Altcoins Weekly Analysis – BNB, EOS and XLM – 17/02/19

Cryptomania

Binance (“BNB”)

BNB rose by 2.47% in the week ending 16th February. Following on from a 29.3% rally from the previous week, BNB ended the week at $9.251.

A particularly bullish start to the week saw BNB rally to a Monday intraweek high $10.083 before hitting reverse. The early rally saw BNB break through the week’s first major resistance level at $9.9369 and the 38.2% FIB Retracement Level of $9.5269.

The reversal saw BNB slide to a Thursday intraweek low $8.5216 before finding support from the broader market.

Steering clear of the week’s first major support level at $7.3909, BNB broke back through to $9.00 levels and the 38.2% FIB on Friday before easing back.

For the week ahead,

BNB would need to move through $9.2850 levels to support another run at $10.00 levels. A breakthrough to $10.00 levels would bring the week’s first major resistance level at $10.0488 into play before any pullback.

For the BNB bulls, the 38.2% FIB remains a key line in the sand.

Following some relatively bullish moves through February, BNB up by 45.6% for the current month, we would expect BNB to fall short of the second major resistance level at $10.8466 and $11 levels in the week.

Failure to move through to $9.2850 levels could see BNB hit reverse. A pullback to sub-$9.00 levels would bring last week’s low $8.5216 and this week’s first major support level at $8.4874 into play before any recovery.

We would expect BNB to avoid heavier losses and a pullback to sub-$8.00 levels in the week, in the event of a reversal.

At the time of writing, BNB was up by 0.13% to $9.2391.

BNB/USD 17/02/19 Weekly Chart

EOS

EOS rose by 0.57% in the week ending 16th February. Following on from a 13.31% rally from the previous week, EOS ended the week at $2.8301.

A relatively bullish start to the week saw EOS rally to a Tuesday intraday week high $3.066, breaking through the week’s first major resistance level at $3.0236 before hitting reverse.

Sliding from $3.00 levels, EOS fell back to $2.7 levels before finding support late in the week to move back into the green and end the week at $2.80 levels.

A start of a week intraday week low $2.6954 saw EOS steer well clear of the week’s first major support level at $2.459, with a hold above $2.67 levels through the week key to avoiding losses that were seen elsewhere in the cryptomarket.

For the week ahead,

A move through to $2.8650 levels would support another run at $3.00 levels to bring the week’s first major resistance level at $3.0323 into play before any pullback.

While we would expect EOS to continue to fall well short of $4.00 levels, a broad-based crypto rally could bring the second major resistance level at $3.2344 into play before any pullback. The rally would need to be a significant one, however, with Bitcoin needing to take a run at $4,000 levels to deliver an EOS breakout.

Failure to move through to $2.8650 levels could see EOS take a slide through last week’s low $2.6954 to bring the first major support level at $2.6617 into play.

Barring a broad-based crypto sell-off, we would expect EOS to find sufficient support to avoid sub-$2.60 levels and the second major support level at $2.4932.

At the time of writing, EOS was up by 0.86% to $2.8545.

EOS/USD 17/02/19 Weekly Chart

Stellar’s Lumen

Stellar’s Lumen fell by 3.09% in the week ending 16th February. Following on from a 3.29% slide from the previous week, Stellar’s Lumen ended the week at $0.07940.

Stellar’s Lumen had a bearish start to the week. Falling from $0.0826 levels, Stellar’s Lumen slid to a Thursday intraday week low $0.07596 before finding support. In spite of the reversal, Stellar’s Lumen steered clear of the week’s first major support level at $0.0747.

A broad-based cryptomarket rally on Friday provided much-needed support, with Stellar’s Lumen rallying to an intraweek high $0.0830 before sliding back to sub-$0.0800 levels.

The day’s rally saw Stellar’s Lumen come up well short of the week’s first major resistance level at $0.0863 before the pullback.

For the week ahead,

A move through $0.0795 levels would support a move back through to $0.080 levels and a run at the week’s first major resistance level at $0.0830.

Support from the broader market would be needed for Stellar’s Lumen to hold onto $0.080 levels through the week, with resistance at $0.080 continuing to pin Stellar’s Lumen back from a breakout.

Barring a broad-based crypto rally, we would expect Stellar’s Lumen to come up short of the week’s second major resistance level at $0.0865.

Failure to move through $0.0795 levels and hold could see Stellar’s Lumen call on support at the week’s first major support level at $0.0759 before any recovery.

Barring a broad-based crypto sell-off, we would expect Stellar’s Lumen to avoid heavier losses and the second major support level at $0.0724. Last week’s low $0.07596 will likely to limit the downside.

At the time of writing, Stellar’s Lumen was up by 0.80% to $0.07877.

XLM/USD 17/02/19 Weekly Chart

Binance Coin Analysis – Support Levels Eyed – 13/02/19

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Binance Coin Price Support

It’s been a mixed start to the week for Binance. Binance managed a 3.3% rise on Monday before hitting reverse. Monday’s gain came off the back of a 35.5% rise from last week.

The Monday rally saw Binance strike an early week high $9.936 before hitting reverse on Tuesday. The reversal saw Binance slide from an early morning high $9.888 to an early in the week low $9.0564 before finding support. Binance ended Tuesday with a 2.3% loss.

Steering well clear of the week’s first major support level at $7.4909, the key through the early part of the week was holding onto $9.00 levels.

In spite of the solid gains since early December’s swing lo $4.1724, the extended bearish trend remains intact.

Moves through the early part of this week saw Binance attempt a breakout from the 38.2% FIB Retracement Level of 9.5269. Selling pressure led to a fall back through the 38.2% FIB.  In spite of the pullback, Binance managed to hold well above the 23.6% FIB Retracement Level of $7.4804.

At the time of writing, Binance was down by 2.25% to $9.2154.  Binance fell from the start of a day morning high $9.5577 to a morning low $9.1101 before finding support. The early moves saw Bucking the trend from across the broader market

While steering clear of the week’s major support level at $7.4909, the pullback saw Binance call on support at $9.00 levels and the day’s first major support level at $8.9331 in the early hours.

BNB/USD 13/02/19 Weekly Chart

For the remainder of the week

Binance would need to hold onto $9.00 levels to support a mid-week recovery. Tuesday and this morning’s slides have pulled Binance into the red for the current week.

Having bucked the trend from the broader market in recent weeks, a move back through Tuesday’s end of day $9.428 to $9.50 levels would be needed to support a run at the 38.2% FIB Retracement Level of $9.5269.

However, we would expect Binance to face strong resistance at the 38.2% FIB. Binance will likely be pinned back from a run at $10.00 levels.  The week’s first major resistance level at $10.3811 will likely be left untested ahead of the weekend.

Should Binance manage breakthrough to $9.50 levels ahead of the weekend, support from the broader market could see Binance take a run at $10.00 levels before any pullback.

Failure to hold onto $9.00 levels could see Binance’s downward move accelerate through the week. A fall through $8.60 levels could bring the week’s first major support level at $7.4909 into play.  The 23.6% FIB Retracement Level of $7.4804 may also come into play before any recovery, in the event of a sell-off.

Facing the prospects of a 3rd consecutive day in the red, a 10% slide for the week wouldn’t be completely unreasonable. Following last week’s rally, some of the cream is likely to come off the top.

Looking at the Technical Indicators

Major Support Level: $7.4909

Major Resistance Level: $10.3811

Fib 23.6% Retracement Level: $7.4804

Fib 38% Retracement Level: $9.5269

Fib 62% Retracement Level: $12.835

Altcoins Weekly Analysis – EOS, IOT and XLM – 10/02/19

Cryptos

EOS

EOS rallied by 13.31% in the week ending 9th February. Following on from a 1.61% gain from the previous week, EOS ended the week at $2.814.

A relatively bearish first half of the week saw EOS fall to a Wednesday intraweek low $2.3163 before steadying.

Struggling to hold onto $2.4 levels mid-week, a broad-based crypto rally on Friday delivered the lion’s share of the weekly gain, with EOS rallying by 16.94% on the day.

Friday’s rally saw EOS break through the week’s first major resistance level at $2.5912 and second major resistance level at $2.6991.

Following on from Friday’s rally, EOS rose to an intraweek high $2.8782 on Saturday, before easing back.

For the week ahead, a hold onto $2.75 levels would provide support for further gains through the week.

A breakthrough last week’s high $2.8782 would bring $3.00 levels and the week’s first major resistance level at $3.0236 into play before any pullback.

Barring a broad-based crypto rally, we would expect EOS to be pinned back from a breakout from $3.00 levels. The the second major resistance level at $3.2332 will unlikely be tested in the week.

Failure to hold onto $2.75 levels could see EOS fall back through to $2.5 levels. A pullback would bring the week’s first major support level at $2.459 into play.

While we would expect EOS to steer clear of the second major support level at $2.104, a pullback to $2.3 levels and last week’s low $2.3136 could come into play should the market hit reverse.

At the time of writing, EOS was down 0.92% at $2.7880.

EOS/USD 10/02/19 Weekly Chart

IOTA

IOTA rose by 5.16% in the week ending 9th February. Reversing most of the previous week’s 6.08% loss, IOTA ended the week at $0.2812.

A relatively bearish first half of the week saw IOTA fall through the first major support level at $0.2464 to a Wednesday intraday week low $0.2403.

IOTA managed to recover to $0.25 levels by the end of Thursday before rallying to a Friday intraweek high $0.2901. IOTA broke through the first major resistance level at $0.2879 before easing back.

Recovering from a Saturday low $0.2751, IOTA managed to wrap up the week at $0.28 levels.

For the week ahead, a hold onto $0.28 levels through the early part of the week would support a run at $0.30 levels and the week’s first major resistance level at $0.3008.

We would expect IOTA to come up short of the second major resistance level at $0.3203. In the event of a broad-based crypto rally, $0.3100 levels could come into play.

Failure to hold onto $0.28 levels could see IOTA fall through to $0.26 levels before any recovery. Barring a broad-based crypto sell-off, we would expect IOTA to steer clear of $0.25 levels and the week’s first major support level at $0.2510.

At the time of writing, IOTA was up 1.79% to $0.2863.

IOT/USD 10/02/19 Weekly Chart

Stellar’s Lumen

Stellar’s Lumen fell by 3.29% in the week ending 9th February. Following on from the previous week’s 15.38% slide, Stellar’s Lumen ended the week at $0.081184.

It was a particularly bearish start to the week. Stellar’s Lumen fell on 4 consecutive days to an intraweek low and new swing lo $0.07336 before finding support.

The reversal saw Stellar’s Lumen slide through the first major support level at $0.0765, whilst avoiding sub-$0.07 support levels.

Following a relatively range-bound Thursday, Stellar’s Lumen found support from the broader market to strike a Friday intraweek high $0.084999. In spite of the Friday recovery, Stellar’s Lumen came up short of the week’s first major resistance level at $0.0964. Stellar’s Lumen was back in the red on Saturday.

For the week ahead, a hold onto $0.08 levels would bring the week’s first major resistance level at $0.0863 into play. Support from the broader market would be needed for Stellar’s Lumen to take a run at $0.09 levels and the second major resistance level at $0.0915.

Failure to hold onto $0.08 levels could see Stellar’s Lumen fall through the week’s first major support level at $0.0747 before any recovery. Barring a broad-based crypto sell-off, we would expect sub-$0.07 support levels to be left untested.

At the time of writing, Stellar’s Lumen was down 0.33% at $0.080916.

XLM/USD 10/02/19 Weekly Chart

Tron Coin Analysis – Support Levels Eyed – 06/02/19

altcoins

Tron Coin Price Support

 

It’s been another mixed start to the week for Tron. Following last week’s 12.71% sell-off, Tron managed to bounce back with a 5.51% rally on Monday, returning to $0.028 levels before hitting reverse.

Monday’s rally saw Tron move from a start of a week low $0.0254 to an early in the week high $0.029699. The rebound saw Tron break through the week’s first major resistance level at $0.02850 before the reversal.

A 2.12% fall on Tuesday left Tron with just a 3.3% gain going into this morning, with Tron joining the broader market following a buck trending rally on Monday.

Last week’s losses and moves through the early part of this week have seen Tron’s year-to-date gains cut to 38.5%

In spite of the solid gains since late November’s swing lo $0.0111, the extended bearish trend remains intact. Tron continues to fall well short of the 23.6% FIB Retracement Level of $0.0322 and, of greater significance, late April’s swing hi $1.0041

At the time of writing, Tron was down by 1.35% to $0.026235. Tracking the broader market through the early hours, Tron fell to a week low $0.02550 before recovering to $0.026 levels. In spite of the early sell-off, Tron managed to hold above the week’s first major support level at $0.0236.

TRX/USD 06/02/19 Weekly Chart

For the remainder of the week

 

A move through to $0.0265 levels would support another run at the week’s first major resistance level at $0.0285. Following last week’s high $0.0294, Tron will continue to face plenty of resistance on the way through to $0.030 levels to pin back a breakout from the week’s first major resistance level at $0.0285.

A material shift in sentiment across the broader market would be needed ahead of the weekend to give Tron a free run at $0.030 levels. We would expect Tron to continue to fall short of the 23.6% FIB Retracement Level of $0.0322, however, in the event of a 2nd half of the week rally.

Failure to move through to $0.0265 levels could see Tron give up more of the beginning of the week gains. A fall back through the current week’s low $0.02550 would bring the week’s first major support level at $0.0236 into play.

Sentiment from the broader market will have an impact going into the weekend. A continued reversal through the week could see Tron call on support at the second major support level at $0.0216 before any recovery. We would expect sub-$0.020 support levels to be left untested in the event of a crypto meltdown.

Following Tuesday’s pullback and this morning’s bearish moves, moving back through to $0.0265 levels will be key to avoiding a more material sell-off. Tron is up by 140% from November’s swing lo, so there’s plenty of incentive for investors to lock in gains should the current broad-based crypto sell-off persist through the week.

Looking at the Technical Indicators

 

Major Support Level: $0.0236

Major Resistance Level: $0.0285

Fib 23.6% Retracement Level: $0.0322

Fib 38% Retracement Level: $0.0452

Fib 62% Retracement Level: $0.0663

Altcoins Weekly Analysis – EOS, ETH and TRX – 03/02/19

crypto

EOS

EOS gained 1.61% in the week ending 2nd February. Partially reversing a 2.39% loss from the week before, EOS eneded the week at $2.4833.

A bearish start to the week saw EOS slide from a Sunday high $2.4737 to a Monday intraday week low $2.1830 before finding support. The pullback saw EOS fall through the first major support level at $2.3097 to come within range of the second major support level at $2.1743.

Recovering through the remainder of the week, EOS rallied to an end of week intraweek high $2.4950 before easing back. The first major resistance level at $2.5634 was left untested through the week.

For the week ahead, EOS will need to hold onto $2.4 levels to support a move through last week’s high $2.495, and to bring $2.5 levels and the week’s first major resistance level at $2.5912 into play. Following last week’s gain, support from the broader market would be needed for EOS to take a run at $2.6 levels. We would expect the week’s second major resistance level at $2.6991 to be left untested.

Failure to hold onto $2.4 levels could see EOS reverse last week’s gains. A fall through $2.38 levels and the first major support level at $2.2792 could see EOS call on support at the second major support level at $2.0751 before any recovery. Heavier losses would not be expected in the event of a sell-off.

At the time of writing, EOS was down 0.95% to $2.4596.

EOS/USD 03/02/19 Weekly Chart

Ethereum

Ethereum fell by 4.96% in the week ending 2nd February. Following on from a 6.65% slide in the previous week, Ethereum ended the week at $109.3.

Tracking the broader market, Ethereum slid from a start of a week intraweek high $115.45 to a Monday intraweek low $100.9 before recovering. While managing to avoid sub-$100 levels, a fall through the first major support level at $109 and second major support level at $103 left Ethereum with 3 consecutive days in the red.

Unable to break through to $116 levels, Ethereum fell well short of the week’s major resistance levels to leave the extended bearish trend firmly intact.

For the week ahead, Ethereum will need to move through to $109 levels to support a breakthrough to $110 levels. Barring a broad-based cryptomarket rally, we would expect Ethereum to come up short of the week’s first major resistance level at $116.20.  Last week’s high $115.45 will likely to pin Ethereum back.

Failure to move through to $109 levels could see Ethereum face the prospects of a 4th consecutive week in the red.

A pullback through $105 levels would likely see Ethereum call on support at the first major support level at $101.65. Heavier losses could be on the cards. A dip to sub-$100 levels is in play should a broad-based cryptomarket sell-off kick in. We would expect Ethereum to steer clear of the second major support level at $94.00.

At the time of writing, Ethereum was down 0.75% to $108.48.

ETH/USD 03/02/19 Weekly Chart

Tron’s TRX

Tron slid by 8.51% in the week ending 2nd February. Partially reversing the previous week’s 17.8% rally, Tron ended the week at $0.02651.

A bullish start to the week saw Tron rally to a Sunday intraweek high $0.03123 before hitting reverse. Tron came up against the first major resistance level at $0.03150. Tron fell short of the 23.6% FIB Retracement Level of $0.0322 to leave the extended bearish trend intact.

Bearish through the remainder of the week, Tron fell to a Friday intraweek low $0.0245 before recovery. The reversal saw Tron fall through the first major support level at $0.0252 before moving back through to $0.026 levels.

For the week ahead, Tron will need to move through to $0.0275 levels to take a run the first major resistance level at $0.03030. Tron will need support from the broader market to bring last week’s high $0.03123 into play. We will expect the 23.6% FIB Retracement Level of $0.0322 to be left untested.

Failure to move through to $0.02750 levels could see Tron take a bigger hit in the week. A fall through last week’s low $0.0245 would bring the first major support level at $0.0236 into play. Barring a broad-based cryptomarket rally, we would expect heavier losses and the second major support level at $0.02070 to be left untested in the week.

At the time of writing, Tron was down 1.04 % to $0.026232.

TRX/USD 03/02/19 Weekly Chart

Tron Coin Analysis – Looking for a Rebound – 30/01/19

Crypto

Tron Coin Price Support

It’s been a mixed start to the week for Tron. Following last week’s 22.97% rally, the bears took a bite out of the bulls on Monday. A broad-based crypto sell-off weighed on Tron, which slid by 7.21% before finding support on Tuesday to buck the broader market trend with a 1.06% rise.

A Monday low $0.025446 for the current week saw Tron hold above the week’s first major support level at $0.02490 before recovering to $0.028 levels. A start of a week high $0.02940 saw Tron come within range of $0.030 levels, whilst falling well short of the 23.6% FIB Retracement Level of $0.0322 and the week’s first major resistance level at $0.0326.

For the current week, Tron was down by 5.74%, Monday through Tuesday, with the losses coming from the Monday sell-off.

In spite a bullish start to the year, Tron up by 44% for the current month, the extended bearish trend, formed at an end of April swing hi $0.1004, remained intact following a late November swing lo $0.0111, with Tron continuing to fall short of the 23.6% FIB Retracement Level of $0.0322.

At the time of writing, Tron was up by 1.88% to $0.028185. Moves through the early morning saw Tron recover from a start of a day dip. Tron rose from a morning low $0.027183 to strike a morning high $0.028206 before easing back.

For the remainder of the week, holding onto $0.28 levels through the middle part of the week would support another run at $0.030 levels. We would expect Tron to face plenty of resistance on a run at $0.0290 levels. A breakthrough the start of the week high $0.0294 would be needed to drive momentum going into the weekend.

Barring a broad-based crypto rally, we would expect Tron to be pinned back by the 23.6% FIB and first major resistance level at $0.0326 in the event of a crypto rebound.

Failing to hold onto $0.028 levels could see Tron pullback ahead of the weekend. A fall through to $0.026 levels will likely bring the week’s low $0.02545 and the first major support level at $0.0249 into play before any recovery.

Barring a meltdown, we would expect Tron to steer clear of the week’s second major support level at $0.0205.  Tuesday’s trend-bucking move should give Tron some downside protection in the event of bearish moves elsewhere in the cryptomarket.

After Monday’s sell-off, it’s ultimately going to boil down to holding above key levels. Investors will likely jump ship and lock in solid gains since November’s swing lo, in the event that there’s a hint of another sell-off.

TRX/USD 30/01/19 Weekly Chart

Looking at the Technical Indicators

 

Major Support Level: $0.03260

Major Resistance Level: $0.02490

Fib 23.6% Retracement Level: $0.0322

Fib 38% Retracement Level: $0.0452

Fib 62% Retracement Level: $0.0663

Altcoins Weekly Analysis – ETH, TRX and XLM – 27/01/19

altcoins

Ethereum

Ethereum fell by 6.65% in the week ending 26th January, following on from a 1.12% fall from the previous week, to end the week at $115.01.

A particularly bearish start to the week saw Ethereum fall from an intraweek high $123.70 to an early in the week intraweek low $110.37 before steadying.

The moves through the week saw Ethereum fall through the first major support level at $113.65 before partially recovering to a relatively range bound 2nd half of the week.

The start of the week high came up well short of $130 levels and the first major resistance level at $132.53, leaving the extended bearish trend firmly intact, Ethereum continuing to fall well short of the 23.6% FIB of $257.

For the week ahead, a move through to $116 levels would signal a possible reversal of the New Year losses, bringing the week’s first major resistance level at $122.35 into play before any pullback. While we would expect Ethereum to fall well short of the week’s second major resistance level at $129.69, a run through to $125 levels could be on the cards in the event of a market rally before any reversal.

Failure to move through to $116 levels could signal a bearish week for Ethereum. A pullback through last week’s low $110.37 would bring the week’s first major support level at $109.02 into play. Heavier losses could be on the cards in the event of a sell-off, while we would expect Ethereum to find enough support at the second major support level at $103.03 to avoid sub-$100 levels through the week.

At the time of writing, Ethereum was down 0.12% to $114.89.

ETH/USD 27/01/19 Weekly Chart

Tron’s TRX

Tron rallied by 17.8% through the week ending 26th January, following on from a 0.4% gain the previous week, to end the week at $0.02933.

Bucking the trend from across the broader market, it was a particularly bullish week, with Tron bouncing back from a start to the week fall to an intraweek low $0.023348 to strike an end of week intraweek high $0.029619.

Steering clear of the week’s first major support level at $0.0210, 5 days in the green saw Tron break through the week’s first major resistance level at $0.0269 to come up against the second major resistance level at $0.0298 before easing back at the end of the week.

While the solid week of gains left Tron up 52.7% since the start of the year, the extended bearish trend remained intact, with Tron needing a breakout from the 23.6% FIB of $0.0322 to $0.045 levels and the 38.2% FIB of $0.0452 to form a near-term bullish trend.

For the week ahead, a hold above $0.027 levels through the early part of the week would signal further upside for Tron. A move through last week’s high $0.029619 would be needed to support another run at $0.030 levels to bring the first major resistance level at $0.0315 into play before any pullback. We would expect Tron to fall short of the second major resistance level at $0.0337, with selling pressure at the 23.6% FIB of $0.0322 there to pin Tron back from a breakout.

Failure to hold above $0.027 levels could see Tron ease back to $0.025 levels to bring the first major support level at $0.0252 into play before any recovery. While we would expect the week’s second major support level at $0.0212 to be left untested through the week, a hold above last week’s low $0.02335 would be needed to avoid a $0.021 levels in the event of a broad based sell-off.

At the time of writing, Tron was by 0.07% to $0.028914.

TRX/USD 27/01/19 Weekly Chart

Stellar’s Lumen

Stellar’s Lumen fell by 8.2% in the week ending 26th January, reversing a 1.55% gain from the previous week, to end the week at $0.1005.

A particularly bearish week saw Stellar’s Lumen fall on 5 of the 7 days, with the reversal kicking off from a start of a week intraweek high $0.11056 that came up short of the first major resistance level at $0.1148.

The reversal saw Stellar’s Lumen fall through the week’s first major support level at $0.1040 to an end of week intraweek low $0.09928, calling on support at the second major support level at $0.0985 before steadying.

The sell-off left Stellar’s Lumen down 11.2% since the start of the year, reaffirming the extended bearish trend, with Stellar’s Lumen continuing to fall short of the 23.6% FIB Retracement Level of 0.1434 following 15th December’s swing lo $0.09353.

For the week ahead, a move back through to $0.1030 levels would be needed for Stellar’s Lumen to claw back some of last week’s losses. Support from the broader market would be needed to bring the week’s first major resistance level at $0.1078 and $0.11 levels into play. We would expect last week’s high $0.11056 to pin Stellar’s Lumen back from more material gains to leave $0.12 levels and the second major resistance level at $0.1269 off the table for the week.

Failure to move back through to $0.1030 levels could see Stellar’s Lumen resume its downward trend, with a fall back through last week’s low $0.09876 bringing the week’s first major support level at $0.096 into play. While we would expect Stellar’s Lumen to steer clear of sub-$0.090 support levels, the week’s second major support level at $0.0915 could come into plays should the broader market slide.

At the time of writing, Stellar’s Lumen was down by 0.9% to $0.09959.

XLM/USD 27/01/19 Weekly Chart

Tron Coin Analysis – Bulls on the Charge – 23/01/19

altcoins

Tron Coin Price Resistance

It’s been a particularly bullish start to the week for Tron, with moves through the early part of the week seeing Tron rally from a start of a week low $0.023601 to an early week high $0.027225 on Tuesday before easing back.

The bullish start to the week saw Tron break through the week’s first major resistance level at $0.0267 to hit $0.027 levels for the first time since 15th January before easing back to $0.026 levels.

For the current week, Tron is up 11.8% Monday through Tuesday, the lion’s share of the gains having come from a 7.9% rally on Monday, bucking the trend across the broader market on the day.

Tron has steered clear of the week’s first major support level at $0.0211, in spite of a late Tuesday morning sell-off seen across the broader market, which led to a day low $0.025103 on Tuesday.

In spite the bullish start to the week, the extended bearish trend, formed at an end of April swing hi $0.1004, remained intact following a late November swing lo $0.0111, with Tron continuing to fall short of the 23.6% FIB Retracement Level of $0.0322.

At the time of writing, Tron was down 0.71% to $0.02655. Moves through the early hours of Wednesday saw Tron recover from a morning low $0.02623 to hit a morning high $0.02667 before easing back, the week’s first major resistance level at $0.0268 pinning Tron back in the early hours.

For the remainder of the week, a break back through the first major resistance level at $0.0268 to Tuesday’s high $0.027225 would bring $0.028 levels into play later in the week before any pullback. We would expect resistance at $0.028 to pin Tron back from a run at $0.029 levels and the week’s second major resistance level at $0.0297.

Failing to break back through the week’s first major resistance level at $0.0268 could see Tron hit reverse later in the week, with a pullback through $0.024 levels likely to see Tron slide through the start of the week low $0.023601 before any recovery.

While the extended bearish trend continues to remain intact, with Tron unable to break back through the 23.6% FIB Retracement Level of $0.322, we would expect Tron to steer clear of the week’s first major support level at $0.0211.

This week’s gains come off the back of a 10.7% rebound last week, following a reversal the previous week and, while we can expect some profit taking to pin Tron back mid-week, only a broad based crypto sell-off could reverse the early part of the week’s gains.

TRX/USD 23/01/19 Weekly Chart

Looking at the Technical Indicators

 

Major Support Level: $0.0211

Major Resistance Level: $0.0268

Fib 23.6% Retracement Level: $0.0322

Fib 38% Retracement Level: $0.0452

Fib 62% Retracement Level: $0.0663

Tron Coin Analysis – Bulls Look for a Way Back – 16/01/18

altcoins

Tron Coin Price Support

It’s been a mixed start to the week for Tron (“TRX”), with a bullish start to the week seeing Tron rally to an early intraday week high $0.027 on Tuesday, Tron falling short of the week’s first major resistance level at $0.0312, before hitting reverse.

A current week gain of 15%, Monday through Tuesday, came on Monday, with Tron rallying by 21.36% to reverse last week’s 8.63% slide, before falling by 5.25% on Tuesday to pullback to $0.24 levels.

Moves through the early part of the week have seen Tron manage to steer clear of the week’s first major support level at $0.0165, while also coming up well short of last week’s high $0.03585.

In spite of Monday’s rally, it’s been a bearish of late, with Tron seeing red on 5 of the last 6 days to cut the 2019 gain to 87%, still a whopping number when compared with the broader market.

In spite the bullish start to the year, the extended bearish trend, formed at an end of April swing hi $0.1004, remained intact following a late November swing lo $0.0111, with Tron continuing to fall short of the 23.6% FIB Retracement Level of $0.0322.

At the time of writing, Tron was down 0.25% to $0.024687, with moves through the early hours of Wednesday morning seeing Tron fall from a morning high $0.024803 to a low $0.024320 before steadying.

For the remainder of the week, a move back through to $0.026 levels would support a break through the current week’s high $0.027 to bring $0.03 levels and the first major resistance level at $0.0312 into play before any pullback.

Following last week’s high $0.035846, Tron will likely fall short of $0.04 levels and the second major resistance level at $0.0408, barring a major crypto rally. A move through to $0.03 levels and the 23.6% FIB Retracement Level of $0.0322 needed ahead of the weekend to raise the possibility of $0.04 levels by the end of the week.

Failure to move back through to $0.026 levels ahead of the weekend could see Tron hit reverse going into the weekend, a pullback through the current week low $0.0213 likely to bring sub-$0.02 levels into play before any recovery.

While the extended bearish trend remains intact, we would expect Tron to steer clear of the week’s first major support level at $0.0165 through the remainder of the week, barring another crypto meltdown.

For the crypto bulls, last week’s reversal brought to an end any near-term chance of a bearish trend reversal, with Tron needing a breakout from the 23.6% FIB Retracement Level of $0.0322 to $0.040 levels to begin forming a near-term bullish trend.

TRX/USD 16/01/19 Weekly Chart

Looking at the Technical Indicators

Major Support Level: $0.0165

Major Resistance Level: $0.0312

Fib 23.6% Retracement Level: $0.0322

Fib 38% Retracement Level: $0.0452

Fib 62% Retracement Level: $0.0663

Altcoins Weekly Analysis – EOS, ETH and IOT – 20/01/19

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EOS

EOS gained 2.17% in the week ending 19th January, partially reversing a 10.7% slide from the previous week, to end the week at $2.5051.

A bearish start to the week saw EOS fall to an intraday week low $2.2431, holding above the week’s first major support level at $2.18 before finding support, with a Tuesday recovery.

While relatively choppy through the week, EOS’s gains came off the back of 4 day’s in the green, with 3.6% rally on Thursday ensuring that EOS closed out the week in positive territory.

The extended bearish trend, formed at late April’s swing hi $23.03, remained intact, with EOS continuing to fall well short of the 23.6% FIB Retracement Level of $6.62 following 7th December’s new swing lo $1.55. The week’s relatively minor gains left EOS down 4.6% since the start of the year, the 10th January sell-off doing most of the damage.

For the week ahead, holding onto $2.50 levels through the early part of the week would support a move back through last week’s high $2.59 to bring $2.60 levels and the week’s first major resistance level at $2.65 into play. Sentiment across the broader market would need to materially improve however, for EOS to take a run at the second major resistance level at $2.80 and a possible return to $3.00 levels.

Failure to hold onto $2.50 levels through the early part of the week could see EOS pullback through $2.45 levels to bring the week’s first major support level at $2.30 into play.

Following last week’s low $2.24, the week’s second major support level at $2.10 could come into play should another sell-off kick in, while we would expect EOS to steer clear of sub-$2.00 levels.

At the time of writing, EOS was 0.11% to $2.5078.

EOS/USD 20/01/19 Weekly Chart

Ethereum

Ethereum fell by 1.12% in the week ending 19th January, following on from a 19.2% slide from the previous week, to end the week at $123.17.

A spill over from the 10th January meltdown and 3 consecutive days in the red saw Ethereum start the week on the back foot, falling to an intraweek low $113.5 before finding support.

Steering clear of the week’s first major support level at $111.03, Ethereum rallied to a Tuesday intraweek high $132.38. Ethereum came up short of the week’s first major resistance level at $148.87 before easing back to $120 levels on Wednesday and a relatively range bound 2nd half of the week.

For the week ahead, a hold onto $123 levels through the early part of the week would support another run at $130 levels to bring last week’s high $132.38 and the first major resistance level at $132.53 into play.

For Ethereum to break out to $140 levels and take a run at the second major resistance level at $141.90, there would need to be a material shift in sentiment across the cryptomarket, with the news wires needing to support. A hold onto $130 levels would be the week’s target for the bulls.

Failure to hold onto $123 levels could see Ethereum hit reverse to log in a 3rd consecutive week in the red, a fall through to sub-$120 levels bringing the week’s first major support level at $113.65 into play. For Ethereum to hold onto gains made since the mid-December swing lo $80.60, sub-$110 levels would need to be avoided.

At the time of writing, Ethereum was up 0.07% to $123.26.

ETH/USD 20/01/19 Weekly Chart

IOTA

IOTA gained just 0.96% in the week ending 19th January, following a 16.1% slide in the previous week, to end the week at $0.3169.

A bearish start to the week saw IOTA slide through the first major support level at $0.2738 to a Tuesday intraweek low $0.272 before finding support, with IOTA managing to recover to $0.30 levels on the day.

Upward momentum through the 2nd half of the week saw IOTA rise to a intraweek high $0.3344 on Saturday before easing back, the major resistance levels left untested through the week, a hold onto $0.30 levels by the end of the week being key for the crypto bulls.

For the week ahead, holding onto $0.31 levels through the early part of the week would support a move back through last week’s high $0.3344, while support from the broader market would be needed for IOTA to take a run at $0.34 levels and the week’s first major resistance level at $0.3435.

Failure to hold onto $0.31 levels through the early part of the week could see IOTA resume the 2019 reversal, a fall through $0.3070 likely to bring sub-$0.30 levels and the week’s first major support level at $0.2811 into play before any recovery.

Heavier losses and a return to last week’s low $0.2720 is not expected, barring a crypto meltdown in the week.

At the time of writing, IOTA was up 1.01% to $0.3201.

IOT/USD 20/01/19 Weekly Chart