Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 28/03/21

Binance Coin

Binance Coin rose by 1.97% in the week ending 27th March. Partially reversing a 4.23% fall from the previous week, Binance Coin ended the week at $269.33.

A bullish start to the week saw Binance Coin rose to a Monday intraweek high $283.50 before hitting reverse.

While falling short of the first major resistance level at $288, Binance Coin came up against the 23.6% FIB of $283.

The reversal saw Binance Coin slide to a Thursday intraweek low $223.80.

Falling back through the 23.6% FIB, Binance Coin also fell through the first major support level at $239 and the 38.2% FIB of $230.

Finding support late in the week, however, Binance Coin bounced back to $277 levels before easing back.

While falling short of the 23.6% FIB, Binance Coin broke back through the 38.2% FIB and the first major support level.

4 days in the green that included a 9.07% rally on Friday and a 5.49% gain on Saturday delivered the upside for the week.

For the week ahead

Binance Coin would need to avoid a fall through the $259 pivot to bring the 23.6% FIB of $283 and the first major resistance level at $294 into play.

Support from the broader market would be needed, however, for Binance Coin to break out from last week’s high $283.50

Barring an extended rally, the first major resistance level and resistance at $300 would likely cap any upside.

In the event of a breakout, Binance Coin could test resistance at $350 before any pullback. The second major resistance level sits at $319.

Failure to avoid a fall through the $259 pivot would bring the first major support level at $234 and the 38.2% FIB of $230 into play.

Barring an extended sell-off, Binance Coin should steer well clear of the second major support level at $199.

At the time of writing, Binance Coin was down by 0.10% to $269.05. A mixed start to the week saw Binance Coin rise to an early Sunday morning high $271.24 before falling to a low $266.10.

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

BNBUSD 280321 Daily Chart

Litecoin

Litecoin fell by 8% in the week ending 27th March. Following an 11.47% slide from the previous week, Litecoin ended the week at $184.14.

A mixed start to the week saw Litecoin rise to a Sunday intraweek high $201.95 before hitting reverse.

Falling well short of the first major resistance level at $222, Litecoin slid to a Thursday intraweek low $167.78.

Litecoin fell through and the first major support level at $185 and the second major support level at $170.

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

Finding support late in the week, Litecoin broke back through the support levels to visit $186 levels before easing back.

Litecoin fell back through the first major support level at $185 to end the week at $184 levels.

4 days in the red that included a 5.03% fall on Monday and a 5.33% slide on Wednesday delivered the loss for the week.

For the week ahead

Litecoin would need to move through the $185 pivot to bring the first major resistance level at $202 into play.

Support from the broader market would be needed, however, for Litecoin to break out from the 23.6% FIB of $195.

Barring an extended crypto rally, the first major resistance level and last week’s high $201.95 would likely limit any upside.

In the event of an extended breakout, Litecoin could test resistance at $230 before any pullback. The second major resistance level sits at $219.

Failure to move through the $185 pivot would bring and the first major support level at $167 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of the second major support level at $151.

The 38.2% FIB of $163 should limit the downside.

At the time of writing, Litecoin was down by 0.40% to $183.41. A mixed start to the week saw Litecoin rise to an early Sunday morning high $184.73 before falling to a low $182.52.

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

LTCUSD 280321 Daily Chart

Tron’s TRX

Tron’s TRX rose by 3.49% in the week ending 27th March. Following on from a 14.71% rally from the week prior, Tron’s TRX ended the week at $0.06310.

A mixed start to the week saw Tron’s TRX rise to a Monday high $0.06723 before hitting reverse.

While falling short of the first major resistance level at $0.07121, Tron’s TRX broke through the 62% FIB of $0.06480.

The reversal saw Tron’s TRX slide back through the 62% FIB to a Thursday intraweek low $0.05137.

Steering clear of the first major support level at $0.04863, Tron’s TRX bounced back to strike a Saturday intraweek high $0.06972.

While continuing to fall short of the major resistance levels, Tron’s TRX broke back through the 62% FIB of $0.06480 before easing back.

2 days in the green that included a 17.35% breakout on Friday delivered the upside for the week.

For the week ahead

Tron’s TRX would need to avoid a fall through the $0.06140 pivot to support a run at the first major resistance level at $0.07142.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the 62% FIB and last week’s high $0.06972.

Barring a broad-based crypto rally, the first major resistance level and resistance at $0.075 would likely cap any upside.

In the event of an extended rally, Tron’s TRX could test resistance at $0.080. The second major resistance level sits at $0.07975.

A break through and hold above the 62% FIB of $0.0648 would lead to a near-term bullish trend formation.

Failure to avoid a fall through the $0.06140 pivot would bring the first major support level at $0.05307 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.04305.

At the time of writing, Tron’s TRX was up by 0.68% to $0.06353. A mixed start to the week saw Tron’s TRX rise to an early Sunday morning high $0.06382 before falling to a low $0.06227.

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

TRXUSD 280321 Daily Chart

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