Binance Coin Mid-Week Analysis – Support Levels in Play – 27/05/20

Apple iPhone and Binance logo, with dollars and cryptocurrency.

Binance Coin Price Support

It’s been a relatively bearish but also relatively choppy 1st half of the week.

A mixed start to the week saw Binance Coin rise to a Sunday current week high $16.81 before hitting reverse.

Falling well short of the first major resistance level at $17.73, Binance Coin slid to an early Monday current week low $15.73.

Steering clear of the first major support level at $14.02, Binance Coin recovered to $16.50 levels before easing back.

For the current week, Binance Coin was down by 1.64% to $16.21, Sunday through Tuesday.

Two days in the red out of 3 that included a 3.09% slide on Sunday delivered the downside in the 1st half of the week.

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 18.75% 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 0.21% to $16.18. it was a mixed start to the day on Wednesday. Binance Coin rose to an early morning high $16.41 before falling to a low $16.12.

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

BNB/USD 27/05/20 Weekly Chart

For the remainder of the week

Binance Coin would need to move back through to $16.50 levels to support a run at the first major resistance level at $17.54.

Support from the broader market would be needed, however, for Binance Coin to breakout from Sunday’s current week high $16.81.

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, a visit to $18 levels could be on the cards before any pullback.

Failure to move back through to $16.50 levels could see Binance Coin slide deeper into the red.

A pullback through to sub-$16 and the current week low $15.73 would bring the first major support level at $15.43 into play.

Barring an extended crypto sell-off, however, Binance Coin should avoid a fall back to sub-$15 levels.

Looking at the Technical Indicators

Major Support Level: $15.43

Major Resistance Level: $17.54

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 – 24/05/20

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Binance Coin

Binance Coin rose by 2.62% in the week ending 23rd May. Partially reversing an 8.38% fall from the previous week, Binance Coin ended the week at $16.48.

A particularly bullish start to the week saw Binance Coin rally to a Wednesday intraweek high $17.55 before hitting reverse.

Falling short of the first major resistance level at $17.73, Binance Coin slid to a Thursday intraweek low $15.44.

In spite of a 4.87% slide on Thursday, Binance Coin steered clear of the first major support level at $14.02.

Finding support at the end of the week, a 3.18% rally on Friday reversed the mid-week losses to deliver the upside for the week.

Thursday’s slide had all but reversed 3 consecutive days in the green at the start of the week.

In spite of the late in the week recovery, however, Binance Coin failed to move back through to $17 levels. A pullback on Saturday pinned Binance Coin back.

For the week ahead

Binance Coin would need to break through to $17 levels to bring the first major resistance level at $17.54 into play.

Support from the broader market would be needed for Binance Coin to break back through to $17 levels.

Barring a broad-based crypto rally, the first major resistance level and last week’s high $17.55 would likely cap any upside.

In the event of a breakout, Binance Coin could test the second major resistance level at $18.60 before any pullback.

Failure to move back through to $17 levels could see Binance Coin struggle throughout the week.

A fall back through to sub-$16.50 levels would bring the first major support level at $15.43 into play.

Barring a crypto meltdown, however, Binance Coin should steer clear of sub-$15 and the second major support level at $14.38.

At the time of writing, Binance Coin was up by 0.78% to $16.61. A bullish start to the week saw Binance Coin rise from an early morning low $16.36 to a high $16.67.

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

BNB/USD 24/05/20 Weekly Chart

Litecoin

Litecoin rose by 1.57% in the week ending 23rd May. Partially reversing a 7.84% slide from the previous week, Litecoin ended the week at $43.89.

A bullish start to the week saw Litecoin rise to a Monday intraweek high $47.50 before easing back.

Litecoin broke through the first major resistance level at $47.07 before falling back to $44 levels.

Through the middle of the week, the downward trend continued, with 2 consecutive days in the red on Wednesday and Thursday.

The reversal saw Litecoin fall to a Thursday intraweek low $41.53 before finding support.

Steering clear of the first major support level at $39.41, Litecoin recovered with a 3.6% rally on Friday to return to $44 levels.

In spite of 3.39% and 3.42% falls mid-week, 4-days in the green delivered the upside for the week. A bearish end to the week limited the upside, however.

For the week ahead

Litecoin would need to move back through to $44.30 levels to support a run at the first major resistance level at $47.08.

Support from the broader market would be needed, however, for Litecoin to break back through to $47 levels.

Barring an extended crypto rally, the first major resistance level at $47.08 and last week’s high $47.50 would likely cap any upside.

Failure to move through to $44.30 levels could see Litecoin come under further pressure.

A fall back through to $43 levels would bring the first major support level at $41.11 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of the second major support level at $38.34.

At the time of writing, Litecoin was up by 0.43% to $44.08. A bullish start to the week saw Litecoin rise from an early morning low $43.74 to a high $44.19.

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

LTC/USD 24/05/20 Weekly Chart

Tron’s TRX

Tron’s TRX rose by 0.27% in the week ending 23rd May. Partially reversing a 6.79% slide from the previous week, Tron’s TRX ended the week at $0.014993.

It was a bullish start to the week, with Tron’s TRX seeing 3 consecutive days in the green before hitting reverse.

A Tuesday high $0.015590 saw Tron’s TRX fall short of the first major resistance level at $0.01634.

The reversal saw Tron’s TRX slide by 3.91% on Wednesday and by 4.91% on Thursday to a Thursday intraweek low $0.013882.

Steering clear of the first major support level at $0.01329, Tron’s TRX found support late in the week. A 4.10% rally on Friday and a 5th day in the green out of 7 on Saturday delivered the upside for the week.

A Saturday intraweek high $0.015629 came up short of the first major resistance level at $0.01634.

For the week ahead

Tron’s TRX would need to avoid sub-$0.01490 levels to support a run at the first major resistance level at $0.01579.

Support from the broader market would be needed, however, for Tron’s TRX to break out from last week’s high $0.015629.

Barring a broad-based crypto rally in the week, the first major resistance level at $0.01579 and last week’s high will likely cap any upside.

Failure to avoid sub-$0.01490 levels could see Tron’s TRX struggle throughout the week.

A fall back through to sub-$0.01490 levels would bring the first major support level at $0.01404 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of the second major support levels at $0.01309.

At the time of writing, Tron’s TRX was up by 0.05% to $0.015001. A range-bound start to the week saw Tron’s TRX rise from an early morning low $0.014971 to a high $0.015001.

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

TRX/USD 24/05/20 Weekly Chart

Ethereum is more Stable than Bitcoin

Crypto assets have become a vivid example of the statement ” What goes up, must come down” and time after time we are convinced of the validity of this phrase. Overcoming the threshold could have opened the way for testing price levels up to $10,500 in the near term, but buyers again lacked the strength. In 7 days Bitcoin shows a decline of almost 4%.

Altcoins moderately follow Bitcoin. The total capitalization in a day decreased by $10 bln. This cannot be called a large-scale sale, but there is a worsening of investor sentiment, which may result in increased sales pressure soon. The Crypto Fear & Greed Index after a 12-point growth over the week showed a daily decline of 3 points, which is a relatively accurate reflection of what is happening in the market.

While all the news was around halving and the likely prospects for Bitcoin after this event, the leading altcoin Ethereum (ETH) demonstrated quiet growth. Since the beginning of the year, Ethereum has grown by 61%, compared to 31% for Bitcoin in the same period. ETH usually follows the increase in Bitcoin, but in the end, it turns out that the coin adds more and loses less.

Favourable prospects for Ethereum are linked to the fact that its network is becoming increasingly active by launching decentralized financial applications (DeFi). ETH holders can block assets in DeFi smart contracts with different purposes, which reduces the circulation of coins, naturally creating an effect that is achieved in the bitcoin network by halving. Bitcoin maximalists do not see Ethereum as a threat, but there is no point in believing that a network after switching to 2.0 cannot be a worthy competitor to bitcoin.

Bitcoins mined at the very beginning of the network’s existence have long been at the centre of attention of the crypto community. The reaction to the transfer of 50 bitcoins, which have been motionless since 2009, has been decisively strong. These coins were received as a reward when the network had less than 100 transactions and only a few people, including Satoshi himself, were mining BTC. Such fund transfers now have a much higher response in the community than transfers of tens of thousands of bitcoins with fees less than a dollar. However, fast and cheap international transfers, bypassing numerous intermediaries, are precisely the direction that still needs to be developed and where the traditional sluggish banking system continues to hold the lead.

by Alex Kuptsikevich, the FxPro senior market analyst.

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

Apple iPhone and Binance logo, with dollars and cryptocurrency.

Binance Coin Price Resistance

It’s been a bullish 1st half of the week, with Binance Coin seeing 3 consecutive days in the green.

The bullish start to the week saw Binance Coin rally from a Sunday current week low $15.56 to a Tuesday current week high $17.50.

In spite of the 3 days in the green that included a 3.69% rally on Tuesday, however, Binance Coin came up short of the first major resistance level at $17.73.

Resistance at $17.50 pinned Binance Coin back in the 1st half of the week.

For the current week, Binance Coin was up by 7.29% to $17.23, Sunday through Tuesday.

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 26.23% 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 0.16% to $17.21. A mixed start to the day on Wednesday saw Binance Coin rise to an early morning high $17.44 before falling to a low $17.18.

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

BNB/USD 20/05/20 Weekly Chart

For the remainder of the week

Binance Coin would need to avoid sub-$17 levels to support another run at the first major resistance level at $17.73.

Support from the broader market would be needed, however, for Binance Coin to break out from the current week high $17.50.

Barring an extended crypto rally ahead of the weekend, the first major resistance level would likely leave $19 levels out of play.

In the event of a breakout, the 38.2% FIB of $19.4 and the second major resistance level at $19.39 would likely come into play.

Failure to avoid sub-$17 levels could see Binance Coin hit reverse.

A pullback through to sub-$15.70 levels would bring the first major support level at $14.02 into play.

Barring an extended crypto sell-off, however, Binance Coin should avoid a fall back to sub-$16 levels.

Looking at the Technical Indicators

Major Support Level: $14.02

Major Resistance Level: $17.73

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 – 17/05/20

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Binance Coin

 Binance Coin fell by 8.38% in the week ending 16th May. Following on from a 4.33% decline from the previous week, Binance Coin ended the week at $16.08.

A particularly bearish start to the week saw Binance Coin tumble by 8.46% on Sunday to an intraweek low $13.62.

Binance Coin slid through the first major support level at $15.32 before finding support to wrap up the day at $15 levels.

A 2nd consecutive day in the red saw Binance Coin fall back through the first major support level on Monday.

The fall back to $13 levels was brief, however, with Binance Coin finding support mid-week.

3 consecutive days in the green led to a Thursday intraweek high $17.33 before sliding back into the red.

Falling short of the first major resistance level at $19.49, Binance Coin took a 4.18% hit on Friday.

The pullback saw Binance Coin test the first major support level before making a partial recovery on Saturday.

For the week ahead

Binance Coin would need to break through to $17 levels to bring the first major resistance level at $17.73 into play.

Support from the broader market would be needed for Binance Coin to break out from last week’s high $17.33.

Barring a broad-based crypto rally, resistance at $17 would likely leave Binance Coin short of the first major resistance level at $17.73.

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

Failure to move back through to $17 levels could see Binance Coin struggle throughout the week.

A fall back through to sub-16 levels would bring the first major support level at $14.02 into play.

Barring a crypto meltdown, however, Binance Coin should steer clear of the second major support level at $11.97.

At the time of writing, Binance Coin was up by 0.77% to $16.20. A mixed start to the day saw Binance Coin fall to an early morning low $15.76 before striking a high $16.48.

Binance Coin left the major support and resistance levels untested in the early hours of Sunday morning.

BNB/USD 17/05/20 Weekly Chart

Litecoin

 Litecoin slid by 7.84% in the week ending 16th May. Following on from a 4.71% fall from the previous week, Litecoin ended the week at $43.27.

A particularly bearish start to the week saw Litecoin slide by 10.20% on Sunday and by 1.49% on Monday. The sell-off saw Litecoin fall from a Sunday intraweek high $47.00 to a Monday intraweek low $39.98.

Litecoin fell through the first major support level at $44.28 and second major support level at $41.61 before recovering to $41 levels.

Finding support mid-week, Litecoin saw green for 3 consecutive days to return to $44 levels before another pullback on Friday.

While falling back through the first major support level, Litecoin avoided the second major support level at $41.61.

A 4th day in the green on Saturday limited the downside for the week. Litecoin failed to break back through the first major support level, however.

For the week ahead

Litecoin would need to move back through to $44 levels to support a run at the first major resistance level at $47.07.

Support from the broader market would be needed, however, for Litecoin to break out from last week’s high $47.00.

Barring an extended crypto rally, the first major resistance level at $47.07 and last week’s high would likely cap any upside.

Failure to move through to $44 levels could see Litecoin come under further pressure.

A fall back through to $42 levels would bring the first major support level at $39.41 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of the second major support level at $35.54.

At the time of writing, Litecoin was up by 0.55% to $43.51. A bullish start to the week saw Litecoin rise from an early morning low $43.08 to a high $43.68.

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

LTC/USD 17/05/20 Daily Chart

Tron’s TRX/

 Tron’s TRX slid by 6.79% in the week ending 16th May. Following on from a 1.57% decline from the previous week, Tron’s TRX ended the week at $0.014962.

It was a particularly bearish start to the week. Tron’s TRX tumbled from a Sunday intraweek high 0.016052 to a Sunday intraweek low $0.013000.

The sell-off saw Tron’s TRX slide through the first major support level at $0.01529 and second major support level at $0.01445.

Finding support at the third major support level at $0.01294, Tron’s TRX recovered to $0.0144 levels before a 2nd sell-off on Monday.

A 2.26% fall saw Tron’s TRX fall back through the first and second major support levels before a mid-week rebound.

Three consecutive days in the green saw Tron’s TRX recover to a Thursday high $0.015417 before a Friday pullback.

While falling back through the first major support level, the second major support level at $0.01445 limited the downside.

Tracking the broader market, a bullish end to the week delivered a 4th day in the green to reduce the deficit for the week.

For the week ahead

Tron’s TRX would need to avoid sub-$0.01470 levels to support a run at the first major resistance level at $0.01634.

Support from the broader market would be needed, however, for Tron’s TRX to break out from last week’s high $0.016052.

Barring a broad-based crypto rally in the week, the first major resistance level at $0.01634 and last week’s high will likely cap any upside.

Failure to avoid sub-$0.01470 levels could see Tron’s TRX struggle throughout the week.

A fall back through to sub-$0.01470 levels would bring the first major support level at $0.01329 into play.

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

At the time of writing, Tron’s TRX was up by 0.33% to $0.015011. A relatively bullish start to the week saw Tron’s TRX rise from an early morning low $0.014941 to a high $0.015072 on Sunday.

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

TRX/USD 17/05/20 Weekly Chart

Binance Coin Mid-Week Analysis – Support Levels in Play – 13/05/20

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Binance Coin Price Support

It’s been a particularly bearish 1st half of the week, with Binance Coin seeing 2 consecutive days in the red before finding support on Tuesday.

Binance Coin tumbled from a Sunday current week high $17.02 to a Sunday current week low $13.62 before finding support.

The reversal saw Binance Coin fall through the first major support level at $15.28 and the second major support level at $13.77.

More significantly, Binance Coin fell through the 38.2% FIB of $14.40.

Finding support on Monday, Binance Coin broke back through the major support levels before sliding back to sub-$14 levels.

Support on Tuesday kicked in to limit the downside, though a visit to $16 levels was brief…

For the bulls, Binance Coin fell well short of the first major resistance level at $18.28.

In the current week, Binance Coin was down by 5.55% to $15.82, Sunday through Tuesday. An 8.46% tumble on Sunday coupled with a 1.68 loss did the damage. A 4.77% rally on Tuesday, did limit the downside, however.

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 15.90% 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 0.64% to $15.92. A bullish start to the day on Wednesday saw Binance Coin rise from an early morning low $15.61 to a high $16.07.

Binance Coin left the major support and resistance levels untested.

BNB/USD 13/05/20 Weekly Chart

For the remainder of the week

Binance Coin would need to move back through to $16.80 levels to support a run at the first major resistance level at $18.28.

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

Barring an extended crypto rally ahead of the weekend, the first major resistance level would likely leave $19 levels out of play.

In the event of a breakout, the 38.2% FIB of $19.4 would likely leave Binance Coin short of the second major resistance level at $19.77.

Failure to move back through to $16.80 could see Binance Coin fall deeper into the red.

A pullback through to the first major support level at $15.28 would bring the 23.6% FIB of $14.40 back into play.

Barring an extended crypto sell-off, however, Binance Coin should avoid a fall back through the second major support level at $13.77.

Looking at the Technical Indicators

Major Support Level: $15.28

Major Resistance Level: $18.28

23.6% FIB Retracement Level: $14.4

38.2% FIB Retracement Level: $19.4

62% FIB Retracement Level: $27.3

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

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

Bitcoin Grows, Knocking Down Obstacles One by One

bitcoin with us dollars and calculator

There are only 12 days left until the world’s most important crypto event. Halving-FOMO finally got the space to amplify its strength, and the digital currency market showed a rather impressive rally. The whole crypto market was comfortably in the green zone.

In the last 24 hours, the bitcoin grew by 16% or $1,300 and is trading around $9,200. The capitalization of the first cryptocurrency has increased by 16% or $24 billion with almost doubles the trade volumes over the last 24 hours. According to CoinMarketCap, this indicator reached a historical high at $71 billion compared to $20 billion on the price peak in 2017. In terms of investment opportunities, the market has grown dramatically.

Technical analysis is also on the bull’s side. From this point of view, the growth accelerated after reaching a level above the 50-day average. And the day before, the price crossed the 200-day average and fixed above it on Wednesday. The bulls may further target the February highs area at $10,400.

In a week, the first cryptocurrency shows a 30% growth. Ethereum (ETH), XRP, Bitcoin Cash (BCH) and Litecoin (LTC) rose by 21%, 22%, 16% and 19% in 7 days, respectively. Altcoins always follow the first coin, but this time it is worth noting XRP, which began to grow before the Bitcoin rally. The cryptocurrency has been under severe pressure over the last few years and started to get a boost from buyers because of its deficient historical price level. Although this does not mean that XRP won’t face increased pressure from short-term speculators, as the fundamental basis for growth remains weak.

The approaching halving is mainly causing positive vibrations in the crypto market, but as always, there are supporters and opponents. During the last 24 hours, we have seen the support of the buyers. However, some believe that halving is already in the price. From this point of view, halving is a reason for current buyers to take profit from the rally. At the moment, the cryptocurrency may face selling pressure from short-term speculators who bought it in March after the market crash, as well as from miners to cover operational risks.

by Alex Kuptsikevich, the FxPro senior financial analyst. 

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