Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 10/05/20

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

Binance Coin

Binance Coin fell by 4.33% in the week ending 9th May. Partially reversing a 5.46% gain from the previous week, Binance Coin ended the week at $16.79.

It was a mixed start to the week, with Binance Coin rising to an early Sunday high $18.04 before hitting reverse.

Falling well short of the first major resistance level at $19.49, Binance Coin slid to an early Thursday intraweek low $15.26.

Finding support at the first major support level at $15.25, Binance Coin found support late in the week to return to $17 levels. Binance Coin briefly revisited $18 levels on Thursday before easing back. A Thursday intraday high $18.26 came up short of the first major resistance level at $19.49, however.

4 consecutive days in the red, which included a 2.47% and 3.15% fall on Sunday and Wednesday, delivered the losses.

2 consecutive days in the green before a Saturday pullback did limit the damage at the end of the week, however.

For the week ahead

Binance Coin would need to break through to $16.80 levels to bring the first major resistance level at $18.28 into play.

Support from the broader market would be needed for Binance Coin to break back through to $18 levels.

Barring a broad-based crypto rally, resistance at $17 would likely leave Binance Coin short of the first major resistance level at $18.28.

In the event of a breakout, Binance Coin could test resistance at $19 levels before any pullback.

Failure to move back through to $16.80 levels could see Binance Coin struggle throughout the week.

A fall back through to the second major support level at $13.77 would bring sub-$12 levels into play.

Barring a crypto meltdown, however, Binance Coin should steer clear of the third major support level at $10.77.

At the time of writing, Binance Coin was down by 11.26% to $14.895. A particularly bearish start to the week saw Binance Coin slide from an early morning high $17.02 to a low $13.62.

Binance Coin fell through the first major support level at $15.28 and the second major support level at $13.77.

BNB/USD 10/05/20 Weekly Chart

Litecoin

Litecoin fell by 4.71% in the week ending 9th May. Partially reversing a 10.85% rally from the previous week, Litecoin ended the week at $46.94.

A mixed start to the week saw Litecoin rise to an early Sunday intraweek high $49.99 before hitting reverse.

Falling short of the first major resistance level at $52.42, Litecoin slid to a Wednesday intraweek low $44.47.

Litecoin fell through the first major support level at $44.65 before finding support from the broader market.

Ending a run of 4 consecutive days in the red, Litecoin briefly bounced back to $49 levels. 2 consecutive days in the green cut the deficit for the week before a Saturday reversal.

For the week ahead

Litecoin would need to move back through to $47.20 levels to support a run at the first major resistance level at $49.80.

Support from the broader market would be needed, however, for Litecoin to break out from the first major support level at $44.28.

Barring an extended crypto rally, resistance at $45 would likely leave Litecoin short of the first major resistance level at $49.80.

Failure to move through to $47.20 levels could see Litecoin come under further pressure.

A fall back through to $40 levels would bring the third major support level at $36.09 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$40 support levels.

At the time of writing, Litecoin was down by 11.18% to $41.69. A bearish start to the week saw Litecoin fall from an early morning high $47.00 to a low $40.03.

Litecoin fell through the first major support level at $44.28 and the second major support level at $41.61.

LTC/USD 10/05/20 Weekly Chart

Tron’s TRX

Tron’s TRX fell by 1.57% in the week ending 9th May. Following a 16.64% rally from the previous week, Tron’s TRX ended the week at $0.016135.

A choppy start to the week saw Tron’s TRX fall to a Monday intraweek low $0.015132 before finding support.

Steering clear of the first major support level at $0.01455, Tron’s TRX bounced back to a Tuesday intraweek high 0.016650.

Falling short of the first major resistance level at $0.01737, Tron’s TRX slid back to $0.0154 levels before finding support.

Continuing to steer clear of the major support levels, Tron’s TRX returned to $0.0165 levels.

5 days in the red delivered the loss for the week.

For the week ahead

Tron’s TRX would need to move through to $0.016 levels to support a run at the first major resistance level at $0.01681.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the first major support level at $0.01529.

Barring a broad-based crypto rebound in the week, resistance at $0.016 would likely leave Tron’s TRX short of the first major resistance level.

Failure to move through to $0.016 levels could see Tron’s TRX struggle throughout the week.

A fall back through to sub-$0.014 levels would bring the third major support level at $0.01294 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer well clear of sub-$0.012 levels.

At the time of writing, Tron’s TRX was down by 11.99% to $0.014201. A bearish start to the week saw Tron’s TRX slide from an early morning high $0.01665 to a low $0.01300.

Tron’s TRX fell through the first major support level at $0.01529 and the second major support level at $0.01445.

TRX/USD 10/05/20 Weekly Chart

The Crypto Daily – Movers and Shakers -07/05/20

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

Bitcoin rose 1.47% on Wednesday. Following on from a 1.72% gain on Tuesday, Bitcoin ended the day at $9,152.5.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $8,913.6 before making a move.

Steering clear of the first major support level at $8,810.87, Bitcoin rallied to a final hour intraday high $9,418.0.

Bitcoin broke through the first major resistance level at $9,177.07 and the second major resistance level at $9,334.03.

A first May visit to $9,400 levels was short-lived, however. Bitcoin slid back through the major resistance levels to wrap up the day at $9,150 levels.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the majors, it was a bearish day for the pack on Wednesday.

EOS slid by 4.12% to lead the way down.

Binance Coin (-3.25%), Bitcoin Cash SV (-3.07%), Ethereum (-3.04%), Litecoin (-3.35%), Monero’s XMR (-3.80%), and Tezos (-3.57%) also saw deep red.

Bitcoin Cash ABC (-1.44%), Cardano’s ADA (-1.55%), Ripple’s XRP (-2.29%), Stellar’s Lumen (-2.83%), and Tron’s TRX (-2.21%) saw relatively modest losses.

Through the current week, the crypto total market cap rose from a Monday low $240.56bn to a Wednesday high $258.03bn. At the time of writing, the total market cap stood at $252.52bn.

While Bitcoin’s dominance held onto 65% levels following Monday’s modest loss, Tuesday and Wednesday’s trend-bucking moves delivered 67% levels. At the time of writing, Bitcoin’s dominance stood at 67.0%.

24-hour trading volumes rose to a Monday high $164.25bn before easing back to a Tuesday current week low $145.07. At the time of writing, 24-hr volumes stood at $163.67bn.

This Morning

At the time of writing, Bitcoin was up by 0.43% to $9,191.6. A mixed start to the day saw Bitcoin fall to an early morning low $9,029.0 before striking a high $9,210.0.

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

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

Cardano’s ADA, Ethereum, and Stellar’s Lumen were up by 1.42%, 1.84, and by 1.64% respectively to lead the way.

BTC/USD 07/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through to $9,200 levels to bring the first major resistance level at $9,409.13 into play.

Support from the broader market would be needed, however, for Bitcoin to break back through to $9,400 levels.

Barring a broad-based crypto rally, resistance at $9,300 would likely leave Bitcoin short of the first major resistance level.

In the event of another breakout, $9,500 levels could come into play before any pullback.

Failure to move through to $9,200 levels could see Bitcoin fall back into the red.

A fall through back through to sub-$9,160 levels would bring the first major support level at $8,904.73 into play before any recovery.

Barring a crypto meltdown, however, Bitcoin should steer well clear of the second major support level at $8,656.97.

Binance Coin Mid-Week Analysis – Support Levels in Play – 06/05/20

Apple iPhone and Binance logo, with dollars and cryptocurrency.

Binance Coin Price Support

It’s been a bearish start to the week, with Binance Coin seeing 3 consecutive days in the red.

The bearish start to the week saw Binance Coin rise to a Sunday current week low $18.04 before hitting reverse.

Falling well short of the first major resistance level at $19.49, Binance Coin fell to a Monday current week low $16.14.

Steering clear of the first major support level at $15.32, Binance Coin moved back through to $17.7 levels on Tuesday before falling back into the red.

For the current week, Binance Coin was down by 3.65% to $16.91, Sunday through Tuesday. A 2.47% fall on Sunday coupled with losses on Monday and Tuesday did the damage.

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

It’s had been a relatively bullish start to the year before the current downward trend. Having been up by as much as 101% year-to-date, Binance Coin was up by 23.88% year-to-date.

For the bulls, Binance Coin would need to break through the 62% FIB of $27.3 to form a near-term bullish trend.

At the time of writing, Binance Coin was down by 0.62% to $16.81. A bearish start to the day on Wednesday saw Binance Coin fall from an early morning high $16.93 to a low $16.78.

Binance Coin continued to leave the major support and resistance levels untested.

BNB/USD 06/05/20 Weekly Chart

For the remainder of the week

Binance Coin would need to move back through to $17.25 levels to support a run at the first major resistance level at $19.49 and 38.2% FIB of $19.40.

Support from the broader market would be needed, however, for Binance Coin to breakout from last week’s high $19.16.

Barring an extended crypto rally ahead of the weekend, resistance at $19 would likely leave Binance Coin short of the first major resistance level.

In the event of a breakout, Binance Coin could test resistance at $20 before any pullback.

Failure to move back through to $17.25 could see Binance Coin fall deeper into the red.

A pullback through to the current week low $16.14 would bring the first major support level at $15.32 into play.

Barring an extended crypto sell-off, however, Binance Coin should steer clear of the 23.6% FIB of $14.40.

Looking at the Technical Indicators

Major Support Level: $15.32

Major Resistance Level: $19.49

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 -05/05/20

Bitcoin coin on white keyboard

Bitcoin fell by 0.40% on Monday. Following on from a 0.92% decline on Sunday, Bitcoin ended the day at $8,865.8.

It was a bearish start to the day. Bitcoin slid from an early morning intraday high $8,961.8 to a mid-morning intraday low $8,517.0.

Bitcoin fell through the first major support level at $8,692.53 before rebounding to $8,959 levels.

While breaking back through the first major support level, Bitcoin left the first major resistance level at $9,405.27 untested on the day. Resistance at $9,000 pinned Bitcoin back.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.

The Rest of the Pack

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

Cardano’s ADA, Tezos, and Tron’s TRX rose by 0.81%, 1.25%, and by 1.16% to buck the trend.

It was a bearish start to the week for the rest of the majors.

Bitcoin Cash ABC (-1.50%), Bitcoin Cash SV (-2.08%), EOS (-2.48%), Ethereum (-1.61%), Litecoin (-2.26%), and Monero’s XMR (-1.71%) saw relatively heavy losses.

Binance Coin (-0.70%), Ripple’s XRP (-0.64%), and Stellar’s Lumen (-0.40%) saw modest losses on the day.

Through the start of the week, the crypto total market cap rose from a Monday low $240.56bn to a high $249.61bn. At the time of writing, the total market cap stood at $248.98bn.

While Bitcoin’s dominance held onto 65% levels following Monday’s modest loss. At the time of writing, Bitcoin’s dominance stood at 65.8%.

24-hour trading volumes rose from $155bn levels to a Monday high $164.25bn before easing back. At the time of writing, 24-hr volumes stood at $161.59bn.

This Morning

At the time of writing, Bitcoin was up by 0.07% to $8,872.4. A mixed start to the day saw Bitcoin rise to an early morning high $8,918.8 before falling to a low $8,850.0.

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

Elsewhere, it was a mixed start to the day.

Cardano’s ADA and Tron’s TRX led the way with gains of 1.16% and 1.25% respectively.

Bitcoin Cash SV bucked the trend, however, with a 0.42% loss early on.

BTC/USD 05/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through to $8,900 levels to bring the first major resistance level at $9,046.07 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Monday’s high $8,961.8.

Barring a broad-based crypto rally, resistance at $9,000 would likely leave Bitcoin short of the first major resistance level.

In the event of another breakout, the second major resistance level at $9,226.33 could come into play.

Failure to move through to $8,900 levels could see Bitcoin hit reverse.

A fall through to sub-$8,780 levels would bring the first major support level at $8,601.27 into play before any recovery.

Barring a crypto meltdown, however, Bitcoin should well clear of the second major support level at $8,336.73.

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 03/05/20

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

Binance Coin

Binance Coin rose by 5.46% in the week ending 2nd May. Following on from a 20.48% rally from the previous week, Binance Coin ended the week at $17.57.

A choppy first half of the week saw Binance Coin fall to a Wednesday intraweek low $14.99 before making a move.

Steering clear of the first major support level at $14.41 and 23.6% FIB of $14.40, Binance Coin rallied to a Thursday intraweek high $19.16.

Binance Coin broke through the first major resistance level at $17.87 and second major resistance level at $19.10.

A reversal on the day saw Binance Coin slide back to sub-$16 levels to end the day in the red.

It was a bullish end to the week, however. Binance Coin broke back through the first major resistance level to visit $18 levels before easing back.

For the week, 5 days in the green delivered the upside, while a 2.57% fall on Thursday pinned Binance Coin back.

For the week ahead

Binance Coin would need to break through to $18.00 levels to bring the first major resistance level at $19.49 into play.

Support from the broader market would be needed for Binance Coin to break out from last week’s high $19.16.

Barring a broad-based crypto rally, the major resistance level at $19.49 and 38.2% FIB of $19.40 would likely cap any upside.

In the event of a breakout, Binance Coin could test resistance at $20 levels before any pullback.

Failure to move back through to $18.00 levels could see Binance Coin struggle in the week.

A fall back through to sub-$17.25 levels would bring the first major support level at $15.32 into play.

Barring a crypto meltdown, however, Binance Coin should steer clear of sub-$16 levels.

At the time of writing, Binance Coin was up by 0.48% to $17.65. A bullish start to the week saw Binance Coin rise from an early morning low $17.19 to a high $18.04.

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

BNB/USD 03/05/20 Weekly Chart

Litecoin

Litecoin rallied by 10.85% in the week ending 2nd May. Following on from a 0.43% gain from the previous week, Litecoin ended the week at $49.26.

A mixed start to the week saw Litecoin fall to a Monday intraweek low $43.19 before making a move.

Steering clear of the first major support level at $40.76, Litecoin rallied to a Thursday intraweek high $50.96.

Litecoin broke through the first major resistance level at $46.83 and the second major resistance level at $49.25.

A reversal on the day saw Litecoin fall back to sub-$46 levels before a late in the week rally.

Litecoin broke back through the first and second major resistance levels to wrap up the week at $49 levels.

5 days in the green, including a 6.66% rally on Wednesday delivered the upside for the week.

For the week ahead

Litecoin would need to move back through to $50 levels to support a run at the first major resistance level at $52.42.

Support from the broader market would be needed, however, for Litecoin to break out from last week’s high $50.96.

Barring an extended crypto rally, the first major resistance level at $52.42 should limit any upside.

Failure to move through to $50 levels could see Litecoin come under further pressure.

A fall back through to sub-$47.80 levels would bring the first major support level at $44.65 into play.

Barring a broad-based crypto sell-off, however, Litecoin should steer clear of sub-$45 support levels.

At the time of writing, Litecoin was up by 0.63% to $49.57. A bullish start to the day saw Litecoin rise from an early morning low $49.19 to a high $49.99.

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

LTC/USD 03/05/20 Weekly Chart

Tron’s TRX

Tron’s TRX rallied by 16.64% in the week ending 2nd May. Following on from a 3.44% gain from the previous week, Tron’s TRX ended the week at $0.016308.

A particularly bullish start to the week saw Tron’s TRX rally from a Sunday intraweek low $0.013855 to a Thursday intraweek high $0.016669.

Tron’s TRX broke through the first major resistance level at $0.01474 and the second major resistance level at $0.01558.

A Thursday reversal saw Tron’s TRX fall back to $0.01490 levels before finding support late in the week.

The late rebound saw Tron’s TRX break back through the second major resistance level to wrap up the day at $0.016 levels.

For the week ahead

Tron’s TRX would need to avoid sub-$0.01560 levels to support a run at the first major resistance level at $0.01737.

Support from the broader market would be needed, however, for Tron’s TRX to break out from last week’s high $0.016669.

Barring an extended crypto rally in the week, resistance at $0.017 would likely leave Tron’s TRX short of the first major resistance level.

Failure to avoid sub-$0.01560 levels could see Tron’s TRX struggle in the week.

A fall back through to sub-$0.01560 levels would bring the first major support level at $0.01455 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer well clear of sub-$0.014 levels.

At the time of writing, Tron’s TRX was up by 0.45% to $0.016382. A bullish start to the week saw Tron’s TRX rise from an early morning low $0.016382 to a high $0.016598.

Tron’s TRX left the major support and resistance levels untested early on.

TRX/USD 03/05/20 Weekly Chart

The Crypto Daily – Movers and Shakers -30/04/20

Closeup hand holding bitcoin over the Cryptocurrency trading scr

Bitcoin surged by 13.26% on Wednesday. Reversing a 0.35% fall from Tuesday, Bitcoin ended the day at $8,778.7.

A particularly bullish day saw Bitcoin rally from an early morning intraday low $7,705.0 to a late intraday high $8,918.0.

Bitcoin broke through the major resistance levels to return to $8,000 for the 1st time since 12th March.

In spite of a late pullback, Bitcoin avoided a fall back through the third major resistance level at $7,971.87.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish day for the pack on Wednesday.

Cardano’s ADA, EOS, and Ethereum rallied by 10.06%, 8.55%, and by 9.67% respectively to lead the way.

Binance Coin (+6.23%), Bitcoin Cash ABC (+6.26%), Litecoin (+6.68%), Monero’s XMR (+6.46%), and Tezos (+6.83%) also found strong support.

Bitcoin Cash SV (+5.11%), Ripple’s XRP (+5.60%), Stellar’s Lumen (+5.04%), and Tron’s TRX (+5.43%) trailed the front runners.

Through the start of the week, the crypto total market cap rose from a Monday low $220.56bn to a Wednesday high $251.11bn. At the time of writing, the total market cap stood at $250.15bn.

While Bitcoin’s dominance recovered to 64% levels following Wednesday’s breakout. At the time of writing, Bitcoin’s dominance stood at 64.8%.

24-hour trading volumes rose from sub-$130bn levels to an early Thursday high $211.32bn before easing back. At the time of writing, 24-hr volumes stood at $207.42bn.

This Morning

At the time of writing, Bitcoin was up by 1.53% to $8,912.6. A bullish start to the day saw Bitcoin rise from an early morning low $8,707.0 to a high $8,912.7.

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

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

Bitcoin Cash ABC and Bitcoin Cash SV were up by 5.92% and by 10.58% to lead the way.

BTC/USD 30/04/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid sub-$8,500 levels to support a run at the first major resistance level at $9,229.47.

Support from the broader market would be needed, however, for Bitcoin to break through to $9,000 levels.

Barring an extended crypto rally, resistance at $9,000 would likely leave Bitcoin short of the first major resistance level.

In the event of another breakout, the second major resistance level at $9,680.23 and $10,000 levels would come into play.

Failure to avoid sub-$8,500 levels could see Bitcoin struggle later in the day.

A fall back through to sub-$8,470 levels would bring the first major support level at $8,016.47 into play.

Barring a crypto meltdown, however, Bitcoin should steer of sub-$8,000 support levels.

Binance Coin Mid-Week Analysis – Resistance Levels in Play – 29/04/20

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Binance Coin Price Resistance

 It’s been a mixed start to the week, with Binance Coin seeing 2 consecutive days in the green before seeing red on Tuesday.

The mixed start to the week saw Binance Coin fall to a Sunday current week low $15.91 before making a move.

Steering clear of the first major support level at $14.92, Binance Coin rallied to a Monday current week high $16.72 before easing back.

Falling short of the first major resistance level at $17.41, Binance Coin fell back to sub-$16.10 levels before finding support.

Following 0.81% and 0.34% gains on Sunday and Monday, a 0.31% decline on Tuesday limited the gains for the current week.

For the current week, Sunday through Tuesday, Binance Coin was up by 0.61% to $16.39.

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

It’s had been a relatively bullish start to the year before the current downtrend. Having been up by as much as 101% year-to-date, Binance Coin was up by 20.07% year-to-date.

For the bulls, Binance Coin would need to break through the 62% FIB of $27.3 to form a near-term bullish trend.

At the time of writing, Binance Coin was down by 0.28% to 16.34. It was a bearish start to the day on Wednesday. Binance Coin fell from an early morning high $16.73 to a low $16.18.

Binance Coin continued to leave the major support and resistance levels untested early on.

BNB/USD 29/04/20 Weekly Chart

For the remainder of the week

Binance Coin would need to avoid a return to sub-$16 levels to support a run at the first major resistance level at $17.41.

Support from the broader market would be needed, however, for Binance Coin to break out from last week’s high $17.24

Barring an extended crypto rally ahead of the weekend, resistance at $17 would likely leave Binance Coin short of the first major resistance level.

In the event of a breakout, Binance Coin could test resistance at $18 before any pullback.

Failure to avoid sub-$16 levels could see Binance Coin hit reverse.

A pullback through the current week low $15.91 would bring the first major support level at $14.92 into play.

Barring an extended crypto sell-off, however, Binance Coin should steer clear of the 23.6% FIB of $14.40.

Looking at the Technical Indicators

Major Support Level: $14.92

Major Resistance Level: $17.41

23.6% FIB Retracement Level: $14.4

38.2% FIB Retracement Level: $19.4

62% FIB Retracement Level: $27.3

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 26/04/20

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Binance Coin

 Binance Coin fell by 2.46% in the week ending 25th April. Following a 20.48% rally from the previous week, Binance Coin ended the week at $16.25.

A particularly bearish start to the week saw Binance Coin slide from a Sunday high $16.77 to a Tuesday intraweek low $14.75.

In spite of a 3.4% slide on Sunday and 6.6% tumble on Monday, Binance Coin steered clear of the first major support level at $14.41.

Binance Coin also steered clear of the 23.6% FIB of $14.40.

Finding support through the 2nd half of the week, Binance Coin rallied to a Thursday intraweek high 17.24.

In spite of 3 consecutive days in the green, Binance Coin fell short of the first major resistance level at $17.87.

A pullback to sub-$16 levels was short-lived on Friday, with a bullish end to the week limiting the loss for the week.

For the week ahead

Binance Coin would need to break through to $16.50 levels to bring the first major resistance level at $17.41 into play.

Support from the broader market would be needed for Binance Coin to break out from last week’s high $17.24.

Barring a broad-based crypto rally, the major resistance level at $17.41 would likely cap any upside.

In the event of a breakout, Binance Coin could test resistance at $19 levels before any pullback.

Failure to move back through to $16.50 levels could see Binance Coin struggle in the week.

A fall back through to sub-$15.50 levels would bring the first major support level at $14.92 into play.

Barring a crypto meltdown, however, Binance Coin should steer well clear of sub-$14 levels. The 23.6% FIB of $14.40 should limit any downside.

At the time of writing, Binance Coin was flat at $16.25. A range-bound start to the week saw Binance Coin rise from an early morning low $16.18 to a high $16.37.

BNB/USD 26/04/20 Weekly Chart

Litecoin

Litecoin rose by 0.43% in the week ending 25th April. Following on from a 3.76% gain from the previous week, Litecoin ended the week at $44.41.

Another bearish start to the week saw Litecoin fall from a Sunday high $44.39 to a Monday intraweek low $39.53.

Litecoin fell through the first major support level at $39.96 before rallying to a Saturday intraweek high $45.60.

In spite of the rebound, Litecoin fell short of the first major resistance level at $46.47 at the end of the week.

4 consecutive days in the green, before a Saturday pullback reversed 2 consecutive days in the red from the start of the week.

For the week ahead

Litecoin would need to move back through to $45 levels to support a run at the first major resistance level at $46.83.

Support from the broader market would be needed, however, for Litecoin to break out from last week’s high $45.60.

Barring an extended crypto rally, the first major resistance level at $46.83 should limit any upside.

Failure to move through to $45 levels could see Litecoin come under further pressure.

A fall back through to sub-$43.20 levels would bring the first major support level at $40.76 into play.

Barring a broad-based crypto sell-off, however, Litecoin should steer clear of sub-$40 support levels.

At the time of writing, Litecoin was up by 0.34% to $44.56. A bullish start to the week saw Litecoin rise from an early morning low $44.27 to a high $45.00.

Litecoin steered clear of the major support and resistance levels early on.

LTC/USD 26/04/20 Weekly Chart

Tron’s TRX

Tron’s TRX rose by 3.44% in the week ending 25th April. Following on from a 6.71% gain from the previous week, Tron’s TRX ended the week at $0.013897.

Tracking the broader market, 2 consecutive days in the red saw Tron’s TRX fall to a Monday intraweek low $0.012231.

Tron’s TRX fell through the first major support level at $0.012320 before rallying to a Friday intraweek high $0.014329.

The rebound saw Tron’s TRX break through the first major resistance level at $0.01403 before easing back.

Following 2 consecutive days in the red, a run of 5 consecutive days in the green delivered the upside for the week.

For the week ahead

Tron’s TRX would need to avoid sub-$0.01350 levels to support a run at the first major resistance level at $0.01474.

Support from the broader market would be needed, however, for Tron’s TRX to break out from last week’s high $0.014329.

Barring an extended crypto rally in the week, the first major resistance level at $0.01474 should limit any upside.

Failure to avoid sub-$0.01350 levels could see Tron’s TRX struggle in the week.

A fall back through to sub-$0.01350 levels would bring the first major support level at $0.01264 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer well clear of the second major support level at $0.01139.

At the time of writing, Tron’s TRX was up by 0.89% to $0.014020. A bullish start to the week saw Tron’s TRX rise from an early morning low $0.013981 to a high $0.014051.

Tron’s TRX left the major support and resistance levels untested early on.

TRX/USD 26/04/20 Weekly Chart

The Crypto Daily – Movers and Shakers -23/04/20

Bitcoin 1

Bitcoin rallied by 4.13% on Wednesday. Following on from a 0.19% gain on Tuesday, Bitcoin ended the day at $7,133.0.

A bearish start to the day saw Bitcoin fall to an early morning intraday low $6,826.2 before making a move.

Steering clear of the first major support level at $6,760.47, Bitcoin rallied to a late afternoon intraday high $7,164.0.

Bitcoin broke through the first major resistance level at $6,949.17 and the second major resistance level at $7,048.33.

In spite of a brief pullback to sub-$7,100 levels, Bitcoin held above the second major resistance level through the remainder of the day.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish day on Wednesday.

Tezos (+8.94%), Stellar’s Lumen (+7.88%), Ethereum (+7.05%), and Cardan’s ADA (+6.24%) led the way.

Bitcoin Cash ABC (+5.73%), Bitcoin Cash SV (+4.98%), and EOS (+4.09%) also found strong support.

Binance Coin (+3.89%), Litecoin (+2.92%), Monero’s XMR (+3.15%), Ripple’s XRP (+2.74%), and Tron’s TRX (+3.92%) trailed the front runners.

Through the current week, the crypto total market cap fell from a Monday high $209.37bn to a Tuesday current week low $196.98bn. At the time of writing, the total market cap stood at $207.01bn.

Bitcoin’s dominance continued to hover at sub-64% levels following last week’s gains. At the time of writing, Bitcoin’s dominance stood at 63.4%.

24-hour trading volumes rose to a current week high $146.91bn on Monday before falling to sub-$120bn levels on Tuesday. While seeing a pickup on Wednesday, volumes failed to break through to $130bn levels. At the time of writing, 24-hr volumes stood at $124.73bn.

This Morning

At the time of writing, Bitcoin was up by 0.45% to $7,165.2. A mixed start to the day saw Bitcoin fall to an early morning low $7,110.5 before striking a high $7,177.0.

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

Elsewhere, it was a mixed start to the day.

Stellar’s Lumen led the way, rallying by 3.46%. Binance Coin bucked the trend early on, however, falling by 0.27%.

BTC/USD 23/04/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through to $7,200 levels to bring the first major resistance level at $7,255.93 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $7,177.0

Barring another broad-based crypto rally, resistance at $7,200 would likely leave Bitcoin short of the first major resistance level.

In the event of a broad-based crypto rally, the second major resistance level at $7,378.87 would likely come into play.

Failure to move through to $7,200 levels could see Bitcoin hit reverse.

A fall through to sub-$7,040 levels would bring the first major support level at $6,918.13 into play.

Barring a crypto meltdown, however, Bitcoin should steer of the second major support level at $6,703.27.

Binance Coin Mid-Week Analysis – Support Levels in Play – 22/04/20

Apple iPhone and Binance logo, with dollars and cryptocurrency.

Binance Coin Price Support

It has been a bearish start to the week, with 2 consecutive days in the red delivering heavy losses early in the week.

Binance Coin tumbled from a Sunday current week high $16.77 to a Tuesday current week low $14.75 before finding support.

A 3.42% fall on Sunday and a 6.61% slide on Monday were followed up with a 0.92% gain on Tuesday to stop the slide.

In spite of the sell-off, however, Binance Coin steered clear of the first major support level at $14.41 and 23.6% FIB of $14.40.

The start of the week high fell well short of the first major resistance level at $17.87.

For the current week, Sunday through Tuesday, Binance Coin was down by 9.00% to $15.16.

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

It’s had been a relatively bullish start to the year before the current downtrend. Having been up by as much as 101% year-to-date, Binance Coin was up by just 11.06% year-to-date.

For the bulls, Binance Coin would need to break through the 62% FIB of $27.3 to form a near-term bullish trend.

At the time of writing, Binance Coin was up by 0.70% to $15.26. It was a mixed start to the day on Wednesday. Binance Coin fell to an early morning low $14.89 before striking a high $15.30.

Binance Coin continued to steer clear of the first major support level at $14.41 and 23.6% FIB of $14.40.

BNB/USD 22/04/20 Weekly Chart

For the remainder of the week

Binance Coin would need to break back through to $15.65 levels to support a run at the first major resistance level at $17.87.

Support from the broader market would be needed, however, for Binance Coin to break out from the current week high $16.77.

Barring a broad-based crypto rally ahead of the weekend, resistance at $16 would likely continue to cap any upside.

In the event of a breakout, Binance Coin could test the first major resistance level before any pullback.

Failure to move back through to $15.65 levels could see Binance Coin fall deeper into the red.

A pullback through the current week low $14.75 would bring the 23.6% FIB of $14.40 and the first major support level at $14.41 into play.

Barring a crypto meltdown, however, Binance Coin should steer well clear of sub-$14 levels.

Looking at the Technical Indicators

Major Support Level: $14.41

Major Resistance Level: $17.87

23.6% FIB Retracement Level: $14.4

38.2% FIB Retracement Level: $19.4

62% FIB Retracement Level: $27.3