up by 0.09% to $15.58. A mixed start to the week saw Binance Coin fall to an early morning low $15.54 before rising to a high $15.61.

Binance Coin left the major support and resistance levels untested at the start of the week.

BNB/USD 05/07/20 Weekly Chart

Litecoin

Litecoin rose by 2.73% in the week ending 4th July. Partially reversing a 5.79% slide from the previous week, Litecoin ended the week at $42.15.

It was a bullish start to the week. Litecoin rose to a Monday high $42.24 before falling to a Thursday intraweek low $40.32.

Steering well clear of the first major support level at $38.59, Litecoin bounced back to a Saturday intraweek high $42.25.

Falling well short of the first major resistance level at $44.07, Litecoin eased back to sub-$42 before wrapping up the week at $42 levels

5-days in the green that included a 2.43% rally on Saturday delivered the upside.

For the week ahead

Litecoin would need to avoid a fall through the $41.57 pivot to support a run at the first major resistance level at $42.83.

Support from the broader market would be needed, however, for Litecoin to break out from $42.5 levels.

Barring an extended crypto rally, the first major resistance level and last week’s high $42.25 would likely cap any upside.

Failure to avoid a fall through the $41.57 pivot could see Litecoin come under further pressure.

A fall through to sub-$41 levels would bring the first major support level at $40.90 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of the second major support level at $39.64.

At the time of writing, Litecoin was down by 0.40% to $41.98. A mixed start to the week saw Litecoin rise to an early morning high $42.22 before falling to a low $41.96.

Litecoin left the major support and resistance levels untested at the start of the week.

LTC/USD 05/07/20 Weekly Chart

Tron’s TRX

Tron’s TRX rallied by 8.81% in the week ending 4th July. Reversing a 2.76% fall slide from the previous week, Tron’s TRX ended the week at $0.016789.

It was a bullish start to the week. Tron’s TRX rallied from a Sunday intraweek low $0.015326 to a Thursday intraweek high $0.017251.

Steering clear of the first major support level at $0.01466, Tron’s TRX broke through the first major resistance level at $0.01660.

Coming up short of the second major resistance level at $0.01769, Tron’s TRX eased back to sub-$0.01650 levels.

A bullish end to the week saw Binance Coin break back through the first major resistance level at $0.01660.

6 days in the green that included a 2.93% rally on Monday delivered the upside for the week.

For the week ahead

Tron’s TRX would need to avoid a fall through the $0.01646 pivot to support a run at the first major resistance level at $0.01758.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.017 levels.

Barring a broad-based crypto rally, the first major resistance level and last week’s high $0.017251 would likely cap any upside.

In the event of a breakout, Tron’s TRX could eye $0.018 levels before any pullback. The second major resistance level at $0.01838 would likely cap any upside, however.

Failure to avoid a fall through the $0.01646 pivot would bring the first major support level at $0.01566 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should avoid sub-$0.015 levels and the second major support level at $0.01453.

At the time of writing, Tron’s TRX was down by 0.15% to $0.016764. A mixed start to the week saw Tron’s TRX rise an early high $0.016850 before falling to a low $0.016764.

Tron’s TRX left the major support and resistance levels untested at the start of the week.

TRX/USD 05/07/20 Weekly Chart

The Crypto Daily – Movers and Shakers – July 2nd, 2020

Coins of crypto currency are presented on a dark background. Virtual money concept.

Bitcoin rose by 0.98% on Wednesday. Reversing a 0.48% fall from Tuesday, Bitcoin ended the day at $9,239.9.

A bearish start to the day saw Bitcoin fall to an early morning intraday low $9,109.4 before making a move.

Steering clear of the first major support level at $9,082.97, Bitcoin rallied to a late afternoon intraday high $9,298.0.

Bitcoin broke through the first major resistance level at $9,212.47 and the second major resistance level at $9,274.23.

A late pullback saw Bitcoin fall back through to sub-$9,230 levels before finding support.

While falling back through the second major resistance level, Bitcoin held above the first major resistance level.

The near-term bullish trend remained intact in spite of the recent pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish day on Wednesday.

Cardano’s ADA surged by 16.63% to lead the way.

Binance Coin (+2.79%), Ethereum (+2.45%), Stellar’s Lumen (+1.96%), Monero’s XMR (+1.73%), Tezos (+1.76%), and Tron’s TRX (+3.00%) also found strong support.

Bitcoin Cash ABC (+0.73%), Bitcoin Cash SV (+0.52%), EOS (+0.35%), Litecoin (+1.55%), Ripple’s XRP (+0.77%) trailed the front runners.

Through the current week, the crypto total market cap fell to a Monday low $250.49bn before rising to a Wednesday high $259.86bn. At the time of writing, the total market cap stood at $258.38bn.

Bitcoin’s dominance rose to a Monday high 66.29% before falling to a Wednesday low 65.85%. At the time of writing, Bitcoin’s dominance stood at 65.83%.

This Morning

At the time of writing, Bitcoin was flat at $9,239.4. A mixed start to the day saw Bitcoin slip to an early morning low $9,236.2 before rising to a high $9,248.6.

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

Elsewhere, it was a mixed start to the day on Thursday.

Cardano’s ADA was down by 2.63%, with Bitcoin Cash SV (-0.21%), Litecoin (-0.19%), Monero’s XMR (-0.74%), and Tezos (-0.37%) also in the red.

It was a bullish start for the rest of the majors, with Stellar’s Lumen up by 2.5% to lead the way, at the time of writing.

BTC/USD 02/07/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $9,215 pivot to support a run at the first major resistance level at $9,322.13.

Support from the broader market would be needed, however, for Bitcoin to break out from Wednesday’s high $9,298.0.

Barring an extended crypto rebound, the first major resistance level and Wednesday’s high would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $9,404.37 before any pullback.

Failure to avoid a fall through the $9,215 pivot level could see Bitcoin struggle on the day.

A fall back through to sub-$9,200 would bring the first major support level at $9,133.53 into play.

Barring an extended crypto sell-off, Bitcoin should avoid the 23.6% FIB of $8,900. The second major support level at $9,027.17 should limit any downside on the day.

Binance Coin Mid-Week Analysis – Resistance Levels in Play – 01/07/20

crypto currency mining concept

Binance Coin Price Resistance

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

Binance Coin rallied from a Sunday current week low $14.89 to a Monday current week high $15.77 before easing back.

Steering clear of the first major support level at $14.29, Binance Coin also fell well short of the first major resistance level at $16.45. The breakout did see Binance Coin move through the week’s pivot level at $15.60 before the pullback.

A mixed day on Tuesday saw Binance Coin ease back through the pivot to sub-$15.40 levels before finding support.

Avoiding a return to sub-$15 levels was key as the broader market struggled on the day on Tuesday.

For the current week, Sunday through Tuesday, Binance Coin was up by 1.79% to $15.39. 2 consecutive days in the green delivered the upside, while a 0.51% fall on Tuesday, limited early progress…

The near-term bearish trend remained intact, supported by the late 2019 reversal and mid-March’s swing lo $6.42.

It’s had been a relatively bullish start to the year before the current downtrend. Having been up by as much as 101% year-to-date, Binance Coin was up by just 12.75% year-to-date.

For the bulls, Binance Coin would need to break through the 62% FIB of $27.3 to form a near-term bullish trend.

At the time of writing, Binance Coin was down by 0.23% to $15.35. A bearish start to the day saw Binance Coin fall from an early morning high $15.48 to a low $15.30.

Binance Coin steered clear of the major support and resistance levels in the early part of the day.

BNB/USD 01/07/20 Weekly Chart

For the remainder of the week

Binance Coin would need to move back through the $15.60 pivot to support another run at the first major resistance level at $16.45.

Support from the broader market would be needed, however, for Binance Coin to break out from the current week high $15.77.

Barring a broad-based crypto rally, the first major resistance level and last week’s high $16.92 would likely cap any upside.

In the event of another breakout, the second major resistance level at $17.76 could come into play. Expect plenty of resistance at $17, however.

Failure to move back through the $15.60 pivot could see Binance Coin fall deep into the red.

A pullback through to sub-$15 levels would bring the first major support level at $14.29 back into play.

Barring an extended crypto sell-off, however, Binance Coin should avoid sub-$14 levels.

Looking at the Technical Indicators

Major Support Level: $14.29

Major Resistance Level: $16.45

23.6% FIB Retracement Level: $14.4

38.2% FIB Retracement Level: $19.4

62% FIB Retracement Level: $27.3

The Crypto Daily – Movers and Shakers – June 30th, 2020

Coins of crypto currency are presented on a dark background. Virtual money concept.

Bitcoin rose by 0.76% on Monday. Following on from a 1.23% gain on Sunday, Bitcoin ended the day at $9,194.4.

It was a mixed start to the day for Bitcoin. In the early hours, Bitcoin fell to an early morning intraday low $9,018.1 before finding support.

Steering clear of the 23.6% FIB of $8,900 and the first major support level at $8,983.6, Bitcoin rallied to a late intraday high $9,244.0.

Bitcoin broke through the first major resistance level at $9,230.2 before easing back to sub-$9,200 levels.

The near-term bullish trend remained intact in spite of the recent pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

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

Cardano’s ADA led the way, rallying by 4.66%

Bitcoin Cash ABC (+1.32%), Ethereum (+1.28%), Litecoin (+1.28%), Monero’s’ XMR (+1.12%), Tezos (+1.86%), and Tron’s TRX (+2.43%) also found strong support.

Binance Coin (+0.59%), EOS (+0.51%), Ripple’s XRP (+0.16%), and Stellar’s Lumen (+0.68%) trailed the front runners.

Bitcoin Cash SV bucked the trend on the day, with a 0.39% loss.

Through the start of the week, the crypto total market cap fell to a Monday low $251.36bn before rising to a high $257.92bn. At the time of writing, the total market cap stood at $256.08bn.

Bitcoin’s dominance rose to a Monday high 66.17% before falling to a low 65.97%. At the time of writing, Bitcoin’s dominance stood at 65.95%.

This Morning

At the time of writing, Bitcoin was down by 0.09% to $9,185.9. A mixed start to the day saw Bitcoin rise to an early morning high $9,203.7 before falling to a low $9,181.3.

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

Elsewhere, it was a mixed start to the day.

Stellar’s Lumen and Monero’s XMR led the way, with gains of 1.16% and 0.70% respectively.

At the time of writing, Bitcoin Cash SV was down by 0.01%, with Ethereum down by 0.06% to join Bitcoin in the red.

BTC/USD 30/06/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would avoid a fall through the $9,152 pivot to support a run at the first major resistance level at $9,286.23.

Support from the broader market would be needed, however, for Bitcoin to break out from Monday’s high $9,244.

Barring an extended crypto rebound, the first major resistance level and Monday’s high would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $9,378.07.

Failure to avoid a fall through the $9,152 pivot level could see Bitcoin struggle later in the day.

A fall back through to sub-$9,100 would bring the first major support level at $9,060.33 into play.

In the event of another extended crypto sell-off, the 23.6% FIB of $8,900 and the second major support level at $8,926.27 may be tested.

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 28/06/20

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Binance Coin

Binance Coin slid by 5.79% in the week ending 27th June. Following on from a 4.52% fall from the previous week, Binance Coin ended the week at $15.13.

It was a mixed start to the week. Binance Coin slipped by 0.58% on Sunday before finding support on Monday.

An early in the week rally saw Binance Coin rise to a Monday intraweek high $16.92 before hitting reverse.

Coming up against the first major resistance level at $16.83, Binance Coin slid to Saturday intraweek low $14.76.

The sell-off saw Binance Coin fall through the first major support level at $15.34 before finding support.

In spite of a move back through to $15 levels, however, Binance Coin failed to break back through the first major support level.

5 consecutive days in the red that included a 3.87% slide on Saturday reversed a 3.45% gain from last Monday.

For the week ahead

Binance Coin would need to move through to $15.60 levels to bring the first major resistance level at $16.45 into play.

Support from the broader market would be needed for Binance Coin to break back through to $16 levels.

Barring a broad-based crypto rally, the first major resistance level at $16.45 would likely cap any upside.

In the event of a breakout, Binance Coin could take a run at the second major resistance level at $17.76 before any pullback.

Failure to move through to $15.60 levels could see Binance Coin struggle throughout the week.

A fall back through sub-$15 levels would bring the 23.6% FIB of $14.4 and the first major support level at $14.29 into play.

Barring another crypto meltdown, Binance Coin should avoid the second major support level at $13.44.

At the time of writing, Binance Coin was down by 0.64% to $15.03 on Sunday. A bearish start to the week saw Binance Coin fall from an early morning high $15.13 to a low $14.99.

Binance Coin left the major support and resistance levels untested at the start of the week.

BNB/USD 28/06/20 Weekly Chart

Litecoin

Litecoin slid by 5.79% in the week ending 27th June. Following on from a 3.42% decline from the previous week, Litecoin ended the week at $41.04.

It was a bearish start to the week. Litecoin fell to an early Sunday low $42.82 before finding support on Monday.

Tracking the broader market, Litecoin rallied to a Monday intraweek high $44.66 before hitting reverse.

Falling short of the first major resistance level at $45.16, Litecoin slid to a Saturday intraweek low $39.18.

Litecoin fell through the first major support level at $41.83 and the second major support level at $40.13.

A late Saturday move back through the second major support level cut the deficit for the week.

5-days in the red that included a 3.62% slide on Wednesday and a 4.67% slide on Saturday delivered the loss.

For the week ahead

Litecoin would need to move through the $41.63 pivot to support a run at the first major resistance level at $44.07.

Support from the broader market would be needed, however, for Litecoin to break out from $43 levels.

Barring another extended crypto rally, the first major resistance level and last week’s high $44.66 would likely cap any upside.

Failure to move through the $41.63 pivot could see Litecoin come under further pressure.

A fall through to sub-$40 levels would bring the first major support level at $38.59 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of the second major support level at $36.15.

At the time of writing, Litecoin was down by 0.54% to $40.82. A bearish start to the week saw Litecoin fall from an early morning high $41.03 to a low $40.66.

Litecoin left the major support and resistance levels untested at the start of the week.

LTC/USD 28/06/20 Weekly Chart

Tron’s TRX

Tron’s TRX fell by 2.76% in the week ending 27th June. Following on from a 3.78% slide from the previous week, Tron’s TRX ended the week at $0.015513.

It was a mixed start to the week. Tron’s TRX fell to a Sunday low $0.015799 before rallying to a Wednesday intraweek high $0.016841.

Tron’s TRX broke through the first major resistance level at $0.01679 before hitting reverse.

The reversal saw Tron’s TRX slide through the first major support level at $0.01517 to a Saturday intraweek low $0.014899.

Finding late support on Saturday, Tron’s TRX recovered to $0.0155 levels to limit the downside for the week.

4 consecutive days in the red that included a 3.44% slide on Wednesday delivered the loss for the week.

For the week ahead

Tron’s TRX would need to move through the $0.01575 pivot to support a run at the first major resistance level at $0.01660.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.016 levels.

Barring a broad-based crypto rally, the first major resistance level and last week’s high $0.016841 would likely cap any upside.

In the event of a breakout, Tron’s TRX could eye $0.017 levels before any pullback. The second major resistance level at $0.01769 would likely cap any upside, however.

Failure to move through the $0.01575 pivot could see Tron’s TRX spend a 4th consecutive week in the red.

A fall back through to sub-$0.015 levels would bring the first major support level at $0.01466 into play.

Barring another extended crypto sell-off, however, Tron’s TRX should steer well clear of the second major support level at $0.01381.

At the time of writing, Tron’s TRX was down by 1.18% to $0.015330. A bearish start to the week saw Tron’s TRX fall from an early Sunday high $0.015429 to a low $0.015330.

Tron’s TRX left the major support and resistance levels untested at the start of the week.

TRX/USD 28/06/20 Daily Chart

The Crypto Daily – Movers and Shakers – June 25th, 2020

Depositphotos_193678068_s-2019

Bitcoin slid by 3.55% on Wednesday. Following on from a 0.64% decline on Tuesday, Bitcoin ended the day at $9,312.1.

It was a relatively bullish start to the day for Bitcoin, which rose to a mid-morning intraday high $9,684.1.

Falling short of the first major resistance level at $9,709.57, Bitcoin slid to an early afternoon intraday low $9,212.0.

Bitcoin fell through the day’s major support levels and, more importantly, pulled back from $9,500…

Finding late support, Bitcoin briefly recovered to $9,340 levels before easing back. Bitcoin failed to break back through the third major support level at $9,381.03…

The near-term bullish trend remained intact in spite of the recent pullback to $9,300 levels. Bitcoin continues to hold above the 23.6% FIB of $8,900.

For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bearish day on Wednesday.

Tezos (-5.85%) and Stellar’s Lumen (-4.53%) led the way down.

Bitcoin Cash ABC (-3.74%), Bitcoin Cash SV (-3.05%), Ethereum (-3.55%), Litecoin (-3.62%), Monero’s XMR (-3.46%), and Tron’s TRX (-3.44%) weren’t far behind.

Binance Coin (-2.50%), Cardano’s ADA (-0.41%), EOS (-2.78%), and Ripple’s XRP (-2.91%) saw relatively modest losses.

Through the current week, the crypto total market cap rose to a Monday high $272.54bn before falling to a Wednesday low $257.14bn. At the time of writing, the total market cap stood at $259.25bn.

Bitcoin’s dominance jumped to a Monday high 66.20% before sliding to a Wednesday low 65.65%. At the time of writing, Bitcoin’s dominance stood at 65.77%.

This Morning

At the time of writing, Bitcoin was down by 0.26% to $9,287.8. A bearish start to the day saw Bitcoin fall from an early morning high $9,305.6 to a low $9,261.7.

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

Elsewhere, it was a mixed start to the day for the majors.

Monero’s XMR bucked the trend, with a 0.33% gain at the time of writing. It was bearish for the rest of the majors, with Tezos falling by 0.63% to lead the way down.

BTC/USD 25/06/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the $9,400 pivot to support a run at the first major resistance level at $9,593.47.

Support from the broader market would be needed, however, for Bitcoin to break back through to $9,500 levels.

Barring another extended crypto rally, the first major resistance level and resistance at $9,500 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $9,874.83 and resistance at $9,900.

Failure to move through the $9,400 pivot level could see Bitcoin struggle on the day.

A fall back through the morning low $9,261.7 would bring the first major support level at $9,121.37 into play.

In the event of another extended crypto sell-off, the second major support level at $8,930.63 and 23.6% FIB of $8,900 could come into play.

Binance Coin Mid-Week Analysis – Resistance Levels in Play – 24/06/20

Apple iPhone and Binance logo, with dollars and cryptocurrency.

Binance Coin Price Resistance

It’s has been another mixed 1st half of the week for Binance Coin.

While mixed, it was a bullish start to the week. Reversing a 0.58% fall from Sunday, Binance Coin rallied by 3.45% on Monday to deliver the gains early on.

In spite of the upside, however, it was a choppy day on Monday. Binance Coin had fallen to a current week low $15.57 before striking a current week high $16.73 on the day.

Steering clear of the first major support level at $15.34, Binance Coin came within range of the first major resistance level at $16.83.

Going into Tuesday, a bearish start to the day saw Binance Coin fall back to $16.22 levels before finding support.

A recovery to $16.3 levels limited the loss on the day, to give Binance Coin a current week gain of 2.05%, Sunday through Tuesday.

The near-term bearish trend remained intact, supported by the late 2019 reversal and mid-March’s swing lo $6.42.

It’s had been a relatively bullish start to the year before the current downtrend. Having been up by as much as 101% year-to-date, Binance Coin was up by 20.07% year-to-date.

For the bulls, Binance Coin would need to break through the 62% FIB of $27.3 to form a near-term bullish trend.

At the time of writing, Binance Coin was up by 0.08% to $16.40. A mixed start to the day on Wednesday saw Binance Coin fall to an early morning low $16.32 before striking a high $16.47.

Binance Coin steered clear of the major support and resistance levels in the early part of the day.

BNB/USD 24/06/20 Weekly Chart

For the remainder of the week

Binance Coin would need to avoid a fall back through the $16.10 pivot to support a run at the first major resistance level at $16.83.

Support from the broader market would be needed, however, for Binance Coin to break out from the current week high $16.73.

Barring a broad-based crypto rally, the first major resistance level and last week’s high $16.88 would likely cap any upside.

In the event of another breakout, the second major resistance level at $17.60 could come into play. Expect plenty of resistance at $17.

Failure to avoid a fall back through the $16.10 pivot could see Binance Coin fall deep into the red.

A pullback through to sub-$16 levels would bring the first major support level at $15.34 back into play.

Barring another extended crypto sell-off, however, Binance Coin should avoid sub-$15 levels.

Looking at the Technical Indicators

Major Support Level: $15.34

Major Resistance Level: $16.83

23.6% FIB Retracement Level: $14.4

38.2% FIB Retracement Level: $19.4

62% FIB Retracement Level: $27.3

The Crypto Daily – Movers and Shakers – June 23rd, 2020

bitcoin with us dollars and calculator

Bitcoin rallied by 4.28% on Monday. Reversing a 0.78% loss from Sunday, Bitcoin ended the day at $9,697.7.

It was a bullish day for Bitcoin and the broader market.

Bitcoin rallied from an early morning intraday low $9,285.2 to a late intraday high $9,795.0 before easing back.

The day-long rally saw Bitcoin break through the day’s major resistance levels to briefly visit $9,700. It was a first visit to $9,700 levels since 11th June.

In spite of a late pullback, Bitcoin avoided a fall back through the third major resistance level at $9,610.47.

The near-term bullish trend remained intact in spite of a 2nd consecutive week in the red last week. Bitcoin continues to hold above the 23.6% FIB of $8,900.

For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was also a bullish start to the week.

Cardano’s ADA and Ethereum led the day, with gains of 6.61% and 6.82% respectively.

Bitcoin Cash ABC (+4.67%), Bitcoin Cash SV (+3.90%), and Stellar’s Lumen (+4.14%) weren’t far behind.

Binance Coin (+3.38%), EOS (+3.10%), Litecoin (+3.12%), Monero’s XMR (+2.50%), Ripple’s XRP (+1.91%), Tezos (+3.69%), and Tron’s TRX (+3.37%) trailed the front runners.

Through the start of the week, the crypto total market cap rose from a Monday low $258.11bn to a high $272.54bn. At the time of writing, the total market cap stood at $269.26bn.

Bitcoin’s dominance fell to a Monday low 65.82% before jumping to a high 66.28%. At the time of writing, Bitcoin’s dominance stood at 66.05%.

This Morning

At the time of writing, Bitcoin was down by 0.26% to $9,672.4. A mixed start to the day saw Bitcoin rise to an early morning high $9,724.0 before falling to a low $9,672.1.

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

Elsewhere, it was a mixed start to the day for the majors.

Bitcoin Cash SV (+0.30%) and Monero’s XMR (+0.02%) were in the green at the time of writing.

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

Tezos was down by 1.10% to lead the way down.

BTC/USD 23/06/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $9,590 pivot to support a run at the first major resistance level at $9,900.

Support from the broader market would be needed, however, for Bitcoin to break out from Monday’s high $9,795.0.

Barring another extended crypto rally, the first major resistance level at $9,900 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $10,102.43.

Failure to avoid the $9,590 pivot level could see Bitcoin struggle on the day.

A fall through the pivot would bring the first major support level at $9,390.27 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer well clear of the second major support level at $9,092.83.

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 21/06/20

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Binance Coin

Binance Coin fell by 4.52% in the week ending 20th June. Following on from a 4.27% decline from the previous week, Binance Coin ended the week at $16.06.

It was another mixed start to the week for Binance Coin and the broader market.

Binance Coin rose to a Sunday intraweek high $16.88 before hitting reverse.

Falling well short of the first major resistance level at $17.91, Binance Coin slid to a Monday intraweek low $15.39.

Binance Coin fell through the first major support level at $15.73 before finding support.

A move back through to $16 levels on Monday reversed losses on the day before returning to the red mid-week.

Off the back of 3 consecutive days in the red, Tuesday through Thursday, Binance Coin fell back to sub-$16s.

The reversal saw Binance Coin fall back through the first major support level before support kicked.

A relatively bullish day on Saturday saw Binance Coin recover to $16 levels to limit the loss on the week.

5-days in the red for the week delivered the downside, however. A 1.6% slide on Sunday was the biggest daily loss in the week.

For the week ahead

Binance Coin would need to avoid a fall through to $16.10 levels to bring the first major resistance level at $16.83 into play.

Support from the broader market would be needed for Binance Coin to break out from $16.50 levels.

Barring a broad-based crypto rally, the first major resistance level and last week’s high $16.88 would likely cap any upside.

In the event of a breakout, Binance Coin could take a run at the second major resistance level at $17.60 and $18 levels before any pullback.

Failure to avoid a fall through to sub-$16.10 levels could see Binance Coin struggle throughout the week.

A fall back through sub-$16.10 levels would bring the first major support level at $15.34 into play.

Barring a crypto meltdown, however, Binance Coin should steer clear of sub-$15 support levels. The second major support level sits at $14.62.

At the time of writing, Binance Coin was up by 0.78% to $16.18. A bullish start to the week saw Binance Coin rise from an early morning low $16.01 to a high $16.35.

Binance Coin left the major support and resistance levels untested at the start of the week.

LTC/USD 21/06/20 Weekly Chart

Litecoin

Litecoin fell by 3.42% in the week ending 20th June. Following on from a 3.61% slide from the previous week, Litecoin ended the week at $43.54.

It was a bearish start to the week. Litecoin slid from a Sunday intraweek high $45.08 to a Monday intraweek low $41.75 before finding support.

Falling well short of the major resistance levels, Litecoin slid through the first major support level at $42.41.

Finding support mid-week, Litecoin recovered to $45 levels on Wednesday before falling back into the red.

2 consecutive days in the red, following 2 consecutive days in the green saw Litecoin fall back to a low $42.23.

Litecoin fell back through the first major support level before a 1.66% gain on Saturday to limit the loss from the week.

4-days in the red that included a 2.40% slide on Sunday delivered the downside for the week.

For the week ahead

Litecoin would need to move through to $43.50 levels to support a run at the first major resistance level at $45.16.

Support from the broader market would be needed, however, for Litecoin to break out from last week’s high $45.08.

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

Failure to move through to $43.50 levels could see Litecoin come under further pressure.

A fall through to sub-$43 levels would bring the first major support level at $41.83 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$40 levels. The second major support level at $40.13 should limit any downside.

At the time of writing, Litecoin was down by 0.11% to $43.49. A mixed start to the week saw Litecoin rise to an early morning high $43.82 before falling to a low $43.49 on Sunday.

Litecoin left the major support and resistance levels untested at the start of the week.

LTC/USD 21/06/20 Weekly Chart

Tron’s TRX

Tron’s TRX slid by 3.78% in the week ending 20th June. Following on from a 1.82% decline from the previous week, Tron’s TRX ended the week at $0.016033.

It was a bearish start to the week. Tron’s TRX rose to a Sunday intraweek high $0.16678 before hitting reverse.

Coming up well short of the first major resistance level at $0.01849, Tron’s TRX slid to a Monday intraweek low $0.015058.

Tron’s TRX came within range of the first major support level at $0.01502 before finding support.

Off the back of 3 consecutive days in the green, Tron’s TRX recovered to $0.01640 levels before sliding back.

2 consecutive days in the red saw Tron’s TRX slide back to sub-$0.01570 before finding support.

4-days in the green, which included a 0.84% gain on Saturday, were not enough to reverse losses from the start of the week.

For the week ahead

Tron’s TRX would need to avoid a fall through the $0.01590 pivot to support a run at the first major resistance level at $0.01679.

Support from the broader market would be needed, however, for Tron’s TRX to break out from last week’s high $0.016678.

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

In the event of a breakout, Tron’s TRX could eye $0.018 levels before any pullback. The second major resistance level at $0.01754 and resistance at $0.018 would likely cap any upside, however.

Failure to avoid a through the $0.01590 pivot could see Tron’s TRX spend a 3rd consecutive week in the red.

A fall back through to sub-$0.01590 levels would bring the first major support level at $0.01517 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer well clear of the second major support level at $0.01430.

At the time of writing, Tron’s TRX was down by 0.42% to $0.015965. A mixed start to the week saw Tron’s TRX fall to a low $0.015940 before rising to an early morning high $0.016022.

Tron’s TRX left the major support and resistance levels untested at the start of the week.

BNB/USD 21/06/20 Weekly Chart

The Crypto Daily – Movers and Shakers – June 18th, 2020

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Bitcoin fell by 0.64% on Wednesday. Partially reversing a 1.05% gain from Tuesday, Bitcoin ended the day at $9,473.4.

A mixed start to the day saw Bitcoin fall to an early morning low $9,430.0 before making a move.

Steering clear of the first major support level at $9,418.27, Bitcoin rose to an early afternoon intraday high $9,566.0.

Falling short of the first major resistance level at $9,620.27, Bitcoin slid to a late intraday low $9,260.0.

Bitcoin fell through the first major support level at $9,418.27 and the second major support level at $9.302.13.

Finding support late on, Bitcoin bounced back to $9,400 levels to limit the downside on the day.

The recovery saw Bitcoin break back through the support levels on the way.

The near-term bullish trend remained intact in spite of last week’s sell-off, with Bitcoin holding well above the 23.6% FIB of $8,900.

For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

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

Cardano’s ADA rallied by 5.23% to lead the way.

Bitcoin Cash ABC (+1.81%) and Tezos (+2.20%) also found strong support.

EOS (+0.64%), Litecoin (+0.30%), Ripple’s XRP (+0.44%), Stellar’s Lumen (+0.91%), and Tron’s TRX (+1.00%) saw modest gains on the day.

It was bearish for the rest of the pack, however.

Binance Coin (-0.30%), Bitcoin Cash SV (-1.40%), Ethereum (-0.70%), and Monero’s XMR (-1.06%) joined Bitcoin in the red.

Through the current week, the crypto total market cap fell to a Monday low $246.94bn before rising to a Wednesday high $266.87bn. At the time of writing, the total market cap stood at $263.10bn.

On Monday, Bitcoin’s dominance rose to a Monday high 66.60% before sliding to a Wednesday low 65.87%. At the time of writing, Bitcoin’s dominance stood at 65.96%.

This Morning

At the time of writing, Bitcoin was down by 0.34% to $9,441.2. A bearish start to the day saw Bitcoin fall from an early morning high $9,476.2 to a low $9,420.8.

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

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV (+0.13%), Cardano’s ADA (+0.53%) EOS (+0.15%), Stellar’s Lumen (+0.16%), and Tezos (+0.38%) bucked the trend early on.

Bearish for the rest of the majors, Ripple’s XRP was down by 0.19% to lead the way down.

BTC/USD 18/06/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall back through to sub-$9,433 levels to bring the first major resistance level at $9,606.27 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Wednesday’s high $9.566.0.

Barring a broad-based crypto rally, the first major resistance level and Wednesday’s high would likely cap any upside.

In the event of a crypto breakout, Bitcoin could eye $9,700 levels and the second major resistance level at $9,739.13.

Failure to avoid a fall the $9,433 pivot level could see Bitcoin fall deeper into the red.

A fall through the morning low $9,420.8 would bring the first major support level at $9,300.27 into play.

Barring another extended crypto sell-off, however, Bitcoin should steer clear of sub-$9,000 levels. The second major support level at $9,127.13 should limit any downside.