Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 30/08/20

crypto currency mining concept

Binance Coin

Binance Coin rallied by 3.28% in the week ending 29th August. Reversing a 3.85% slide from the previous week, Binance Coin ended the week at $22.96.

A mixed start to the week saw Binance Coin rise to a Monday high $23.01 before hitting reverse.

Falling short of the first major resistance level at $24.19, Binance Coin slid to a Tuesday intraweek low $20.70.

Finding support at the first major support level at $20.75, Binance coin rallied to a Friday intraweek high $23.92.

Continuing to fall short of the major resistance levels, Binance Coin slipped back to $23 levels before steadying.

3 days in the green that included a 3.98% gain on Thursday and a 3.85% gain on Wednesday delivered the upside. A 5.38% slide on Tuesday weighed, however.

For the week ahead

Binance Coin would need to avoid a fall through the $22.53 pivot to bring the first major resistance level at $24.35 into play.

Support from the broader market would be needed for Binance Coin to break out from last week’s high $23.92.

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

In the event of a breakout, Binance Coin could take a run at the second major resistance level at $25.75 before any pullback.

Failure to avoid a fall through the $22.53 pivot would bring the first major support level at $21.13 into play.

Barring a crypto sell-off, Binance Coin should continue to avoid sub-$19 levels. The 38.2% FIB of $19.4 and the second major support level at $19.31 should limit any downside.

At the time of writing, Binance Coin was up by 0.32% to $23.03. A bullish start to the week saw Binance Coin rise from an early Sunday morning low $22.63 to a high $23.41.

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

BNB/USD 30/08/20 Daily Chart

Litecoin

Litecoin slid by 5.42% in the week ending 29th August. Reversing a 0.65% gain from the previous week, Litecoin ended the week at $57.01.

It was a bullish start to the week. Litecoin rallied to a Monday intraweek high $62.99 before hitting reverse.

Falling short of the first major resistance level at $67.00 Litecoin slid to a Thursday intraweek low $53.98.

The reversal saw Litecoin fall through the first major support level at $55.64 before finding support.

Finding support at the 23.6% FIB of $54, Litecoin moved back through the first major support level to $58 levels before easing back.

4 days in the red that included a 5.90% slide on Tuesday and a 3.43% fall on Thursday left Litecoin in the red.

For the week ahead

Litecoin would need to avoid a fall through the $57.99 pivot to support a run at the first major resistance level at $62.01.

Support from the broader market would be needed, however, for Litecoin to break back through to $60 levels.

Barring another extended crypto rally, the first major resistance level and last week’s high $62.99 would likely cap any upside.

A fall through the $57.99 pivot would bring the 23.6% FIB of $54 and the first major support level at $53 into play.

Barring an extended crypto sell-off, however, Litecoin should continue to steer clear of sub-$50 levels. The second major support level sits at $48.98.

At the time of writing, Litecoin was up by 2.56% to $58.47. A bullish start to the week saw Litecoin rise from an early Sunday morning low 56.94 to a high $58.67.

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

LTC/USD 30/08/20 Daily Chart

Tron’s TRX

Tron’s TRX fell by 1.31% in the week ending 29th August. Following on from a 0.23% loss from the previous week, Tron’s TRX ended the week at $0.024894.

It was a mixed start to the week. After a bearish Sunday, Tron’s TRX rose to a Monday intraweek high $0.025795 before hitting reverse.

Falling short of the first major resistance level at $0.03091, Tron’s TRX fell to a Thursday intraweek low $0.021912.

Steering clear of the first support level at $0.02134, Tron’s TRX recovered to $0.025 before easing back.

3 days in the red that included an 8.63% slide on Tuesday delivered the downside for the week.

For the week ahead

Tron’s TRX would need to avoid a fall through the $0.02420 pivot to support a run at the first major resistance level at $0.02649.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Sunday morning’s high $0.02647.

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

In the event of a breakout, Tron’s TRX could test the second major resistance level at $0.02808 before any pullback.

A fall through the $0.02420 pivot would bring the first major support level at $0.02261 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should avoid sub-$0.020 support levels. The second major support level at $0.02032 should limit any downside.

At the time of writing, Tron’s TRX was up by 4.89% to $0.02611. A particularly bullish start to the week saw Tron’s TRX rally from an early Sunday morning low $0.02487 to a high $0.02647.

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

TRX/USD 30/08/20 Daily Chart

The Crypto Daily – The Movers and Shakers – August 27th, 2020

Pattern of coins LTC, ETH, BTC, XMR, XRP on a dark background. Business concept.

Bitcoin, BTC to USD, rose by 1.15% on Wednesday. Partially reversing a 3.60% slide from Tuesday, Bitcoin ended the day at $11,471.1.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $11,219.9 before making a move.

Steering clear of the first major support level at $11,059.6, Bitcoin rose to a late afternoon intraday high $11,546.0.

Falling short of the first major resistance level at $11,700.6, Bitcoin fell back to end the day at sub-$11,500 levels.

The near-term bullish trend remained intact, supported by the latest move through to $12,000 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 for the majors on Wednesday.

Binance Coin and Tron’s TRX rallied by 3.83% and by 3.24% to lead the way on the day.

Bitcoin Cash ABC (+0.17%), Cardano’s ADA (+1.75%), Ethereum (+0.74%), Monero’s XMR (+0.42%), Ripple’s XRP (+0.05%), and Stellar’s Lumen (+0.80%), also found support.

Bitcoin Cash SV (-0.15%), EOS (-0.15%), Litecoin (-0.45%), and Tezos (-2.16%) saw red on the day, however.

In the current week, the crypto total market rose to a Monday high $360.52bn before falling to a Tuesday low $331.45bn. At the time of writing, the total market cap stood at $345.56bn.

Bitcoin’s dominance fell to a Monday low 60.62% before rising to a Tuesday high 64.08%. At the time of writing, Bitcoin’s dominance stood at 61.26%.

This Morning

At the time of writing, Bitcoin was up by 0.07% to $11,479.0. A mixed start to the day saw Bitcoin fall to an early morning low $11,459.0 before rising to a high $11,492.0.

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

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

At the time of writing, Tron’s TRX was up by 2.34% to lead the way.

BTC/USD 27/08/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $11,412 to support a run at the first major resistance level at $11,605.

Support from the broader market would be needed, however, for Bitcoin to break out from Wednesday’s high $11,546.0.

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

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $11,738 before any pullback.

Failure to avoid a fall through the $11,412 pivot level would bring the first major support level at $11,279 into play.

Barring another extended crypto sell-off, however, Bitcoin should avoid sub-$11,000 levels. The second major support level at $11,086 should limit any downside.

Binance Coin Mid-Week Analysis – Support Levels in Play – 26/08/20

Apple iPhone and Binance logo, with dollars and cryptocurrency.

Binance Coin Price Support

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

Binance Coin fell by 1.64% on Sunday before finding support. Binance Coin recovered from a Sunday low $21.38 to strike a Monday current week high $23.01.

Steering clear of the first major support level at $20.75, Binance Coin also came up short of the first major resistance level at $24.19.

Following a 3.54% rally on Monday, Binance Coin slid by 5.38% on Tuesday. The sell-off saw Binance Coin fall through the first major support level at $20.75 to a current week low $20.70.

A late recovery on Tuesday back through to $21 levels reduced the deficit for the current week, however.

For the current week, Sunday through Tuesday, Binance Coin was down by 3.73% to $21.41. Two days in the red delivered the losses in the early part of the week.

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

It had been a particularly bullish start to the year before the reversal. Having been up by as much as 101% year-to-date, Binance Coin was up by 56.8% 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 2.55% to $21.95. A bullish start to the day on Wednesday saw Binance Coin rise from an early morning low $21.25 to a high $22.24.

Binance Coin continued to leave the major support and resistance levels untested early in the day, however.

BNB/USD 26/08/20 Daily Chart

For the remainder of the week

Binance Coin would need to move back through the $22.73 pivot level to support another run at the first major resistance level at $24.19.

Support from the broader market would be needed, however, for Binance Coin to break back through to $24 levels.

Barring an extended crypto rebound, the first major resistance level and last week’s high $24.7 would likely limit any upside.

In the event of another recovery, Binance Coin could test the second major resistance level at $26.17 before any pullback.

Failure to move through the $22.73 pivot level would bring the first major support level at $20.75 back into play.

Barring an extended crypto sell-off, however, Binance Coin should avoid sub-$20 levels and the 38.2% FIB of $19.4. The second major support level sits at $19.29.

Looking at the Technical Indicators

Major Support Level: $20.75

Major Resistance Level: $24.19

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 – August 25th, 2020

Bitcoin coin on white keyboard

Bitcoin, BTC to USD, rose by 0.90% on Monday. Reversing a 0.17% loss from Sunday, Bitcoin ended the day at $11,768.0.

It was a mixed start to the day. Bitcoin fell to an early morning intraday low $11,605.0 before making a move.

Steering clear of the first major support level at $11,555, Bitcoin struck a late morning intraday high $11,847.0.

Bitcoin broke through the first major resistance level at $11,755 before falling back to an afternoon low $11,714. The second major resistance level at $11,844 had pinned Bitcoin back in the late morning.

Finding support late in the day, however, Bitcoin broke back through the first major resistance level. Resistance at $11,800 limited the upside late in the day.

The near-term bullish trend remained intact, supported by the latest move through to $12,000 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 for the majors on Monday.

Ethereum (+4.37%), Bitcoin Cash SV (+4.94%), and Tezos (+4.60%) led the way.

Binance Coin (+3.43%), Bitcoin Cash ABC (+3.26%), Litecoin (+2.36%), Monero’s XMR (+3.69%), and Tron’s TRX (+3.34%) also found strong support.

Cardano’s ADA (+1.79%), EOS (+1.99%), Ripple’s XRP (+1.38%), and Stellar’s Lumen (+0.14%) trailed the front runners.

In the current week, the crypto total market rose from a Monday low $348.45bn to a high $358.21bn. At the time of writing, the total market cap stood at $345.46bn.

Bitcoin’s dominance rose to a Monday high 61.44% before falling to a Monday low 60.94%. At the time of writing, Bitcoin’s dominance stood at 61.01%.

This Morning

At the time of writing, Bitcoin was down by 0.15% to $11,750.0. A bearish start to the day saw Bitcoin fall from an early morning high $11,776.0 to a low $11,750.0.

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

Elsewhere, it was a bearish start to the day.

At the time of writing, Tezos was down by 1.28% to lead the way down.

Monero’s XMR bucked the trend early on, however, rising by 0.04%.

BTC/USD 25/08/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $11,740 to support a run at the first major resistance level at $11,875.

Support from the broader market would be needed, however, for Bitcoin to break out Monday’s high $11,847.

Barring an extended crypto rally, 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 $11,982 and resistance at $12,000 before any pullback.

Failure to avoid a fall through the $11,740 pivot level would bring the first major support level at $11,633 into play.

Barring an extended crypto sell-off, however, Bitcoin should avoid sub-$11,500 levels and the second major support level at $11,498.

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 23/08/20

Kiev, Ukraine, March, 13, 2018: Coins of different crypto-currencies with dollars

Binance Coin

Binance Coin fell by 3.85% in the week ending 22nd August. Reversing a 0.79% gain from the previous week, Binance Coin ended the week at $22.22.

A bullish start to the week saw Binance Coin rally to a Monday intraweek high $24.70 before hitting reverse.

Binance Coin broke through the first major resistance level at $24.60 before sliding to a Saturday intraweek low $21.26.

Steering clear of the first major support level at $21.04, Binance coin moved back through to $22 levels to cut the deficit for the week.

4 days in the red that included a 4.36% slide on Friday delivered the downside. A 1.88% rise on Sunday and a 3.19% gain on Thursday, limited losses for the week, however.

For the week ahead

Binance Coin would need to move through the $22.73 pivot to bring the first major resistance level at $24.19 into play.

Support from the broader market would be needed for Binance Coin to break back through to $24 levels.

Barring a broad-based crypto rally, the first major resistance level and last week’s high $24.70 would likely limit any upside.

In the event of a breakout, Binance Coin could take a run at the second major resistance level at $26.17 before any pullback.

Failure to move through the $22.73 pivot would bring the first major support level at $20.75 into play.

Barring a crypto sell-off, Binance Coin should avoid sub-$19 levels. The 38.2% FIB of $19.4 and the second major support level at $19.29 should limit any downside.

At the time of writing, Binance Coin was down by 0.73% to 22.05. It was a bearish start to the week on Sunday. Binance Coin fell from an early Sunday morning high $22.27 to a low $21.99.

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

BNB/USD 23/08/20 Daily Chart

Litecoin

Litecoin rose by 0.65% in the week ending 22nd August. Following on from a 2.46% gain from the previous week, Litecoin ended the week at $60.32.

It was a bullish start to the week. Litecoin rallied to a Monday intraweek high $69.00 before hitting reverse.

Litecoin broke through the first major resistance level at $63.32 and the second major resistance level at $66.75.

The reversal saw Litecoin slide to a Saturday intraweek low $57.75. While falling back through the major resistance levels, Litecoin steered clear of the first major support level at $54.04.

Finding support at the end of the week, Litecoin moved back through to $60 levels to end the week in the green.

3 days in the red that included a 5.20% slide on Tuesday and a 5.83% slide on Friday pinned Litecoin back. A 6.69% gain on Sunday and a 5.30% rise on Monday provided the needed support. It was ultimately a 2% gain on Saturday, however, that delivered the upside for the week.

For the week ahead

Litecoin would need to move through the $62.32 pivot to support a run at the first major resistance level at $67.00.

Support from the broader market would be needed, however, for Litecoin to break out from $65 levels.

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

Failure to move through the $62.32 pivot would bring the first major support level at $55.64 and the 23.6% FIB of $54 into play.

Barring an extended crypto sell-off, however, Litecoin should continue to steer clear of sub-$50 levels. The second major support level at $50.96 should limit any downside.

At the time of writing, Litecoin was down by 1.33% to $59.52. A mixed start to the week saw Litecoin rise to an early Sunday morning high $60.65 before falling to a low $59.04.

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

LTC/USD 23/08/20 Daily Chart

Tron’s TRX

Tron’s TRX fell by 0.23% in the week ending 22nd August. Following the previous week’s 23.21% rally, Tron’s TRX ended the week at $0.025259.

It was a bullish start to the week. Tron’s TRX rallied to a Tuesday intraweek high $0.03276 before hitting reverse.

Tron’s TRX broke through the first major resistance level at $0.02793 and the second major resistance level at $0.03062.

The reversal saw Tron’s TRX slide to a Saturday intraweek low $0.023189.

Steering clear of the first support level at $0.02076, Tron’s TRX recovered to $0.025 levels to limit the loss on the week.

3 days in the red that included an 8.20% slide on Tuesday and an 11.18% tumble on Friday delivered the downside for the week. A 12.32% rally on Sunday and 3.58% gain on Saturday limited the downside for the week, however.

For the week ahead

Tron’s TRX would need to move through the $0.02705 pivot to support a run at the first major resistance level at $0.03091.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.030 levels.

Barring a broad-based crypto rally the first major resistance level and last week’s high $0.03276 would likely cap any upside.

In the event of a breakout, Tron’s TRX could test the second major resistance level at $0.03662 before any pullback.

Failure to move through the $0.02705 pivot would bring the first major support level at $0.02134 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should avoid sub-$0.020 support levels. The second major support level sits at $0.01748.

At the time of writing, Tron’s TRX was down by 1.64% to $0.02479. A mixed start to the week saw Tron’s TRX rise to an early Sunday morning high $0.025383 before falling to a low $0.024563.

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

TRX/USD 23/08/20 Daily Chart

The Crypto Daily – Movers and Shakers – August 20th, 2020

bitcoin with us dollars and calculator

Bitcoin, BTC to USD, fell by 1.65% on Wednesday. Following on from a 2.79% slide on Tuesday, Bitcoin ended the day at $11,757.0.

It was a mixed start to the day. Bitcoin rose to an early morning intraday high $12,022.5 before hitting reverse.

Falling short of the first major resistance level at $12,300.5, Bitcoin tumbled to a late intraday low $11,565.5.

Bitcoin fell through the first major support level at $11,710.0 before wrapping up the day at $11,750 levels.

The near-term bullish trend remained intact, supported by the latest move through to $12,000 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 also another bearish day for the majors on Wednesday.

EOS (-6.31%) and Tron’s TRX (-7.76%) led the way down.

Bitcoin Cash ABC (-4.17), Bitcoin Cash SV (-4.36%), Cardano’s ADA (-5.30%), Litecoin (-5.13%), Stellar’s Lumen (-5.66%), and Ripple’s XRP (-4.29%), and Tezos (-5.29%) also saw heavy losses.

Binance Coin (-2.65%), Ethereum (-3.49%), and Monero’s XMR (-2.45%) saw relatively modest losses on the day.

In the current week, the crypto total market rose to a Monday high $384.00bn before sliding to a Wednesday low $344.69bn. At the time of writing, the total market cap stood at $355.40bn.

Bitcoin’s dominance fell to a Monday low 59.97% before rising to a Wednesday high 62.00%. At the time of writing, Bitcoin’s dominance stood at 61.27%.

This Morning

At the time of writing, Bitcoin was up by 0.32% to $11,794.5. A bullish start to the day saw Bitcoin rise from an early morning low $11,757.0 to a high $11,831.0.

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

Elsewhere, it was also a bullish start to the day.

At the time of writing, Tron’s TRX was up by 2.98% to lead the way.

BTC/USD 20/08/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall back through the pivot level at $11,782 to support a run at the first major resistance level at $11,998.

Support from the broader market would be needed, however, for Bitcoin to break back through to $11,900 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $12,022.5 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $12,239 before any pullback.

Failure to avoid a fall through the $11,782 pivot level would bring the first major support level at $11,541 into play.

Barring another extended crypto sell-off, however, Bitcoin should avoid the second major support level at $11,325.

Binance Coin Mid-Week Analysis – Support Levels in Play – 19/08/20

bitcoin with us dollars and calculator

Binance Coin Price Support

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

Binance Coin rose by 1.88% on Sunday to strike a Monday current week high $24.70 before hitting reverse.

Binance Coin came up against the first major resistance level at $24.60 before sliding to a Monday low $22.03.

Despite the pullback, Binance Coin steered clear of the first major support level at $21.04 and 38.2% FIB of $19.40.

For the current week, Sunday through Tuesday, Binance Coin was down by 0.43% to $23.01. Two days in the red reversed a 1.88% gain from Sunday.

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

It had been a particularly bullish start to the year before the reversal. Having been up by as much as 101% year-to-date, Binance Coin was up by 68.57% 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 2.84% to $22.36. A bearish start to the day on Wednesday saw Binance Coin fall from an early morning high $23.31 to a current week low $21.93.

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

BNB/USD 19/08/20 Daily Chart

For the remainder of the week

Binance Coin would need to move back through the $22.53 pivot level to support another test of the first major resistance level at $24.60.

Support from the broader market would be needed, however, for Binance Coin to break back through to $24 levels.

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

In the event of another recovery, Binance Coin could test resistance at $26 before any pullback. Binance Coin would likely fall well short of the 62% FIB of $27.3, however.

Failure to move through the $22.53 pivot level would bring the first major support level at $21.04 into play.

Barring an extended crypto sell-off, however, Binance Coin should avoid sub-$20 levels and the 38.2% FIB of $19.4.

Looking at the Technical Indicators

Major Support Level: $21.04

Major Resistance Level: $24.60

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 – August 18th, 2020

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

Bitcoin, BTC to USD, rallied by 3.18% on Monday. Following on from a 0.50% gain on Sunday, Bitcoin ended the day at $12,297.0.

It was a bearish start to the day. Bitcoin fell to an early afternoon intraday low $11,716 before making a move.

The pullback saw Bitcoin fall through the first major support level at $11,759 before striking an intraday high $12,485.5.

Bitcoin broke through the day’s major resistance levels before easing back to sub-$12,300 levels.

Bitcoin fell back through the third major resistance level at $12,347.83 to wrap up the day at sub-$12,300 levels. The third major resistance level had capped the upside late in the day.

The near-term bullish trend remained intact, supported by the latest move through to $12,000 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 for the majors on Monday.

Binance Coin (-0.08%), EOS (-2.60%), Ethereum (-0.51%), Stellar’s Lumen (-1.37%), and Tezos (-4.71%) bucked the trend with losses on the day.

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

Tron’s TRX led the way, rallying by 8.00%.

Bitcoin Cash ABC (+4.12%), Litecoin (+5.25%), Monero’s XMR (+2.39%), and Ripple’s XRP (+3.51%) also saw solid gains.

Bitcoin Cash SV (+0.34%) and Cardano’s ADA (+1.17%).

At the start of the week, the crypto total market fell to an early Monday low $354.91bn before rising to a high $384.01bn. At the time of writing, the total market cap stood at $373.83bn.

Bitcoin’s dominance fell to a Monday low 59.97% before rising to a high 61.24%. At the time of writing, Bitcoin’s dominance stood at 60.95%.

This Morning

At the time of writing, Bitcoin was up by 0.33% to $12,337.0. A bullish start to the day saw Bitcoin rise from an early morning low $12,297.0 to a high $12,353.0.

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

Elsewhere, it was also a bullish start to the day.

At the time of writing, Tron’s TRX was up by 2.70% to lead the pack.

BTC/USD 18/08/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $12,166 to support a run at the first major resistance level at $12,616.

Support from the broader market would be needed, however, for Bitcoin to break out from Monday’s high $12,485.5.

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

In the event of a crypto breakout, Bitcoin could eye the second major resistance level at $12,935.67 and resistance at $13,000.

Failure to avoid a fall through the $12,166 pivot level would bring the first major support level at $11,847 into play.

Barring another extended crypto sell-off, however, Bitcoin should avoid sub-$11,700 support levels. The second major support level sits at $11,397.

 

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 16/08/20

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Binance Coin

Binance Coin rose by 0.79% in the week ending 15th August. Following on from a 6.06% gain from the previous week, Binance Coin ended the week at $23.10.

A bearish start to the week saw Binance Coin slide to a Wednesday intraweek low $20.47 before finding support.

Steering clear of the first major support level at $19.68, Binance coin rallied to a Saturday intraweek high $24.03.

Falling short of the first major resistance level at $25.36, Binance Coin fell back to end the week at sub-$24 levels.

5 days in the green that included a 6.13% rally on Friday delivered the upside. A 5.94% slide on Tuesday, limited gains for the week, however.

For the week ahead

Binance Coin would need to avoid a fall through the $22.53 pivot to bring the first major resistance level at $24.60 into play.

Support from the broader market would be needed for Binance Coin to break out from last week’s high $24.03.

Barring a broad-based crypto rally, the first major resistance level and resistance at $25 would likely limit any upside.

In the event of a breakout, Binance Coin could take a run at the second major resistance level at $26.09 before any pullback.

Failure to avoid a fall through the $22.53 pivot would bring the first major support level at $21.04 into play.

Barring a crypto sell-off, Binance Coin should avoid sub-$19 levels. The 38.2% FIB of $19.4 should limit any downside.

At the time of writing, Binance Coin was down by 0.15% to $23.06. A mixed start to the week on Sunday saw Binance Coin fall to an early morning low $22.71 before rising to a high $23.17.

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

BNB/USD 16/08/20 Daily Chart

Litecoin

Litecoin rose by 2.46% in the week ending 15th August. Partially reversing a 5.28% slide from the previous week, Litecoin ended the week at $59.90.

It was a choppy start to the week. Litecoin rose to a Tuesday $59.70 before hitting reverse.

Falling short of the first major resistance level at $60.86, Litecoin slid to a Wednesday intraweek low $51.61.

Litecoin fell through the 23.6% FIB of $54.00 and the first major support level at $52.34 before finding support.

Through the second half of the week, Litecoin rallied to a Saturday intraweek high $60.89 before easing back.

Falling short of the first major resistance level at $64.95, Litecoin eased back to wrap up the week at sub-$60 levels.

4 days in the green that included a 4.82% rally on Thursday and a 5.46% rally on Saturday delivered the upside. A 7.14% slide on Tuesday capped the gains for the week, however.

For the week ahead

Litecoin would need to avoid a fall through the $57.47 pivot to support a run at the first major resistance level at $63.32.

Support from the broader market would be needed, however, for Litecoin to break out from last week’s high $60.89.

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

Failure to avoid a fall through the $57.47 pivot would bring the 23.6% FIB and the first major support level at $54.04 into play.

Barring an extended crypto sell-off, however, Litecoin should continue to steer clear of sub-$50 levels. The second major support level sits at $48.19.

At the time of writing, Litecoin was down by 0.90% to $59.36. A mixed start to the week saw Litecoin rise to an early morning high $60.08 before falling to a low $58.92.

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

LTC/USD 16/08/20 Daily Chart

Tron’s TRX

Tron’s TRX rallied by 23.21% in the week ending 15th August. Following a 0.20% decline from the previous week, Tron’s TRX ended the week at $0.025245.

It was a choppy start to the week. Tron’s TRX rose to a Monday high $0.022348 before hitting reverse.

Tron’s TRX broke through the first major resistance level at $0.02186 before sliding to a Wednesday intraweek low $0.018955.

Steering clear of the first support level at $0.01842, Tron’s TRX rallied to a Saturday intraweek high $0.026132.

Tron’s TRX broke back through the first major resistance level at $0.02186 and the second major resistance level at $0.02327.

Falling short of the third major resistance level at $0.02670, Tron’s TRX eased back to wrap up the week at $0.025 levels.

5 days in the green that included an 11.29% rally on Thursday and 10.34% breakout on Friday delivered the upside for the week.

For the week ahead

Tron’s TRX would need to avoid a fall through the $0.02305 pivot to support a run at the first major resistance level at $0.02714.

Support from the broader market would be needed, however, for Tron’s TRX to break out from last week’s high $0.026132.

Barring another broad-based crypto rally the first major resistance level would likely cap any upside.

In the event of a breakout, Tron’s TRX could test 23.6% FIB of $0.0291 and the second major resistance level at $0.03022 before any pullback.

Failure to avoid a fall through the $0.02305 pivot would bring the first major support level at $0.01996 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should avoid sub-$0.018 support levels. The second major support level sits at $0.01587.

At the time of writing, Tron’s TRX was down by 1.66% to $0.024825. A mixed start to the week saw Tron’s TRX rise to an early morning high $0.025407 before falling to a low $0.024624.

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

TRX/USD 16/08/20 Daily Chart

The Crypto Daily – Movers and Shakers – August 13th, 2020

Depositphotos_193678068_s-2019

Bitcoin, BTC to USD, rose by 1.59% on Wednesday. Partially reversing a 4.32% slide from Tuesday, Bitcoin ended the day at $11,569.5.

It was a bearish start to the day. Bitcoin slid to an early morning intraday low $11,155 before making a move.

Steering clear of the first major support level at $11,026, Bitcoin rallied to a late intraday high $11,628.0.

Falling short of the first major resistance level at $11,847, Bitcoin fell back to sub-$11,500 levels before finding late support.

Resistance at $11,600 pinned Bitcoin back, however.

The near-term bullish trend remained intact, supported by the latest move through to $11,000 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 for the majors on Wednesday.

Bitcoin Cash SV (-1.24%) and Ripple’s XRP (-0.21%) bucked the trend.

It was a bullish day for the rest of the pack.

Tezos rallied by 8.87% to lead the way.

Binance Coin (+1.03%), Bitcoin Cash ABC (+1.32%), Ethereum (+2.20%), Monero’s XRM (+2.85%), Stellar’s Lumen (+1.32%) and also found strong support.

Cardano’s ADA (+0.05%), EOS (+0.69%), Litecoin (+0.83%), and Tron’s TRX (+0.42%) saw relatively modest gains on the day.

In the current week, the crypto total market cap rose to a Monday high $361.38bn before falling to a Tuesday low $328.26bn. At the time of writing, the total market cap stood at $347.81bn.

Bitcoin’s dominance rose to a Monday high 62.63% before sliding to a Wednesday low 61.54%. At the time of writing, Bitcoin’s dominance stood at 61.81%.

 

This Morning

At the time of writing, Bitcoin was up by 0.59% to $11,637.5. A mixed start to the day saw Bitcoin fall to an early morning low $11,551.0 before rising to a high $11,655.5.

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

Elsewhere, it was a mixed start to the day.

Binance Coin and Tezos were down by 0.22% and by 0.60% to buck the trend early on.

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

At the time of writing, Ethereum and Ripple’s XRP were up by 1.30% and by 1.06% to lead the way.

BTC/USD 13/08/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $11,451 pivot to support a run at the first major resistance level at $11,747.

Support from the broader market would be needed, however, for Bitcoin to break back through to $11,700 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $11,800 should cap any upside.

In the event of a crypto breakout, Bitcoin could eye the second major resistance level at $11,924 before any pullback.

A fall through the $11,451 pivot level would bring the first major support level at $11,274 into play.

Barring another extended crypto sell-off, however, Bitcoin should continue to avoid sub-$11,000 levels. The second major support level sits at $10,978.