Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 12/07/20

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Binance Coin

Binance Coin rallied by 13.23% in the week ending 11th July. Following on from a 2.91% gain from the previous week, Binance Coin ended the week at $17.63.

It was a bearish start to the week. Binance Coin fell to a Sunday intraweek low $15.07 before making a move.

Steering clear of the first major support level at $14.95, Binance Coin rallied to a Wednesday high $17.70 before easing back.

Binance Coin broke through the first major resistance level at $16.10 and the second major resistance level at $16.65.

Coming within range of the third major resistance level at $17.80 hit reverse on Thursday. A 2.59% slide saw Binance Coin fall back to sub-$16.40 levels before finding support.

A bullish end to the week saw Binance Coin rally to a Saturday intraweek high $17.84 before easing back.

The third major resistance level at $17.80 capped the upside at the end of the week.

5 days in the green that included 5.32% rally on Monday delivered the upside for the week.

For the week ahead

Binance Coin would need to avoid a fall through the $16.85 pivot to bring the first major resistance level at $18.62 into play.

Support from the broader market would be needed for Binance Coin to break out from $18.50 levels.

Barring another broad-based crypto rally, the first major resistance level would likely leave Binance Coin short of $19 levels.

In the event of a breakout, Binance Coin would likely take a run at 38.2% FIB of $19.4 and the second major resistance level at $19.62.

Failure to avoid a fall through the $16.85 pivot would bring the first major support level at $15.85 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 $14.08.

At the time of writing, Binance Coin was up by 1.78% to $17.94. A bullish start to the week saw Binance Coin rise from an early Sunday morning low $17.60 to a high $18.03.

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

BNB/USD 12/07/20 Weekly Chart

Litecoin

Litecoin rose by 6.17% in the week ending 11th July. Following on from a 2.73% gain from the previous week, Litecoin ended the week at $44.74.

Tracking the broader market, Litecoin fell by 1.33% on Sunday before finding support. The pullback saw Litecoin fall through the first major support level at $40.90 to an intraweek low $40.75.

Finding support throughout the week, Litecoin rallied to a Thursday intraweek high $45.86 before hitting reverse.

Litecoin broke through the major resistance levels of the week before falling back to sub-$44 levels.

The pullback saw Litecoin fall through the third major resistance level to find support at the second major resistance level at $43.50.

A bullish end to the week saw Litecoin break back through to $44 levels.

Litecoin saw just 3 days in the green, with a 5.87% rally on Monday delivering the upside.

For the week ahead

Litecoin would need to avoid a fall through the $43.78 pivot to support a run at the first major resistance level at $46.82.

Support from the broader market would be needed, however, for Litecoin to break out from last week’s high $45.86.

Barring another extended crypto rally, the first major resistance level at $46.82 would likely cap any upside.

Failure to avoid a fall through the $43.78 pivot could see Litecoin come under further pressure.

A fall through to sub-$43 levels would bring the first major support level at $41.71 into play.

Barring an extended crypto sell-off, however, Litecoin should steer well clear of the second major support level at $38.67.

At the time of writing, Litecoin was up by 0.36% to $44.90. A bullish start to the week saw Litecoin rise from an early Sunday morning low $44.71 to a high $45.09.

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

LTC/USD 12/07/20 Weekly Chart

Tron’s TRX

Tron’s TRX rallied 9.24% in the week ending 11th July. Following on from an 8.81% gain from the previous week, Tron’s TRX ended the week at $0.018407.

It was a bullish start to the week. Tron’s TRX rallied from a Sunday intraweek low $0.016355 to a Thursday intraweek high $0.019144.

Steering clear of the major support levels, Tron’s TRX broke through the first major resistance level at $0.01758 and the second major resistance level at $0.01838.

Coming up short of the third major resistance level at $0.02031, Tron’s TRX fell back through the second major support level.

Finding support on Saturday, however, Tron’s TRX moved back through the second major support level to wrap up the week at $0.01840 levels.

5 days in the green that included a 6.51% rally on Monday delivered the upside for the week.

For the week ahead

Tron’s TRX would need to avoid a fall through the $0.018 pivot to support a run at the first major resistance level at $0.01958.

Support from the broader market would be needed, however, for Tron’s TRX to break out from last week’s high $0.019144.

Barring another 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 $0.020 levels before any pullback. The second major resistance level at $0.02076 would likely cap any upside, however.

Failure to avoid a fall through the $0.018 pivot would bring the first major support level at $0.01679 into play.

Barring another extended crypto sell-off, however, Tron’s TRX should avoid sub-$0.015 levels. The second major support level at $0.01518 should limit any downside.

At the time of writing, Tron’s TRX was up by 0.12% to $0.018429. A mixed start to the week saw Tron’s TRX rise an early high $0.018526 before falling to a low $0.018344.

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

TRX/USD 12/07/20 Daily Chart

The Crypto Daily – Movers and Shakers – July 9th, 2020

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

Bitcoin rose by 1.94% on Wednesday. Reversing a 1.00% loss from Tuesday, Bitcoin ended the day at $9,447.0.

It was a mixed start to the day for Bitcoin. Bitcoin fell to an early morning intraday low $9,256.0 before making a move.

Steering clear of the first major support level at $9,189.27, Bitcoin rallied to a mid-afternoon intraday high $9,490.1.

Bitcoin broke through the first major resistance level at $9,367.57 and the second major resistance level at $9,467.63.

A late pullback saw Bitcoin fall back through the second major resistance level to a low $9,401.3.

Finding late support, however, Bitcoin avoided the first major resistance level to wrap up the day at $ 9,400 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 particularly bullish day on Wednesday.

Cardano’s ADA (+10.54%), Ripple’s XRP (+10.98%), and Stellar’s Lumen (+15.61%) lead the way.

EOS (+4.80%), Litecoin (+4.47%), Tezos (+5.67%), and Tron’s TRX (+4.64%) also found strong support.

Binance Coin (+2.86%), Bitcoin Cash ABC (+1.90%), Bitcoin Cash SV (+1.48%), Ethereum (+3.25%), and Monero’s XMR (+2.55%) trailed the front runners.

In the current week, the crypto total market cap rose from a Monday low $254.54bn to Wednesday high $272.25bn. At the time of writing, the total market cap stood at $271.24bn.

Bitcoin’s dominance fell from a Monday high 65.58% to a Wednesday low 63.83%. At the time of writing, Bitcoin’s dominance stood at 64.03%.

This Morning

At the time of writing, Bitcoin was down by 0.21% to $9,427.5. A mixed start to the day saw Bitcoin rise to an early morning high $9,451.7 before falling to a low $9,411.5.

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

Elsewhere, it was a mixed start to the day.

At the time of writing, Stellar’s Lumen and Binance Coin bucked the trend, with gains of 1.78% and 0.24% respectively.

It was bearish for the rest of the majors, with Cardano’s ADA (-1.43%), Ripple’s XRP (-1.05%), and Tezos (-1.26%) leading the way down.

BTC/USD 09/07/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $9,400 pivot to support a run at the first major resistance level at $9,544.13.

Support from the broader market would be needed, however, for Bitcoin to break out from Wednesday’s high $9,497.2.

Barring an extended crypto rebound, the first major resistance level would likely cap any upside.

In the event of a crypto breakout, Bitcoin should break through the second major resistance level at $9,641.27.

Failure to avoid a fall through the $9,400 pivot level would bring the first major support level at $9,302.93 into play.

Barring an extended crypto sell-off, however, Bitcoin should avoid sub-$9,300 levels. The second major resistance level sits at $9,158.87.

Binance Coin Mid-Week Analysis – Resistance Levels in Play – 08/07/20

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 start of the week was bearish, however, with Binance Coin falling to a Sunday current week low $15.07 before finding support.

Steering clear of the first major support level at $14.95, Binance Coin recovered to end Sunday with a 0.42% loss on the day

Bullish through Monday and Tuesday, Binance Coin rallied to a Tuesday high $17.08.

Binance Coin broke through the first major resistance level at $16.10 and the second major resistance level at $16.65.

Coming up short of the third major resistance level at $17.80, Binance Coin fell back to sub-$17 levels on the day.

The second major resistance level at $16.65 delivered support late in the day on Tuesday.

For the current week, Sunday through Tuesday, Binance Coin was up by 7.90% to $16.90. Two consecutive days in the green delivered the upside. Binance Coin saw gains of 5.32% and 2.92% on Monday and Tuesday respectively.

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 reversal. Having been up by as much as 101% year-to-date, Binance Coin was up by 23.08% 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 0.76% to $16.92. A bullish start to the day on Wednesday saw Binance Coin rise from an early morning low $16.60 to a current week high $17.09.

Binance Coin continued to hold above the second major resistance level at $16.65.

BNB/USD 08/07/20 Weekly Chart

For the remainder of the week

Binance Coin would need to move back through $17 levels to support another run at the third major resistance level at $17.80.

Support from the broader market would be needed, however, for Binance Coin to break out from the current week high $17.09.

Barring an extended crypto rally, resistance at $17 would likely continue to limit any upside.

In the event of another breakout, a breakthrough the third major resistance level would bring $18 levels into play.

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

A pullback through to sub-$16 and the $15.50 pivot would bring the first major support level at $14.95 into play.

Barring an extended crypto sell-off, however, Binance Coin should avoid sub-$16 levels.

Looking at the Technical Indicators

Major Support Level: $14.95

Major Resistance Level: $16.10

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 – July 7th, 2020

bitcoin with us dollars and calculator

Bitcoin rose by 2.99% on Monday. Reversing a 0.68% fall from Sunday, Bitcoin ended the day at $9,361.1.

It was a mixed start to the day for Bitcoin. Bitcoin fell to an early morning intraday low $9,075.8 before finding support.

Steering clear of the first major support level at $8,950.77, Bitcoin rallied to a final hour intraday high $9,389.6.

Bitcoin broke through the first major resistance level at $9,185.07 and the second major resistance level at $9,285.83.

Notably, Bitcoin wrapped up the day at $9,300 levels for the 1st time since 24th June.

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 Monday.

Bitcoin Cash SV led the way, rallying by 25.23%.

Bitcoin Cash ABC (+8.96%), Cardano’s ADA (+7.08%), EOS (+8.56%), Ethereum (+6.16%), Ripple’s XRP (+6.66%), Stellar’s Lumen (+6.86%), Tezos (+6.66%), and Tron’s TRX (+6.53%) also found strong support.

Binance Coin (+5.29%), Litecoin (+5.87%), Monero’s XMR (+2.62%), trailed the front runners.

Through Monday, the crypto total market cap rose from a low $254.54bn to a high $266.49bn. At the time of writing, the total market cap stood at $265.61bn.

Bitcoin’s dominance fell from a Monday high 65.58% to a low 64.62%. At the time of writing, Bitcoin’s dominance stood at 64.78%.

This Morning

At the time of writing, Bitcoin was down by 0.04% to $9,357.3. A mixed start to the day saw Bitcoin fall to an early morning low $9,349.6 before rising to a high $9,389.4.

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

Elsewhere, it was a mixed start to the day.

At the time of writing, Bitcoin Cash SV (-0.46%), Cardano’s ADA (-0.05%), EOS (-0.10%), Ethereum (-0.10%), Ripple’s XRP (-0.14%), and Tron’s TRX (-0.61%) joined Bitcoin in the red.

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

Binance Coin was up by 0.56% to lead the way.

BTC/USD 07/07/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $9,275 pivot to support a run at the first major resistance level at $9,475.2.

Support from the broader market would be needed, however, for Bitcoin to break out from Monday’s high $9,389.6.

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 should break through the second major resistance level at $9,589.3.

Failure to avoid a fall through the $9,275 pivot level would bring the first major support level at $9,161.4 into play.

Barring an extended crypto sell-off, however, Bitcoin should avoid sub-$9,200 levels.

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