Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 29/11/20

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

Binance Coin

Binance Coin fell by 4.42% in the week ending 28th November. Partially reversing a 9.11% rally from the week prior, Binance Coin ended the week at $29.20.

Recovering from a bearish start to the week, Binance Coin surged to a Tuesday high and new swing hi $36.83 before hitting reverse.

Binance Coin broke through the first major resistance level at $32.33 and the second major resistance level at $34.12.

The reversal saw Binance Coin fall through the 23.6% FIB of $27.5 and the first major support level at $27.50 to a Thursday intraweek low $26.11.

Finding support late in the week, however, Binance Coin broke back through the 23.6% FIB to end the week at $29 levels.

3 days in the red that included a 7.78% slide on Wednesday and a 9.74% tumble on Thursday delivered the downside. A 9.38% rally on Tuesday limited the losses, however.

For the week ahead

Binance Coin would need to move through the 23.6% FIB of $29.65 and the $30.71 pivot to bring the first major resistance level at $35.32 into play.

Support from the broader market would be needed for Binance Coin to break back through to $35 levels.

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

In the event of another crypto rally, could test resistance at $40 before any pullback. The second major resistance level sits at $41.43.

Failure to move through the $30.71 pivot would bring the first major support level at $24.60 into play.

Barring a crypto sell-off, Binance Coin should steer well clear of sub-$20 levels. The second major support level at sits $19.99.

At the time of writing, Binance Coin was up by 0.67% to $29.40. A mixed start to the week saw Binance Coin fall to an early Sunday morning low $28.74 before rising to a high $29.79.

While leaving the major support and resistance levels untested, Binance Coin tested resistance at the 23.6% FIB of $29.65.

BNBUSD 291120 Daily Chart

Litecoin

Litecoin slid by 16.55% in the week ending 28th November. Partially reversing the previous week’s 36.38% surge, Litecoin ended the week at $72.79.

It was a bearish start to the week. Litecoin fell to a Sunday low $78.00 before making a move.

Steering clear of the first major support level at $69.29, Litecoin rallied to a Tuesday intraweek high $94.05.

Falling short of the first major resistance level at $96.77, however, Litecoin tumbled to a Thursday intraweek low $64.30.

Litecoin fell through the 38.2% FIB of $71 and the first major support level at $69.29.

Finding support at the end of the week, however, Litecoin moved back through to $72 levels to limit the loss. A Saturday rally saw Litecoin break back through the first major support level and the 38.2% FIB.

3 days in the red which included an 8.50% slide on Wednesday and a 13.02% tumble on Thursday did the damage. A 7.5% rally on Monday and a 5.13% gain on Saturday cut some of the losses, however.

For the week ahead

Litecoin would need to move through the $77.05 pivot to support a run at the first major resistance level at $89.79.

Support from the broader market would be needed, however, for Litecoin to break back through to $80 levels.

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

In the event of a breakout, the 62% FIB of $100 would likely come into play. The second major resistance level sits at $106.80.

Failure to move through the $77.05 pivot would bring the 38.2% FIB of $71 and the first major support level at $60.04 into play.

Barring an extended crypto sell-off, however, Litecoin should steer well clear of sub-$50 levels and the second major support level at $47.30. The 23.6% FIB of $54 should limit any downside.

At the time of writing, Litecoin was down by 0.99% to 72.07. A mixed start to the week saw Litecoin rise to an early Sunday morning high $73.09 before falling to a low $71.64.

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

LTCUSD 291120 Daily Chart

Tron’s TRX

Tron’s TRX slipped by 0.01% in the week ending 28th November. Following the previous week’s 21.56% breakout, Tron’s TRX ended the week at $0.03052.

It was a mixed start to the week. Tron’s TRX fell to a Sunday low $0.02675 before making a move.

Steering clear of the first major support level at $0.02588, Tron’s TRX rallied to a Tuesday intraweek high $0.04161.

Tron’s TRX broke through the first major resistance level at $0.03314 and the second major resistance level at $0.04302.

More significantly, Tron’s TRX also broke through the 23.6% FIB of $0.0291 and the 38.2% FIB of $0.0428 before hitting reverse.

The reversal saw Tron’s TRX slide through the 23.6% FIB and the 38.2% FIB to a Thursday intraweek low $0.02595.

Steering clear of the first major support level at $0.02588, however, Tron’s TRX recovered to $0.0305 levels to end the week flat. The recovery saw Tron’s TRX break back through the 23.6% FIB of $0.0291.

3 days in the green that included a 10.59% rally on Monday and a 10.86% breakout on Tuesday limited the losses. A 5.78% fall on Sunday, a 6.49% slide on Wednesday, and an 11% tumble on Thursday pinned Tron’s TRX back, however.

For the week ahead

Tron’s TRX would need to move through the $0.03269 pivot to support a run at the first major resistance level at $0.03944

Support from the broader market would be needed, however, for Tron’s TRX to break back through $0.032 levels.

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

In the event of an extended rally, the 38.2% FIB of $0.0428 and the second major resistance level at $0.04835 would likely come into play.

Failure to move through the $0.03269 pivot would bring the 23.6% FIB of $0.0291 and the first major support level at $0.02378 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer well clear of the second major support level at $0.01703.

At the time of writing, Tron’s TRX was down by 1.30% to $0.03012. A mixed start to the week saw Tron’s TRX rise to an early Sunday morning high $0.03075 before falling to a low $0.02982.

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

TRXUSD 291120 Daily Chart

The Crypto Daily – Movers and Shakers – November 26th, 2020

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Bitcoin, BTC to USD, slid by 2.12% on Wednesday. Partially reversing a 4.18% rally from Tuesday, Bitcoin ended the day at $18,727.0.

A bearish start to the day saw Bitcoin fall to a mid-morning low $18,629.0 before making a move.

Steering clear of the first major support level at $18,374, Bitcoin rallied to an early afternoon intraday high and a new swing hi $19,497.0.

Falling short of the first major resistance level at $19,644, Bitcoin slid to a late intraday low $18,500.0.

Continuing to steer clear of the major support levels, Bitcoin moved back through to $18,700 levels to reduce the loss on the day.

The near-term bullish trend remained intact, supported by the latest move through to $19,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $9,920 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.

Chainlink (-9.03%), Litecoin (-8.51%), and Ripple’s XRP (-9.08%) led the way down.

Binance Coin (-7.78%), Bitcoin Cash SV (-7.28%), Cardano’s ADA (-7.28%), Ethereum (-6.06%), and Polkadot (-5.50%) also saw heavy losses on the day.

Crypto.com Coin saw a relatively modest 1.35% loss on the day.

In the current week, the crypto total market cap fell to a Monday low $515.94bn before rising to a Tuesday high $593.15bn. At the time of writing, the total market cap stood at $553.36bn.

Bitcoin’s dominance rose to a Monday high 64.75% before sliding to a Tuesday low of 60.81%. At the time of writing, Bitcoin’s dominance stood at 63.19%.

This Morning

At the time of writing, Bitcoin was up by 0.45% to $18,810.0. A mixed start to the day saw Bitcoin fall to an early morning low $18,625.0 before rising to a high $18,908.0.

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

Elsewhere, it was a mixed start to the day.

Chainlink (-0.22%), Crypto.com Coin (-2.12%), and Polkadot (-0.27%) were in the red to buck the trend early on.

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

At the time of writing, Ripple’s XRP was up by 1.82% to lead the way.

BTCUSD 261120 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the pivot level at $18,908 to bring the first major resistance level at $19,316 into play.

Support from the broader market would be needed for Bitcoin to break back through to $19,000 levels.

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

In the event of another crypto breakout, Bitcoin could test the second major resistance level at $19,905.

Failure to move through the $18,908 pivot would bring the first major support level at $18,319 into play.

Barring another extended crypto sell-off, Bitcoin should steer clear of sub-$18,000 levels. The second major support level sits at $17,911.

Binance Coin Mid-Week Analysis – Resistance Levels in Play – 25/11/20

Binance is a finance exchange market. Crypto Currency background concept.

Binance Coin Price Resistance

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

A bearish start to the week, however, saw Binance Coin fall to a Sunday current week low $28.35 before making a move.

Steering clear of the first major support level at $27.5 and the 23.6% FIB of $27.5, Binance Coin rallied to a Tuesday current week high $36.83.

Binance Coin broke through the first major resistance level at $32.33 and the second major resistance level at $34.12.

A pullback from Tuesday morning’s high saw Binance Coin fall back through the major resistance levels before wrapping up the day at $33 levels.

For the current week, Sunday through Tuesday, Binance Coin was up by 11.1% to $33.95.

2 days in the green out of 3 that included a 9.38% rally on Tuesday delivered the upside.

The near-term bullish trend remained intact, supported by the latest rebound. For the bears, a fall through the 62% FIB of $17 would form a near-term bearish trend.

It has been a particularly bullish year in spite of a mid-year blip. Year-to-date, Binance Coin was up by 148.7%.

At the time of writing, Binance Coin was down by 2.60% to $33.06. A mixed start to the day saw Binance Coin rise to an early Wednesday morning high $35.52 before falling to a low $33.06.

Binance Coin broke back through the second major resistance level at $34.12 before easing back in the early part of Wednesday morning.

BNBUSD 251120 Daily Chart

For the remainder of the week

Binance Coin would need to avoid a fall back through the first major resistance level to support another run at the second major resistance level at $34.12.

Support from the broader market would be needed, however, for Binance Coin to break back through to $34 levels.

Barring an extended crypto rally, the second major resistance level and resistance at $35 would likely cap any upside.

In the event of an extended breakout, however, the third major resistance level at $38.95 would likely cap any upside.

Failure to avoid a fall back through the first major resistance level at $32.33 would bring sub-$30 levels into play.

Barring an extended sell-off going into the weekend, however, Binance Coin should avoid the pivot level at $29.29. The first major support level sits at $27.50, along with the 23.6% FIB.

Looking at the Technical Indicators

Major Support Level: $27.50

Major Resistance Level: $32.33

23.6% FIB Retracement Level: $27.5

38.2% FIB Retracement Level: $23.5

62% FIB Retracement Level: $17.00

 

The Crypto Daily – Movers and Shakers – November 24th, 2020

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

Bitcoin, BTC to USD, slipped by 0.10% on Monday. Following a 1.44% fall from Sunday, Bitcoin ended the day at $18,372.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $18,003.0 before making a move.

Steering clear of the first major support level at $17,781, Bitcoin rose to a late morning intraday high $18,724.0.

Coming up short of the first major resistance level at $18,868, Bitcoin fell back to sub-$18,200 levels.

Finding support late in the day, however, Bitcoin briefly revisited $18,400 levels before easing back into the red.

The near-term bullish trend remained intact, supported by the latest move through to $18,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $9,709 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.

Ripple’s XRP surged by 38.30% to lead the way.

Bitcoin Cash SV (+9.99%), Cardano’s ADA (+5.89%), Chainlink (+5.24%), Ethereum (+8.65%), Litecoin (+7.51%), and Polkadot (+7.21%) also found strong support.

Binance Coin (+3.24%) and Crypto.com Coin (+0.56%) trailed the front runners.

At the start of the week, the crypto total market cap fell to a Monday low $515.94bn before rising to a Monday high $558.46bn. At the time of writing, the total market cap stood at $544.31bn.

Bitcoin’s dominance rose to a Monday high 64.73% before sliding to a Monday low of 62.41%. At the time of writing, Bitcoin’s dominance stood at 62.29%.

This Morning

At the time of writing, Bitcoin was down by 0.54% to $18,273.0. A bearish start to the day saw Bitcoin fall from an early morning high $18,364.0 to a low $18,231.0.

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

Elsewhere, it was a mixed start to the day.

Ethereum (-0.77%), Litecoin (-1.59%), Polkadot (-0.27%), and Ripple’s XRP (-2.29%) joined Bitcoin in the red early on.

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

At the time of writing, Cardano’s ADA was up by 5.94% to lead the pack.

BTCUSD 241120 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the pivot level at $18,366 to bring the first major resistance level at $18,730 into play.

Support from the broader market would be needed for Bitcoin to break out from $18,500 levels.

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

In the event of another crypto breakout, Bitcoin could test resistance at $19,000 before any pullback. The second major resistance level sits at $19,087.

Failure to move through the $18,366 pivot would bring the first major support level at $18,009 into play.

Barring another extended crypto sell-off, Bitcoin should steer clear of sub-$18,000 levels. The second major support level sits at $17,645.

 

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 22/11/20

crypto currency mining concept

Binance Coin

Binance Coin rallied by 9.11% in the week ending 21st November. Following on from a 0.61% gain from the week prior, Binance Coin ended the week at $30.53.

Recovering from a bearish start to the week, Binance Coin rose to a Tuesday high $30.81 before hitting reverse.

Binance Coin broke through the first major resistance level at $29.70 before sliding to a Wednesday intraweek low $26.26.

The reversal saw Binance Coin fall through the 23.6% FIB of $27 to test support at the first major support level at $26.18.

Finding support late in the week, however, Binance Coin surged to a Saturday intraweek high $31.09. The rally saw Binance Coin break back through the 23.6% FIB and the first major resistance level to wrap up the day at $30 levels.

5 days in the green that included a 3.04% rise on Friday and a 5.23% rally on Saturday delivered the upside.

For the week ahead

Binance Coin would need to avoid a fall through the $29.29 pivot to bring the first major resistance level at $32.33 into play.

Support from the broader market would be needed for Binance Coin to break out from Sunday morning’s high $31.26.

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

In the event of another crypto rally, could test the second major resistance level at $34.12 and resistance at $35.

Failure to avoid a fall through the $29.29 pivot would bring the 23.6% FIB of $27.50 and the first major support level at $27.50 into play.

Barring a crypto sell-off, Binance Coin should steer well clear of the second major support level at $24.46.

At the time of writing, Binance Coin was down by 1.75% to $29.995. A mixed start to the week saw Binance Coin strike an early Sunday morning high $31.26 before falling to a low $29.83

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

BNBUSD 221120 Daily Chart

Litecoin

Litecoin surged by 36.38% in the week ending 21st November. Following on from an 8.28% rally from the previous week, Litecoin ended the week at $87.13.

It was a bearish start to the week. Litecoin fell to a Sunday intraweek low $61.08 before making a move.

Steering clear of the first major support level at $58.43, Litecoin rallied to a Saturday intraweek high $88.56.

Litecoin broke through the week’s major resistance levels and the 38.2% FIB of $71 to wrap up the week at $87 levels.

The third major resistance level at $81.62 delivered support in the early part of Saturday.

5 days in the green which included an 18.27% surge on Monday and an 11.11% rally on Thursday delivered the upside.

For the week ahead

Litecoin would need to avoid a fall through the $78.92 pivot to support a run at the first major resistance level at $96.77 and the 62% FIB of $100 into play.

Support from the broader market would be needed, however, for Litecoin to break out from last week’s high $88.56.

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

In the event of another breakout, the second major resistance level at $106.40 would likely come into play.

Failure to avoid a fall through the $78.92 pivot would bring the 38.2% FIB of $71 and the first major support level at $69.29 into play.

Barring an extended crypto sell-off, however, Litecoin should steer well clear of sub-$60 levels. The second major support level sits at $51.44.

At the time of writing, Litecoin was down by 3.17% to $84.37. A mixed start to the week saw Litecoin rise to an early Sunday morning high $88.00 before falling to a low $83.65.

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

LTCUSD 221120 Daily Chart

Tron’s TRX

Tron’s TRX jumped by 21.56% in the week ending 21st November. Following a 1.33% gain from the previous week, Tron’s TRX ended the week at $0.03052.

A bullish start to the week saw Tron’s TRX rise to a Tuesday high $0.02841 before hitting reverse.

Tron’s TRX broke through the first major resistance level at $0.02664 and the second major resistance level at $0.02819.

Coming up short of $0.029 levels, Tron’s TRX slid to a Wednesday intraweek low $0.023858 before finding support.

Steering clear of the first major support level at $0.02354, Tron’s TRX surged to a Saturday intraweek high $0.03112.

Tron’s TRX broke through the first major resistance level at $0.02664 and the second major resistance level at $0.02819.

More significantly, Tron’s TRX also broke through the 23.6% FIB of $0.0291. Coming up against the third major resistance level at $0.03129, however, Tron’s TRX slipped back to end the week at $0.030 levels.

5 days in the green that included a 3.64% rally on Tuesday and a 15.83% surge on Saturday delivered the upside for the week.

For the week ahead

Tron’s TRX would need to avoid a fall back through the $0.02850 pivot to support a run at the first major resistance level at $0.03314.

Support from the broader market would be needed, however, for Tron’s TRX to break through the 23.6% FIB of $0.0291 and break out from last week’s high $0.3112.

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 an extended rally, the second major resistance level at $0.03576 and resistance at $0.040 would likely come into play.

Failure to avoid a fall back through the $0.02850 pivot would bring the first major support level at $0.02588 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer well clear of the second major support level at $0.02124.

At the time of writing, Tron’s TRX was down by 5.45% to $0.02886. A mixed start to the week saw Tron’s TRX rise to an early Sunday morning high $0.03097 before sliding to a low $0.02808.

Tron’s TRX left the major support and resistance levels untested at the start of the week. The early pullback saw Tron’s TRX fall through the 23.6% FIB of $0.0291, however.

TRXUSD 221120 Daily Chart

The Crypto Daily – Movers and Shakers – November 19th, 2020

Binance is a finance exchange market. Crypto Currency background concept.

Bitcoin, BTC to USD, rose by 0.56% on Wednesday. Following on from a 5.72% rally on Tuesday, Bitcoin ended the day at $17,774.0.

It was a bullish start to the day. Bitcoin rallied to an early morning intraday high and new swing hi $18,450.0.

The rally saw Bitcoin break through the first major resistance level at $18,148 before hitting reverse.

Coming up against resistance at $18,500, Bitcoin slid to a mid-morning intraday low $17,119.0.

Steering clear of the first major support level at $16,868, Bitcoin revisited $18,200 levels before a 2nd sell-off.

Bitcoin broke back through the first major resistance level at $18,148 before sliding back to $17,300 levels.

Finding late support, however, Bitcoin moved back through to $17,700 levels to deliver the upside on the day.

The near-term bullish trend remained intact, supported by the latest move through to $18,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $9,520 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.

Chainlink rose by 1.40% to buck the trend and join Bitcoin in the green for the day.

Bitcoin Cash SV (-3.19%), Cardano’s ADA (-2.81%), Litecoin (-3.78%), Polkadot (-4.14%), and Ripple’s XRP (-3.01%) led the way down.

Binance Coin (-1.71%), Crypto.com Coin (-1.53%), and Ethereum (-0.79%) saw relatively modest losses on the day.

In the current week, the crypto total market cap rose from a Monday low $445.47bn to a Wednesday high $515.33bn. At the time of writing, the total market cap stood at $489.77bn.

Bitcoin’s dominance fell to a Monday low 65.43% before rising to a Wednesday high 67.40%. At the time of writing, Bitcoin’s dominance stood at 67.06%.

This Morning

At the time of writing, Bitcoin was down by 0.56% to $17,674.0. A mixed start to the day saw Bitcoin rise to an early morning high $17,803.0 before falling to a low $17,575.0

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

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV (+0.33%), Crypto.com Coin (+1.56%), Litecoin (+1.46%), and Polkadot (+0.85%) found early support.

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

At the time of writing, Chainlink was down by 1.85% to lead the way down.

BTCUSD 191120 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through the pivot level at $17,781 to bring the first major resistance level at $18,443 into play.

Support from the broader market would be needed for Bitcoin to break back through to $18,000 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $18,450.0 would likely cap any upside.

In the event of another crypto breakout, Bitcoin could test resistance at $19,000 before any pullback. The second major resistance level sits at $19,112.

Failure to move back through the $17,781 pivot would bring the first major support level at $17,112 into play.

Barring another extended crypto sell-off, Bitcoin should steer well clear of sub-$17,000 levels. The second major support level sits at $16,450.

Binance Coin Mid-Week Analysis – Resistance Levels in Play – 18/11/20

Closeup hand holding bitcoin over the Cryptocurrency trading scr

Binance Coin Price Resistance

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

A bearish start to the week saw Binance Coin fall to a Monday current week low $26.41 before making a move.

While steering clear of the first major support level at $26.18, Binance Coin fell through the 23.6% FIB of $27.5.

Finding support at sub-$27 levels, Binance Coin rose to a Tuesday current week high $30.81.

Binance Coin broke through the first major resistance level at $29.70 before falling back to sub-$29 levels.

Of greater significance, Binance Coin also broke back through the 23.6% FIB of $27.50.

For the current week, Sunday through Tuesday, Binance Coin was up by 2.22% to $28.60.

2 days in the green out of 3 that included a 2.20% gain on Tuesday delivered the upside. A 0.89% fall on Sunday limited the upside, however.

The near-term bullish trend remained intact, supported by the latest rebound. For the bears, a fall through the 62% FIB of $17 would form a near-term bearish trend.

It has been a particularly bullish year in spite of a mid-year blip. Year-to-date, Binance Coin was up by 109.5%.

At the time of writing, Binance Coin was up by 0.12% to $28.63. A mixed start to the day saw Binance Coin rise to an early Wednesday morning high $29.00 before falling to a low $28.40.

Binance Coin left the major support and resistance levels untested in the early part of Wednesday morning.

BNBUSD 181120 Daily Chart

For the remainder of the week

Binance Coin would need to avoid a fall back through the $27.9 pivot level and the 23.6% FIB to support another run at the first major resistance level at $29.70.

Support from the broader market would be needed, however, for Binance Coin to break back through to $29.5 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $30 would likely cap any upside.

In the event of an extended breakout, however, the second major resistance level at 31.43 would likely cap any upside.

Failure to avoid a fall back through the 23.6% FIB and the $27.91 pivot level would bring the first major support level at $26.18 back into play.

Barring an extended sell-off going into the weekend, however, Binance Coin should avoid sub-$25 levels. The second major support level sits at $24.39.

Looking at the Technical Indicators

Major Support Level: $26.18

Major Resistance Level: $29.70

23.6% FIB Retracement Level: $27.5

38.2% FIB Retracement Level: $23.5

62% FIB Retracement Level: $17.00

The Crypto Daily – Movers and Shakers – November 17th, 2020

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

Bitcoin, BTC to USD, rallied by 4.72% on Monday. Reversing a 0.58% decline from Sunday, Bitcoin ended the day at $16,719.0.

It was a mixed start to the day. Bitcoin slipped to an early morning intraday low $15,874.0 before making a move.

Steering clear of the first major support level at $15,789, Bitcoin rallied to a late intraday high and new swing hi $16,872.0.

Bitcoin broke through the day’s major resistance levels before easing back to sub-$16,700 levels.

Finding support at the third major resistance level at $16,684, however, Bitcoin closed out the day at $16,700 levels.

The near-term bullish trend remained intact, supported by the latest move through to $16,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $8,768 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.

Crypto.com Coin (-2.28%) and Polkadot (-1.59%) bucked the trend on the day.

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

Litecoin surged by 18.45% to lead the way, with Ripple’s XRP rallying by 7.03% to come in a distant second.

Cardano’s ADA (+3.52%), Chainlink (+4.20%), and Ethereum (+2.73%) also made solid gains.

Binance Coin (+0.97%) and Bitcoin Cash SV (+1.78%) trailed the front runners, however.

At the start of the week, the crypto total market cap rose from a Monday low $449.02bn to a Monday high $474.46bn. At the time of writing, the total market cap stood at $473.15bn.

Bitcoin’s dominance fell to a Monday low 65.41% before rising to a Monday high 66.07%. At the time of writing, Bitcoin’s dominance stood at 65.92%.

This Morning

At the time of writing, Bitcoin was up by 0.45% to $16,794.0. A mixed start to the day saw Bitcoin fall to an early morning low $16,692.0 before rising to a high $16,824.0.

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, Chainlink was up by 2.01% to lead the pack.

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $16,488 to bring the first major resistance level at $17,103 into play.

Support from the broader market would be needed for Bitcoin to break through to $17,000 levels.

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 $17,486. Resistance at $17,500 would likely cap any upside to a breakout, however.

Failure to avoid a fall through the $16,488 pivot would bring the first major support level at $16,105 into play.

Barring another extended crypto sell-off, Bitcoin should steer well clear of sub-$16,000 levels. The second major support level sits at $15,490.

 

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 15/11/20

crypto currency mining concept

Binance Coin

Binance Coin rose by 0.61% in the week ending 14th November. Partially reversing a 2.59% fall from the week prior, Binance Coin ended the week at $27.96.

It was a choppy start to the week. Binance Coin rose to a Wednesday high $29.65 before hitting reverse.

Falling short of the first major resistance level at $31.32, Binance Coin fell to a Thursday intraweek low $26.13.

While steering clear of the first major support level at $24.56, Binance Coin fell back through the 23.6% FIB of $27.5.

Finding support on Friday, however, Binance Coin broke back through to $28 levels before a bearish end to the week.

On Saturday, Binance Coin fell back through the 38.2% FIB before wrapping up the week at $27.7 levels.

3 days in the green that included a 2.39% gain on Sunday and a 1.88% rise on Friday delivered the upside.

For the week ahead

Binance Coin would need to avoid a fall back through the $27.91 pivot to bring the first major resistance level at $29.70 into play.

Support from the broader market would be needed for Binance Coin to break back through to $29 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $30 would likely limit any upside in the week.

In the event of another crypto rally, could test the second major resistance level at $31.43.

Failure to avoid a fall back through the $27.91 pivot would bring the 23.6% FIB of $27.50 and the first major support level at $26.18 into play.

Barring a crypto sell-off, Binance Coin should steer well clear of the second major support level at $24.39.

At the time of writing, Binance Coin was up by 0.01% to $27.97. A mixed start to the week saw Binance Coin rise to an early Sunday morning high $28.54 before falling to a low $27.63.

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

BNB/USD 15/11/20 Daily Chart

Litecoin

Litecoin rallied by 8.28% in the week ending 14th November. Following on from a 5.67% gain from the previous week, Litecoin ended the week at $63.85.

It was a bearish start to the week. Litecoin fell to a Tuesday intraweek low $57.12 before making a move.

Steering clear of the first major support level at $51.84, Litecoin rallied to a Friday intraweek high $66.66.

Litecoin broke through the first major resistance level at $65.46 before easing back to wrap up the week at $63 levels.

4 days in the green which included an 8.68% surge on Friday delivered the upside. A 3.27% slide on Saturday pared some of the gains, however.

For the week ahead

Litecoin would need to avoid a fall through the $62.54 pivot to support a run at the first major resistance level at $68.00.

Support from the broader market would be needed, however, for Litecoin to break out from last week’s high $66.66.

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

In the event of a breakout, the 38.2% FIB of $71 and the second major resistance level at $72.08 would likely come into play. Litecoin would need to break out from $69 levels, however, which is a key resistance level on the trend analysis.

Failure to avoid a fall through the $62.54 pivot would bring the first major support level at $58.43 into play.

Barring an extended crypto sell-off, however, Litecoin should steer of the 23.6% FIB of $54.00. The second major support level sits at $53.00.

At the time of writing, Litecoin was down by 1.30% to $63.02. A mixed start to the week saw Litecoin rise to an early Sunday morning high $64.50 before falling to a low $62.78.

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

LTC/USD 15/11/20 Daily Chart

Tron’s TRX

Tron’s TRX rose by 1.33% in the week ending 14th November. Partially reversing a 3.39% loss from the previous week, Tron’s TRX ended the week at $0.025095.

A bullish start to the week saw Tron’s TRX rise to a Sunday intraweek high $0.02663 before hitting reverse.

Falling short of the first major resistance level at $0.02734, Tron’s TRX slid to a Thursday intraweek low $0.02353.

Steering clear of the first major support level at $0.02248, Tron’s TRX revisited $0.026 levels before easing back.

3 days in the green that included a 2.20% gain on Friday delivered the upside for the week. A 2.22% slide on Monday, however, reversed a 1.90% gain from Sunday.

For the week ahead

Tron’s TRX would need to avoid a fall back through the $0.02509 pivot to support a run at the first major resistance level at $0.02664.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.026 levels.

Barring a broad-based crypto rally, the first major resistance level and last week’s high $0.02663 would likely cap any upside.

In the event of an extended rally, the second major resistance level at $0.02819 would likely come into play.

Failure to avoid a fall back through the $0.02509 pivot would bring the first major support level at $0.02354 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer well clear of the second major support level at $0.02199.

At the time of writing, Tron’s TRX was down by 0.01% to $0.025091. A mixed start to the week saw Tron’s TRX rise to an early Sunday morning high $0.02547 before falling to a low $0.02487.

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

TRX/USD 15/11/20 Daily Chart

The Crypto Daily – Movers and Shakers – November 12th, 2020

bitcoin with us dollars and calculator

Bitcoin, BTC to USD, rallied by 2.60% on Wednesday. Reversing a 0.17% fall from Tuesday, Bitcoin ended the day at $15,709.3.

It was a bullish day. Bitcoin rallied from an early morning intraday low $15,292.0 to a late afternoon intraday high $15,981.0.

The rally saw Bitcoin break through the first major resistance level at $15,498 and the second major resistance level at $15,685.

Coming up against resistance at $16,000, Bitcoin eased back to wrap up the day at $15,700 levels. The pullback saw Bitcoin briefly fall back through the second major resistant level at $15,685.

The near-term bullish trend remained intact, supported by the latest move through to $15,000 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 Wednesday.

Binance Coin (-0.69%), Chainlink (-1.85%), and Polkadot (-1.80%) saw red to buck the trend.

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

Ethereum and Litecoin rallied by 2.86% and by 2.33% respectively to lead the way.

Bitcoin Cash ABC (+0.25%), Bitcoin Cash SV (+0.89%), Cardano’s ADA (+0.05%), Crypto.com Coin (+0.86%), and Ripple’s XRP (+0.71%) saw relatively modest gains.

For the current week, the crypto total market cap fell to a Monday low $421.37bn before rising to a Wednesday high $460.84bn. At the time of writing, the total market cap stood at $445.86bn.

Bitcoin’s dominance fell to a Tuesday low 64.22% before rising to an early Thursday high 65.20%. At the time of writing, Bitcoin’s dominance stood at 65.05%.

This Morning

At the time of writing, Bitcoin was down by 0.45% to $15,638.3. A mixed start to the day saw Bitcoin rise to an early morning high $15,734.0 before falling to a low $15,453.0.

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

Elsewhere, it was a mixed start to the day. Bitcoin Cash SV was up by 0.45% to buck the trend early on.

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

At the time of writing, Litecoin was down by 1.67% to lead the way.

BTC/USD 12/11/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through the pivot level at $15,661 to bring the first major resistance level at $16,030 into play.

Support from the broader market would be needed for Bitcoin to break out from Wednesday’s high $15,981.0.

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 $16,350 and resistance at $16,500.

Failure to move back through the $15,661 pivot would bring the first major support level at $15,341 into play.

Barring an extended crypto sell-off, Bitcoin should steer well clear of sub-$15,000 levels. The second major support level sits at $14,972.