Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 28/02/21

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

Binance Coin

Binance Coin fell by 11.21% in the week ending 27th February. Partially reversing a 90.12% surge from the previous week, Binance Coin ended the week at $225.31.

A bullish start to the week saw Binance Coin rise to a Sunday intraweek high $316.45 before hitting reverse.

While falling short of the first major resistance level at $376.19, Binance Coin broke through the 23.6% FIB of $283.

The reversal saw Binance Coin slide through the 23.6% FIB of $283 and the 38.2% FIB of $230 to a Tuesday intraweek low $184.36.

Steering well clear of the first major support level at $123.61, Binance Coin revisited $282 levels before easing back.

Breaking back through the 38.2% FIB, Binance Coin came up against the 23.6% FIB of $283 before a 2nd pullback.

The 2nd pullback saw Binance Coin fall back through 38.2% FIB of $230 to end the day at $225 levels.

4 days in the red that included a 9.35% fall on Monday and a 13.52% slide on Tuesday delivered the downside. A 16.34% rally on Sunday and a 10.03% gain on Wednesday limited the damage, however.

For the week ahead

Binance Coin would need to move through the $242 pivot to bring the 23.6% FIB of $283 and the first major resistance level at $300 into play.

Support from the broader market would be needed for Binance Coin to break back through to $300 levels.

Barring an extended crypto rally, the first major resistance level and last week’s high $316.45 would likely limit any upside in the week.

In the event of an extended crypto rally, could test the second major resistance level at $374 before any pullback.

Failure to move through the $242 pivot would bring the 38.2% FIB of $230 into play.

Barring an extended sell-off in the week, however, Binance Coin should steer clear of the first major support level at $168.

At the time of writing, Binance Coin was up by 0.27% to $225.92. A mixed start to the week saw Binance Coin slide to an early Sunday morning low $222.15 before rising to a high $229.33.

Binance Coin left the major support and resistance levels untested early on. The 38.2% FIB of $230 pinned Binance Coin back early on, however.

BNBUSD 280221 Daily Chart

Litecoin

Litecoin slid by 24.24% in the week ending 27th February. Following a 0.31% gain from the week prior, Litecoin ended the week at $172.01.

A bullish start to the week saw Litecoin rise to a Sunday intraweek high $233.95 before hitting reverse.

Falling well short of the first major resistance level at $254, Litecoin slid to a Tuesday intraweek low $158.70 before finding support.

The sell-off saw Litecoin fall through the first major support level at $193.50.

More significantly, Litecoin also fell through the 23.6% FIB of $195 and the 38.2% FIB of $163.

Finding support at the second major support level at $159.83, Litecoin revisited $205 levels before falling back.

Litecoin briefly broke through the 23.6% FIB before finding support at the 38.2% FIB late in the week.

4 days in the red that included an 8.49% slide on Monday and a 14.71% tumble on Tuesday delivered the downside.

For the week ahead

Litecoin would need to move through the $188 pivot to bring the 23.6% FIB of $195 and the first major resistance level at $218 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $200 levels.

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

In the event of an extended breakout, Litecoin could test resistance at February’s swing hi $247 before any pullback. The second major resistance level sits at $264.

Failure to move through the $188 pivot would bring 38.2% FIB of $163 and the first major support level at $143 into play.

Barring an extended crypto sell-off, however, Litecoin should steer well clear of the second major support level at $113.

At the time of writing, Litecoin was down by 0.56% to $171.05. A mixed start to the week saw Litecoin fall to an early Sunday morning low $169.13 before rising to a high $173.17.

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

LTCUSD 280221 Daily Chart

Tron’s TRX

Tron’s TRX slid by 19.15% in the week ending 27th February. Following on from a 4.76% decline from the previous week, Tron’s TRX ended the week at $0.04657.

Tracking the broader market, Tron’s TRX rose to a Sunday intraweek high $0.06244 before hitting reverse.

Falling short of the 62% FIB of $0.0648 and the first major resistance level at $0.07010, Tron’s TRX slid to a Tuesday intraweek low $0.03722.

The reversal saw Tron’s TRX slide through first major support level at $0.04552 and the 38.2% FIB of $0.04280.

Steering clear of the second major support level at $0.03343, Tron’s TRX revisited $0.051 levels before falling back into the deep red.

Tron’s TRX slid back through first major support level at $0.04552 and the 38.2% FIB of $0.04280.

Finding late support, however, Tron’s TRX wrapped up the week at $0.04745 levels.

4 days in the red that included a 9.40% fall on Monday and an 16.98% slide on Tuesday delivered the downside for the week.

TRXUSD 280221 Daily Chart

For the week ahead

Tron’s TRX would need move through the $0.04874 pivot to support a run at the first major resistance level at $0.06027.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.060 levels.

Barring a broad-based crypto rally, the first major resistance level and the 62% FIB of $0.06480 would likely cap any upside.

In the event of an extended rally, Tron’s TRX could test resistance at $0.075 levels before any pullback. The second major resistance level sits at $0.07396.

Failure to move through the $0.04874 pivot would bring the 38.2% FIB of $0.04280 and the first major support level at $0.03505 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer well clear of sub-$0.030 levels. The second major support level sits at $0.02352.

At the time of writing, Tron’s TRX was up by 0.33% to $0.04673. A mixed start to the week saw Tron’s TRX fall to an early Sunday morning low $0.04566 before rising to a high $0.04755.

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

The Crypto Daily – Movers and Shakers – February 25th, 2021

Depositphotos_197585438_s-2019

Bitcoin, BTC to USD, rose by 1.71% on Wednesday. Partially reversing a 9.61% slide from Tuesday, Bitcoin ended the day at $49,716.0.

A mixed start to the day saw Bitcoin slide to an early morning intraday low $46,902.0 before making a move.

Steering clear of the 23.6% FIB and the first major support level at $44,534, Bitcoin struck a mid-morning intraday high $51,354.5.

Falling short of the first major resistance level at $53,675, Bitcoin fell back to a low $48,050 and into the red.

Finding late support, however, Bitcoin move back through to $49,000 levels to deliver the upside on the day.

The near-term bullish trend remained intact in spite of the current week reversal. For the bears, Bitcoin would need to slide through the 62% FIB of $24,751 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.

Polkadot (-4.14%) and Ripple’s XRP (-0.38%) saw red to buck the trend on the day.

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

Binance Coin (+10.03%), Cardano’s ADA (+9.23%), and Chainlink (+8.20%) led the way.

Bitcoin Cash SV (+1.20%), Crypto.com Coin (+6.03%), Ethereum (+3.01%), Litecoin (+2.37%) trailed the front runners.

In the current week, the crypto total market cap rose to a Monday high $1,747.74bn before sliding to a Tuesday low $1,293.34bn. At the time of writing, the total market cap stood at $1,515.08bn.

Bitcoin’s dominance rose to a Tuesday high 64.62% before falling to a Wednesday low 61.23%. At the time of writing, Bitcoin’s dominance stood at 62.16%.

This Morning

At the time of writing, Bitcoin was up by 1.67% to $50.545.0. A mixed start to the day saw Bitcoin fall to an early morning low $49,522.0 before rising to a high $50,889.0.

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

Elsewhere, it was a bullish start to the day.

At the time of writing, Binance Coin was up by 2.45% to lead the way.

BTCUSD 250221 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $49,324 to bring the first major resistance level at $51,746 into play.

Support from the broader market would be needed for Bitcoin to break back through to $51,000 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $52,000 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $55,000 before any pullback. The second major resistance level sits at $53,777.

Failure to avoid a fall through the $49,324 pivot would bring the first major support level at $47,294 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of the second major support level at $44,872. The 23.6% FIB of $45,501 should limit the downside.

Binance Coin Mid-Week Analysis – Resistance Levels in Play – 24/02/21

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

Binance Coin Price Resistance

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

A mixed start to the week, however, saw Binance Coin rise to a Sunday current week high $316.45 before hitting reverse.

The early rally saw Binance Coin break through the 23.6% FIB of $283 to revisit $300 levels before hitting reverse.

Falling well short of the first major resistance level at $376.19, Binance Coin slid to a Tuesday current week low $184.36.

The sell-off saw Binance Coin fall through the 23.6% FIB of $283 and the 38.2% FIB of $230.

Steering clear of the 62% FIB of $145 and the first major support level at $123.61, Binance Coin broke back through the 38.2% FIB. The partial recovery saw Binance Coin wrap Tuesday up at $231 levels.

For the current week, Sunday through Tuesday, Binance Coin was down by a relatively modest 8.76% to $231.53.

A 9.35% slide on Monday and a 13.52% tumble on Tuesday delivered the downside for the 1st half of the week.

The near-term bullish trend remained intact, in spite of the current week sell-off. For the bears, a sustained fall through the 62% FIB of $145 would form a near-term bearish trend.

It has been a particularly bullish start to the year, however, with Binance Coin up by 518%.

At the time of writing, Binance Coin was up by 1.97% to $236.09. A mixed start to the day saw Binance Coin fall to an early Wednesday low $213.17 before rising to a high $239.25.

While steering clear of the major support and resistance levels, Binance Coin briefly fell back through the 38.2% FIB of $230.

For the remainder of the week

Binance Coin would need to move back through the $246 pivot to support a run at the first major resistance level at $376.

Support from the broader market would be needed, however, for a Binance Coin break out from the 23.6% FIB of $283.

Barring an extended rally going into the weekend, however, resistance at the current week high $316.45 would likely leave Binance Coin short of the first major resistance level at $376.

In the event of an extended breakout, however, Binance Coin could test resistance at last week’s new swing hi $368.29.

Failure to move through the $246 pivot would bring the 38.2% FIB of $230 and the 62% FIB of $145 into play.

Barring an extended sell-off going into the weekend, however, Binance Coin should steer well clear of the first major support level at $124.

Looking at the Technical Indicators

Major Support Level: $124

Major Resistance Level: $376

23.6% FIB Retracement Level: $283

38.2% FIB Retracement Level: $230

62% FIB Retracement Level: $145

The Crypto Daily – Movers and Shakers – February 23rd, 2021

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

Bitcoin, BTC to USD, slid by 5.73% on Monday. Reversing a 2.85% gain from Sunday, Bitcoin ended the day at $54,087.0.

A mixed start to the day saw Bitcoin rise to an early morning intraday high $57,449.0 before hitting reverse.

Falling short of the first major resistance level at $58,670, Bitcoin tumbled to an early afternoon intraday low $48,255.0.

The sell-off saw Bitcoin slide through the day’s support levels.

Steering clear of the 23.6% FIB of $45,501, however, Bitcoin bounced back to revisit $55,000 late in the day.

Bitcoin broke back through the third major support level at $51,157 and the second major support level at $54,093.

Coming up short of the first major support level at $55,734, however, Bitcoin fell back to sub-$54,000 levels before wrapping up the day at $54,000 levels.

The second major support level at $54,093 pinned Bitcoin back late in the day.

The near-term bullish trend remained intact, supported by the Sunday’s new swing hi $58,321.2. For the bears, Bitcoin would need to slide through the 62% FIB of $24,751 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 surged by 67.52% to lead the way.

Ripple’s XRP (+3.87%) and Polkadot (+0.82%) also bucked the trend on the day.

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

Bitcoin Cash SV slid by 10.66% to lead the way down.

Binance Coin (-9.35%), Chainlink (-7.73%), Ethereum (-8.11%), and Litecoin (-8.50%) also saw heavy losses.

Cardano’s ADA (-0.26%) saw a modest loss on the day.

Early in the current week, the crypto total market cap rose to a Monday high $1,747.86bn before falling to a low $1,390.01bn. At the time of writing, the total market cap stood at $1,595.77bn.

Bitcoin’s dominance fell to a Monday low 61.37% before rising to a Monday high 63.55%. At the time of writing, Bitcoin’s dominance stood at 62.33%.

The News Wires

Following Tesla’s Bitcoin purchase that fueled the latest broad-based crypto rally, comments from Elon Musk weighed on the markets.

Elon Musk tweeted this week that values for Bitcoin and Ethereum seemed too high. The tweets were reportedly made in a discussion on the nature of money.

This Morning

At the time of writing, Bitcoin was down by 1.27% to $53,386.0. A mixed start to the day saw Bitcoin rise to an early morning high $54,138.0 before falling to a low $53,211.0.

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, Crypto.com Coin was down by 5.39% to lead the way down.

BTCUSD 230221 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall back through the pivot level at $53,264 to bring the first major resistance level at $58,272 into play.

Support from the broader market would be needed for Bitcoin to break out from Monday’s high $57,449.0.

Barring an extended crypto rally, the first major resistance level and Sunday’s swing hi $58,321.2 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $60,000 before any pullback. The second major resistance level sits at $62,458.

Failure to avoid a fall back through the $53,264 pivot would bring the first major support level at $49,078 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$45,000 and the second major support level at $44,080. The 23.6% FIB of $45,501 should limit the downside.

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 21/02/21

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Binance Coin

Binance Coin surged by 90.12% in the week ending 20th February. Following on from an 82.88% breakout from the previous week, Binance Coin ended the week at $253.85.

A mixed start to the week saw Binance Coin fall to a Monday intraweek low $115.71 before making a move.

While steering well clear of the first major support level at $79.31, Binance Coin fell through the 23.6% FIB of $117.

Breaking back through the 23.6% FIB on Monday, Binance Coin surged to a Friday intraweek high and a new swing hi $368.29.

Binance Coin broke through the week’s major resistance levels before a sell-off to $221 levels on Saturday.

The pullback saw Binance Coin fall through the third major resistance level at $295 to end the week at $253 levels.

5 days in the green that included a 70.55% surge on Friday and a 27.22% rally on Wednesday delivered the upside for the week. A 23.93% slide on Saturday pared some of the gains from the week.

For the week ahead

Binance Coin would need to avoid a fall through the $246 pivot to bring the 23.6% FIB of $283 and the first major resistance level at $376 into play.

Support from the broader market would be needed for Binance Coin to break back through to $300 levels.

Barring an extended crypto rally, the first major resistance level and last week’s swing hi $368.29 would likely limit any upside in the week.

In the event of an extended crypto rally, could test resistance at $500 before any pullback. The second major resistance level sits at $499.

Failure to avoid a fall through the $246 pivot would bring the 38.2% FIB of $230 into play.

Barring an extended sell-off in the week, however, Binance Coin should steer clear of the 62% FIB of $145 and the first major support level at $124.

At the time of writing, Binance Coin was up by 8.22% to $274.71. A mixed start to the week saw Binance Coin fall to an early Sunday low $249.01 before rising to a high $281.59.

Binance Coin left the major support and resistance levels untested early on. The early rally did see Binance Coin come within range of the 23.6% FIB of $283, however.

BNBUSD 210221 Daily Chart

Litecoin

Litecoin rose by 0.31% in the week ending 20th February. Following on from a 45.29% breakout from the week prior, Litecoin ended the week at $227.17.

A bearish start to the week saw Litecoin fall to a Monday intraweek low $186.58 before making a move.

Steering clear of the 23.6% FIB of $181 and the first major support level at $175, Litecoin rallied to a Saturday intraweek high and a new swing hi $247.00.

Falling short of the first major resistance level at $249, Litecoin fell back to end the week at sub-$230 levels.

4 days in the green that included a 13.02% rally on Wednesday delivered the upside.

For the week ahead

Litecoin would need to avoid a fall through the $220 pivot to bring the first major resistance level at $254 into play.

Support from the broader market would be needed, however, for Litecoin to break out from last week’s swing hi $247.00.

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

In the event of an extended breakout, Litecoin could test resistance at $280 before any pullback. The second major resistance level sits at $281.

Failure to avoid a fall through the $220 pivot would bring 23.6% FIB of $195 and the first major support level at $194 into play.

Barring an extended crypto sell-off, however, Litecoin should steer well clear of the second major support level at $160.

At the time of writing, Litecoin was up by 0.58% to $228.48. A mixed start to the week saw Litecoin fall to an early Sunday low $223.66 before rising to a high $229.59.

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

LTCUSD 210221 Daily Chart

Tron’s TRX

Tron’s TRX fell by 4.76% in the week ending 20th February. Following a 71% surge from the week prior, Tron’s TRX ended the week at $0.05761.

Tracking the broader market, Tron’s TRX slid to a Monday intraweek low $0.04592 before making a move.

Steering clear of the first major support level at $0.04004, Tron’s TRX rallied to a Friday intraweek high $0.07050.

While falling short of the first major resistance level at $0.07201, Tron’s TRX broke through the 62% FIB of $0.0648 before falling back to sub-$0.060 levels.

After closing out the day at $0.061 levels on Friday, Tron’s TRX fell back sub-$0.060 levels to end the week at $0.057 levels.

3 days in the red that included an 8.23% fall on Sunday and an 8.36% slide on Monday delivered the downside for the week.

For the week ahead

Tron’s TRX would need move back through the $0.05801 pivot to support another run at 62% FIB of $0.06480 and the first major resistance level at $0.07010.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the 62% FIB.

Barring a broad-based crypto rally, the first major resistance level and last week’s high $0.07050 would likely cap any upside.

In the event of an extended rally, Tron’s TRX could test resistance at $0.085 levels before any pullback. The second major resistance level sits at $0.08259.

Failure to move back through the $0.05801 pivot would bring the first major support level at $0.04552 and the 38.2% FIB of $0.04280 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer well clear of sub-$0.040 levels. The second major support level sits at $0.03343.

At the time of writing, Tron’s TRX was down by 0.18% to $0.05751. A mixed start to the week saw Tron’s TRX fall to an early Sunday morning low $0.05609 before rising to a high $0.05891.

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

TRXUSD 210221 Daily Chart

The Crypto Daily – Movers and Shakers – February 18th, 2021

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

Bitcoin, BTC to USD, rallied by 5.97% on Wednesday. Following on from a 2.65% gain on Tuesday, Bitcoin ended the day at $52,116.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $49,000.0 before making a move.

Steering clear of the first major support level at $47,336, Bitcoin rallied to a late intraday high and a new swing hi $52,577.0.

Bitcoin broke through the first major resistance level at $50,780 and the second major resistance level at $52,357.

Coming up short of $55,000 levels, Bitcoin fell back through the second major resistance level to end the day at $52,100 levels.

The near-term bullish trend remained intact, supported by the Wednesday’s new swing hi $52,577.0. For the bears, Bitcoin would need to slide through the 62% FIB of $22,556 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.

Binance Coin surged by 27.22% to lead the way.

Crypto.com Coin (+15.18%) and Litecoin (+13.02%) also found strong support.

Bitcoin Cash SV (+5.19%), Cardano’s ADA (+2.58%), Chainlink (+0.85%), Ethereum (+3.92%), Polkadot (+0.23%), and Ripple’s XRP (+2.60%) trailed the front runners.

In the current week, the crypto total market cap fell to a Monday low $1,350.01bn before rising to a Wednesday high $1,586.58bn. At the time of writing, the total market cap stood at $1,562.82bn.

Bitcoin’s dominance fell to a Monday low 60.67% before rising to a Wednesday high 63.41%. At the time of writing, Bitcoin’s dominance stood at 62.41%.

This Morning

At the time of writing, Bitcoin was up by 0.36% to $52,305.0. A bullish start to the day saw Bitcoin rise from an early morning low $52,110.0 to a high $52,539.0.

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

Elsewhere, it was a mixed start to the day.

Litecoin was down by 1.08% to buck the trend early on.

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

At the time of writing, Crypto.com Coin was up by 4.18% to lead the way.

BTCUSD 180221 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $51,231 to bring the first major resistance level at $53,462 into play.

Support from the broader market would be needed for Bitcoin to break out from Wednesday’s new swing hi $52,577.0.

Barring an extended crypto rally, the first major resistance level and resistance at $53,500 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $55,000 before any pullback. The second major resistance level sits at $54,808.

Failure to avoid a fall through the $51,231 pivot would bring the first major support level at $49,885 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$49,000 levels. The second major support level sits at $47,654.

Binance Coin Mid-Week Analysis – Resistance Levels in Play – 17/02/21

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

Binance Coin Price Resistance

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

A mixed start to the week, however, saw Binance Coin rise to a Sunday current week high $141.93 before hitting reverse.

Falling well short of the first major resistance level at $169.21, Binance Coin fell to a Monday current week low $115.71.

While steering well clear of the first major support level at $79.31, Binance Coin fell through the 23.6% FIB of $117.

Finding support late Monday and through Tuesday, Binance Coin revisited $139 levels before easing back.

Binance Coin moved back through the 23.6% FIB of $117 to end Tuesday at $130 levels.

For the current week, Sunday through Tuesday, Binance Coin was down by 2.61% to $130.04

A 4.39% slide on Monday delivered the downside for the 1st half of the week.

The near-term bullish trend remained intact, supported by last week’s new swing hi $150.86. For the bears, a fall through the 62% FIB of $62 would form a near-term bearish trend.

It has been a particularly bullish start to the year, with Binance Coin up by 247%.

At the time of writing, Binance Coin was down by 0.52% to $129.43. A mixed start to the day on Wednesday saw Binance Coin rise to an early morning high 131.74 before falling to low $127.41.

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

BNBUSD 170221 Daily Chart

For the remainder of the week

Binance Coin would need to avoid a fall through the 23.6% FIB of $117 and the $115.08 pivot to support a run at the first major resistance level at $169.21.

Support from the broader market would be needed, however, for a Binance Coin break out from last week’s swing hi $150.86.

Barring an extended rally going into the weekend, resistance at $150 would likely leave Binance Coin short of the major resistance levels.

In the event of an extended breakout, however, Binance Coin could test resistance at $200 before any pullback. The second major resistance level sits at $204.98.

Failure to avoid a fall through 23.6% FIB of $117 and the $115.08 pivot would bring the 38.2% FIB of $96 into play.

Barring an extended sell-off going into the weekend, however, Binance Coin should avoid the first major support level at $79.31.

Looking at the Technical Indicators

Major Support Level: $79.31

Major Resistance Level: $169.21

23.6% FIB Retracement Level: $117

38.2% FIB Retracement Level: $96

62% FIB Retracement Level: $62

The Crypto Daily – Movers and Shakers – February 16th, 2021

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

Bitcoin, BTC to USD, fell by 1.42% on Monday. Partially reversing a 2.98% gain on Sunday, Bitcoin ended the day at $47,906.0.

A mixed start to the day saw Bitcoin rise to an early morning intraday high $48,959.0 before hitting reverse.

Falling short of the first major resistance level at $49,819, Bitcoin slid to an early morning intraday low $45,730.5.

The sell-off saw Bitcoin fall through the first major support level at $47,190 and the second major support level at $45,795.

Finding support through the day, Bitcoin broke back through the major support levels to revisit $48,800 levels.

A bearish end to the day, however, saw Bitcoin fall back to sub-$48,000 levels and into the red.

The near-term bullish trend remained intact, supported by the Sunday’s new swing hi $49,659.0. For the bears, Bitcoin would need to slide through the 62% FIB of $21,442 to form a near-term bearish trend.

The Rest of the Pack

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

Cardano’s ADA and Polkadot rose by 1.98% and by 5.06% respectively to buck the trend on the day.

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

Bitcoin Cash SV slumped by 12.02% to lead the way down, with Ripple’s XRP sliding by 7.42%.

Binance Coin (-4.39%), Chainlink (-2.07%), Crypto.com Coin (-3.98%) Ethereum (-1.31%), and Litecoin (-2.81%) also joined Bitcoin in the red.

At the start of the week, the crypto total market cap fell to a Monday low $1,361.93bn before rising to a Monday high $1,483.98bn. At the time of writing, the total market cap stood at $1,453.99bn.

Bitcoin’s dominance jumped to a Monday high 62.94% before falling to a Monday low 61.11%. At the time of writing, Bitcoin’s dominance stood at 60.42%.

This Morning

At the time of writing, Bitcoin was down by 0.41% to $47,711.0. A mixed start to the day saw Bitcoin rise to an early morning high $48,013.0 before falling to a low $47,486.0.

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, Crypto.com Coin was down by 1.72% to lead the way down.

BTCUSD 160221 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall back through the pivot level at $47,532 to bring the first major resistance level at $49,333 into play.

Support from the broader market would be needed for Bitcoin to break out from Monday’s high $48,959.0.

Barring an extended crypto rally, the first major resistance level and Sunday’s swing hi $49,659.0 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test the second major resistance level at $50,760.

Failure to avoid a fall back through the $47,532 pivot would bring the first major support level at $46,105 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$45,000 levels. The second major support level sits at $44,303.

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 14/02/21

Crypto00 567

Binance Coin

Binance Coin surged by 82.88% in the week ending 13th February. Following on from a 62.90% breakout from the previous week, Binance Coin ended the week at $133.43.

A mixed start to the week saw Binance Coin fall to a Monday intraweek low $60.96 before making a move.

Steering well clear of the 23.6% FIB of $61 and the first major support level at $50.60, Binance coin surged to a Wednesday intraweek high and a new swing hi $150.86.

Binance Coin broke through the week’s major resistance levels before falling back to $110 levels.

The pullback saw Binance Coin fall back through the third major resistance level at $136.43 before briefly revisiting $145 levels.

A bearish end to the week, however, saw Binance Coin fall back through the third major resistance level to end the week at $133 levels.

4 days in the green that included a 34.54% surge on Tuesday and a 19.78% rally on Wednesday delivered the upside for the week.

For the week ahead

Binance Coin would need to avoid a fall through the $115 pivot to bring the first major resistance level at $169 into play.

Support from the broader market would be needed for Binance Coin to break out from last week’s new swing hi $150.86.

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

In the event of an extended crypto rally, could test resistance at $200 before any pullback. The second major resistance level sits at $205.

Failure to avoid a fall through the $115 pivot would bring the 23.6% FIB of $117 and the first major support level at $79 and into play.

Barring a crypto sell-off, Binance Coin should steer well clear of sub-$100 levels and the 38.2% FIB of $96. The second major support level sits at $25.

At the time of writing, Binance Coin was down by 1.13% to $131.92. A mixed start to the week saw Binance Coin rise to an early Sunday high $135.61 before falling to a low $129.99.

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

BNBUSD 140221 Daily Chart

Litecoin

Litecoin jumped by 45.29% in the week ending 13th February. Following on from a 16.66% rally from the week prior, Litecoin ended the week at $226.62.

A bearish start to the week saw Litecoin fall to a Sunday intraweek low $145.33 before making a move.

While steering clear of first major support level at $132.90, Litecoin fell through the 23.6% FIB of $148.

Bullish through the rest of the week, however, Litecoin surged to a Saturday intraweek high and a new swing hi $229.52.

Litecoin broke through the week’s major resistance levels before a pullback to sub-$220.

The pullback saw Litecoin briefly fall back through the third major resistance level at $225.63 before wrapping up the week at $226 levels.

5 days in the green that included a 11.05% rally on Monday and a 14.92% breakout on Saturday delivered the upside.

For the week ahead

Litecoin would need to avoid a fall through the $197 pivot to bring the first major resistance level at $249 into play.

Support from the broader market would be needed, however, for Litecoin to break out from last week’s swing hi $229.52.

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

In the event of an extended breakout, Litecoin could test resistance at $280 before any pullback. The second major resistance level sits at $272.

Failure to avoid a fall through the $197 pivot would bring the 23.6% FIB of $181 and the first major support level at $175 into play.

Barring an extended crypto sell-off, however, Litecoin should steer well clear of the 38.2% FIB of $151. The second major support level sits at $123.

At the time of writing, Litecoin was down by 1.34% to $223.59. A mixed start to the week saw Litecoin rise to an early Sunday high $228.81 before falling to a low $220.59.

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

LTCUSD 140221 Daily Chart

Tron’s TRX

Tron’s TRX surged by 71% in the week ending 13th February. Following on from a 10.82% rally from the week prior, Tron’s TRX ended the week at $0.06045.

Tracking the broader market, Tron’s TRX fell to a Monday intraweek low $0.03120 before making a move.

Steering clear of the first major support level at $0.03032, Tron’s TRX rallied to a Saturday intraweek high $0.06317.

Tron’s TRX broke through the week’s major resistance levels. More significantly, Tron’s TRX also broke through the 38.2% FIB of $0.0428.

In spite of a late Saturday pullback, Tron’s TRX avoided a fall back through the third major resistance level at $0.05335.

5 days in the green that included an 12.96% rally on Monday and a 22.55% breakout on Thursday delivered the upside for the week.

For the week ahead

Tron’s TRX would need to avoid a fall through the $0.05161 pivot to support a run at 62% FIB of $0.06480 and the first major resistance level at $0.0.07201.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the 62% FIB.

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

In the event of an extended rally, Tron’s TRX could test resistance at $0.090 levels before any pullback. The second major resistance level sits at $0.08358.

Failure to avoid a fall through the $0.05161 pivot would bring the 38.2% FIB of $0.04280 and the first major support level at $0.04004 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of sub-$0.040 levels. The 38.2% FIB and first major support level should limit any downside in the week.

At the time of writing, Tron’s TRX was down by 3.09% to $0.05858. A mixed start to the week saw Tron’s TRX rise to an early Sunday high $0.06112 before falling to a low $0.05744.

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

TRXUSD 140221 Daily Chart

The Crypto Daily – Movers and Shakers – February 11th, 2021

Bitcoin and Litecoin over dollar banknotes.

Bitcoin, BTC to USD, slid by 3.54% on Wednesday. Reversing a 0.09% gain from Tuesday, Bitcoin ended the day at $44,841.0.

A bullish start to the day saw Bitcoin rose to a late morning intraday high $47,383.0 before hitting reverse.

Falling short of the first major resistance level at $48,157, Bitcoin slid to a mid-afternoon intraday low $43,777.0.

The reversal saw Bitcoin fall through the first major support level at $44,940.

Finding late support, however, Bitcoin revisited $45,000 levels before falling back to sub-$45,000 levels.

The late pullback saw Bitcoin fall back through the first major support level at $44,940.

The near-term bullish trend remained intact, supported by the Tuesday’s new swing hi $48,277.0. For the bears, Bitcoin would need to slide through the 62% FIB of $20,914 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 and Cardano’s ADA surged by 19.78% and by 33.13% to lead the way.

Polkadot (+5.85%), and Ripple’s XRP (+6.00%) also made solid gains.

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

Bitcoin Cash SV (-4.12%), Chainlink (-2.89%), Crypto.com Coin (-0.24%), and Ethereum (-1.64%), and Litecoin (-0.02%) joined Bitcoin to buck the trend on the day.

In the current week, the crypto total market cap fell to a Monday low $1,145.36bn before surging to a Wednesday high $1,443.1bn. At the time of writing, the total market cap stood at $1,351.16bn.

Bitcoin’s dominance jumped to a Tuesday high 64.76% before falling to a Wednesday low 61.13%. At the time of writing, Bitcoin’s dominance stood at 61.8%.

This Morning

At the time of writing, Bitcoin was up by 0.10% to $44,886.0. A mixed start to the day saw Bitcoin rise to an early morning high $45,075.0 before falling to a low $44,471.0.

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

Elsewhere, it was a mixed start to the day.

Chainlink (+0.31%), Crypto.com Coin (+6.12%), and Ripple’s XRP (+3.19%) bucked the trend early on.

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

At the time of writing, Cardano’s ADA was down by 2.29% to lead the way down.

BTCUSD 110221 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the pivot level at $45,334 to bring the first major resistance level at $46,890 into play.

Support from the broader market would be needed for Bitcoin to break back through to $46,000 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $47,000 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at Tuesday’s swing hi $48,277.0. The second major resistance level sits at $48,940.

Failure to move through the $45,334 pivot would bring the first major support level at $43,284 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $41,728.