Binance Coin Mid-Week Analysis – Support Levels in Play – 11/11/20

Apple iPhone and Binance logo, with dollars and cryptocurrency.

Binance Coin Price Support

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

A bullish start to the week saw Binance Coin rise to a Monday current week high of $29.06 before hitting reverse.

Falling well short of the first major resistance level at $31.32, Binance Coin slid to a Monday current week low of $27.24.

While steering clear of the first major support level at $24.56, Binance Coin fell through the 23.6% FIB of $27.5.

Finding support late in the day on Monday, Binance Coin broke back through the 23.6% FIB to end the day at $28 levels.

A relatively choppy Tuesday, following Monday’s recovery, saw Binance Coin fall back to a low $27.40 before ending the day at $28.2 levels. The 23.6% FIB of $27.5 limited the downside on the day.

For the current week, Sunday through Tuesday, Binance Coin was up by 1.58% to $28.23.

2 days in the green out of 3 that included a 2.39% gain on Sunday delivered the upside. A 1.26% fall on Monday, reduced some of the early gains, however.

The near-term bullish trend remained intact, supported by the latest rebound. For the bears, a fall through the 62% FIB of $17 would form a near-term bearish trend.

It has been a particularly bullish year in spite of a mid-year blip. Year-to-date, Binance Coin was up by 106.8%.

At the time of writing, Binance Coin was up by 0.85% to $28.47. A mixed start to the day saw Binance Coin fall to an early Wednesday $27.99 low before rising to a high of $28.77.

Binance Coin left the major support and resistance levels untested in the early part of Wednesday morning.

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For the remainder of the week

Binance Coin would need to avoid a fall back through the $28.09 pivot level to support a run at the first major resistance level at $31.32.

Support from the broader market would be needed, however, for Binance Coin to break back through to $30 levels.

Barring an extended crypto rally, resistance at $30 would likely leave Binance Coin short of the first major resistance level.

In the event of an extended breakout, however, the first major resistance level would likely cap any upside.

Failure to avoid a fall back through the $28.09 pivot level would bring the 23.6% FIB of $27.5 and the first major support level at $24.56 back into play.

Barring an extended sell-off going into the weekend, however, Binance Coin should avoid the 38.2% FIB of $23.50. The second major support level sits at $21.33.

Looking at the Technical Indicators

Major Support Level: $24.56

Major Resistance Level: $31.32

23.6% FIB Retracement Level: $27.5

38.2% FIB Retracement Level: $23.5

62% FIB Retracement Level: $17.00

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 08/11/20

crypto currency mining concept

Binance Coin

Binance Coin fell by 2.59% in the week ending 7th November. Following a 6.85% slide from the week prior, Binance Coin ended the week at $27.79.

It was a bearish start to the week. Binance Coin fell to a Wednesday low $25.21 before finding support.

The reversal saw Binance Coin fall through the 23.6% FIB of $27.5 and the first major support level at $26.12.

Finding support going at $25, Binance Coin struck a Thursday intraweek high $31.62 before hitting reverse again.

While falling short of the first major resistance level at $32.19, Binance Coin broke back through the 23.6% FIB.

A 2nd sell-off on Thursday, however, saw Binance Coin slide to a Thursday intraweek low $24.85 before finding support.

Binance Coin fell back through the 23.6% FIB and the first major support level before briefly revisiting $30 levels.

A bearish end to the week, however, left Binance Coin at sub-$28 at the end of the week.

4 days in the red that included a 3.32% fall on Tuesday and a 4.51% slide on Saturday left Binance Coin in the red. A 4.97% rally on Friday limited the downside, however.

For the week ahead

Binance Coin would need to avoid a fall through the $28.09 pivot to bring the first major resistance level at $31.32 into play.

Support from the broader market would be needed for Binance Coin to break out from $30 levels.

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

In the event of another crypto rally, could test the second major resistance level at $34.85.

Failure to avoid a fall through the $28.09 pivot would bring the 23.6% FIB of $27.50 and the first major support level at $24.56 into play.

Barring another crypto sell-off, Binance Coin should steer well clear of the 38.2% FIB of $23.50. The second major support level sits at $21.33.

At the time of writing, Binance Coin was up by 0.39% to $27.89. A mixed start to the week saw Binance Coin fall to an early Sunday morning low $27.39 before rising to a high $28.05.

Binance Coin left the major support and resistance levels untested at the start of the week. The 23.6% FIB of $27.5 did limit the downside early on, however.

BNB/USD 08/11/20 Daily Chart

Litecoin

Litecoin rallied by 5.67% in the week ending 7th November. Reversing a 5.76% slide from the previous week, Litecoin ended the week at $58.94.

It was a bearish start to the week. Litecoin fell to a Tuesday intraweek low $51.25 before making a move.

The reversal saw Litecoin fall through the first major support level at $51.77 before striking a Saturday intraweek high $64.87.

Litecoin broke through the 23.6% FIB of $54 and the first major resistance level at $60.40. Coming within range of the second major resistance level at $64.96, Litecoin fell back to end the week at sub-$59.

4 days in the green which included a 7.84% surge on Thursday and a 7.20% jump on Friday delivered the upside. A 6.87% tumble on Saturday pared some of the gains, however.

For the week ahead

Litecoin would need to avoid a fall through the $58.35 pivot to support a run at the first major resistance level at $65.46.

Support from the broader market would be needed, however, for Litecoin to break out from last week’s high $64.87.

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

In the event of a breakout, the 38.2% FIB of $71 and the second major resistance level at $71.97 would likely come into play.

Failure to avoid a fall through the $58.35 pivot would bring the 23.6% FIB of $54 and the first major support level at $51.84 into play.

Barring an extended crypto sell-off, however, Litecoin should steer well clear of sub-$50 levels. The second major support level sits at $44.73.

At the time of writing, Litecoin was up by 1.10% to $59.59. A mixed start to the week saw Litecoin fall to an early Sunday morning low $58.68 before striking a high $59.85.

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

LTC/USD 08/11/20 Daily Chart

Tron’s TRX

Tron’s TRX fell by 3.39% in the week ending 7th November. Following a 4.37% loss from the previous week, Tron’s TRX ended the week at $0.02493.

It was a bearish start to the week. Tron’s TRX fell to a Thursday intraweek low $0.02244.

Falling through the first major support level at $0.02402, Tron’s TRX found support at the second major support level at $0.02221.

Tron’s TRX bounced back to a Saturday intraweek high $0.027297 before sliding back into the red for the week

In spite of the early Saturday breakout, Tron’s TRX fell well short of the first major resistance level at $0.02817.

3 days in the red that included a 5.63% slide on Monday and a 4.87% fall on Saturday delivered the downside. A 3.11% gain on Thursday and a 4.95% rally on Friday limited the downside, however.

For the week ahead

Tron’s TRX would need to avoid a fall through the $0.02489 pivot to support a run at the first major resistance level at $0.02734.

Support from the broader market would be needed, however, for Tron’s TRX to breakout from last week’s high $0.027297.

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

In the event of an extended rally, the 23.6% FIB of $0.0291 and the second major resistance level at $0.02975 would likely come into play.

Failure to avoid a fall through the $0.02489 pivot would bring the first major support level at $0.02248 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer well clear of the second major support level at $0.02003.

At the time of writing, Tron’s TRX was up by 0.19% to $0.024977. A mixed start to the week saw Tron’s TRX fall to an early Sunday morning low $0.024594 before rising to a high $0.025056.

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

TRX/USD 08/11/20 Daily Chart

The Crypto Daily – Movers and Shakers – November 5th, 2020

Depositphotos_193678068_s-2019

Bitcoin, BTC to USD, rose by 0.85% on Wednesday. Following on from a 3.46% rally on Tuesday, Bitcoin ended the day at $14,149.0.

It was a mixed start to the day. Bitcoin fell to a mid-morning intraday low $13,530.0 before making a move.

Finding support at the first major support level at $13,532, Bitcoin rallied to a late intraday high $14,245.0.

Falling short of the first major resistance level at $14,297, Bitcoin eased back to end the day at sub-$14,200 levels.

The near-term bullish trend remained intact, supported by the latest move through to $14,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

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

Binance Coin (+0.32%), Cardano’s ADA (+1.90%), Chainlink (+0.77%), Ethereum (+3.82%), Litecoin (+1.31%), and Polkadot (+0.73%) joined Bitcoin in the green.

Bitcoin Cash ABC (-2.37%), Bitcoin Cash SV (-1.31%), Chainlink (-3.32%), Crypto.com Coin (-1.29%), and Ripple’s XRP (-0.76%) struggled on the day, however.

For the current week, the crypto total market cap fell to a Tuesday low $379.61bn before hitting a Wednesday high $410.85bn. At the time of writing, the total market cap stood at $405.07bn.

Bitcoin’s dominance fell to a Monday low 63.16% before rising to a Wednesday high 65.13%. At the time of writing, Bitcoin’s dominance stood at 64.77%.

This Morning

At the time of writing, Bitcoin was down by 0.02% to $14,146.0. A mixed start to the day saw Bitcoin rise to an early morning high $14,206.0 before falling to a low $14,140.0.

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

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV and Polkadot joined Bitcoin in the red, with losses of 0.53% and 0.42% respectively.

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

At the time of writing, Binance Coin was up by 1.06% to lead the way.

BTC/USD 05/11/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $13,975 to bring the first major resistance level at $14,419 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Wednesday’s high $14,245.0.

Barring an extended crypto rally, the first major resistance level and resistance at $14,500 would likely cap any upside.

In the event of another crypto breakout, Bitcoin could test the second major resistance level at $14,690.

Failure to avoid a fall through the $13,975 pivot would bring the first major support level at $13,704 into play.

Barring another extended crypto sell-off, Bitcoin should continue to steer clear of sub-$13,500 levels. The second major support level sits at $13,260.

Binance Coin Mid-Week Analysis – Support Levels in Play – 04/11/20

Shiny golden bitcoin in front of trading market data background. Warm glow on bitcoin.

Binance Coin Price Support

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

A mixed start to the week saw Binance Coin rise to a Monday current week high $29.74 before hitting reverse.

Falling well short of the first major resistance level at $32.19, Binance Coin slid to a Tuesday current week low $25.51.

Binance Coin fell through the 23.6% FIB of $27.5 and the first major support level at $26.12 before finding support.

A partial recovery late in the day on Tuesday saw Binance Coin break back through the first major support level.

For the current week, Sunday through Tuesday, Binance Coin was down by 5.81% to $26.90.

3 consecutive days in the red that included a 2.46% fall on Monday and a 3.32% slide on Tuesday delivered the downside early in the week.

The near-term bullish trend remained intact, supported by the latest rebound. For the bears, a fall through the 62% FIB of $17 would form a near-term bearish trend.

It has been a particularly bullish year in spite of a mid-year blip. Year-to-date, Binance Coin was up by 97.07%.

At the time of writing, Binance Coin was down by 0.82% to $26.68. A mixed start to the day on Wednesday saw Binance Coin rise to an early morning high $27.07 before falling to a low $26.44.

Binance Coin left the major support and resistance levels untested in the early part of Wednesday morning.

BNB/USD 04/11/20 Daily Chart

For the remainder of the week

Binance Coin would need to break back through the 23.6% FIB of $27.5 and the $29.75 pivot level to support a run at the first major resistance level at $32.19.

Support from the broader market would be needed, however, for Binance Coin to break back through to $30 levels.

Barring an extended crypto rally, resistance at $30 would likely leave Binance Coin short of the first major resistance level.

In the event of an extended breakout, however, the first major resistance level would likely cap any upside.

Failure to move back through the $29.75 pivot level would bring the first major support level at $26.12 and sub-$26 levels back into play.

Barring an extended sell-off going into the weekend, however, Binance Coin should avoid sub-$24 levels. The second major support level sits at $23.68.

Looking at the Technical Indicators

Major Support Level: $26.12

Major Resistance Level: $32.19

23.6% FIB Retracement Level: $27.5

38.2% FIB Retracement Level: $23.5

62% FIB Retracement Level: $17.00

The Crypto Daily – Movers and Shakers – November 3rd, 2020

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

Bitcoin, BTC to USD, fell by 1.40% on Monday. Following on from a 0.16% loss on Sunday, Bitcoin ended the day at $13,562.0.

It was a bullish start to the day. Bitcoin rose to an early morning intraday high $13,836.0 before hitting reverse.

Falling short of the first major resistance level at $13,895, Bitcoin slid to a mid-day intraday low $13,207.0.

Bitcoin fell through the first major support level at $13,614 and the second major support level at $13,472.

Steering clear of sub-$13,200 support levels, Bitcoin broke back through the support levels to briefly revisit $13,690 levels.

A bearish end to the day, however, saw Bitcoin fall back through the first major support level to sub-$13,600 levels.

The near-term bullish trend remained intact, supported by the latest move through to $14,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

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

Cardano’s ADA (-6.00%) and Chainlink (-6.74%) led the way down.

Bitcoin Cash ABC (-3.58%), Bitcoin Cash SV (-3.36%), Crypto.com Coin (-4.56%), Ethereum (-3.42%), Litecoin (-3.18%), Polkadot (-3.24%) also struggled.

Binance Coin (-2.46%) and Ripple’s XRP (-2.12%) saw relatively modest losses on the day.

For the current week, the crypto total market cap rose to a Monday high $404.65bn before falling to a Monday low $382.84bn. At the time of writing, the total market cap stood at $391.95bn.

Bitcoin’s dominance fell to a Monday low 63.16% before rising to a Tuesday high 64.07%. At the time of writing, Bitcoin’s dominance stood at 63.98%.

This Morning

At the time of writing, Bitcoin was down by 0.38% to $13,510.0. A mixed start to the day saw Bitcoin rise to an early morning high $13,571.0 before falling to a low $13,462.0.

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

Elsewhere, it was also a bearish start to the day for the majors.

At the time of writing, Crypto.com Coin was down by 3.19% to lead the way down.

BTC/USD 03/11/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the pivot level at $13,535 to bring the first major resistance level at $13,863 into play.

Support from the broader market would be needed, however, for Bitcoin to break back through to $13,800 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $13,836.0 would likely cap any upside.

In the event of another crypto breakout, Bitcoin could test resistance at $14,000 before any pullback. The second major resistance level sits at $14,164.

Failure to move through the $13,535 pivot would bring the first major support level at $13,234 into play.

Barring another extended crypto sell-off, Bitcoin should steer well of sub-$13,000 support levels. The second major support level sits at $12,906.

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 01/11/20

Depositphotos_193678068_s-2019

Binance Coin

Binance Coin slid by 6.85% in the week ending 31st October. Reversing a 1.42% gain from the week prior, Binance Coin ended the week at $28.55.

It was another choppy start to the week. Recovering from a 1.67% loss on Sunday, Binance Coin rose to a Tuesday intraweek high $33.39.

Binance Coin broke through the first major resistance level at $33.24 before sliding to a Friday intraweek low $27.32.

Falling through the 23.6% FIB of $27.50, Binance Coin found support at the first major support level at $27.29 to wrap up the day at $28.50 levels.

A bearish 2nd half of the week had seen Binance Coin fall for 3 consecutive days before steadying on Saturday.

4 days in the red that included a 3.64% fall on Wednesday and a 4.57% slide on Friday delivered the downside. A 3.03% rally on Monday, however, limited losses from the week.

For the week ahead

Binance Coin would need to move through the $29.75 pivot to bring the first major resistance level at $32.19 into play.

Support from the broader market would be needed for Binance Coin to break back through to $30 levels.

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

In the event of another crypto rally, could visit $35 levels and test the second major resistance level at $35.82.

Failure to move through the $29.75 pivot would bring the 23.6% FIB of $27.50 and the first major support level at $26.12 into play.

Barring another crypto sell-off, Binance Coin should steer well clear of the second major support level at $23.68 and the 38.2% FIB of $23.50.

At the time of writing, Binance Coin was down by 0.67% to $28.36. A mixed start to the week saw Binance Coin rise to an early Sunday high $28.75 before falling to a low $27.92.

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

BNB/USD 01/11/20 Daily Chart

Litecoin

Litecoin fell by 5.76% in the week ending 31st October. Partially reversing the 26.36% rally from the previous week, Litecoin ended the week at $55.83.

It was also a choppy start to the week. Litecoin fell to a Monday low $55.00 before making a move.

Steering clear of the first major support level at $50.61, Litecoin rallied to a Wednesday intraweek high $60.90 before hitting reverse.

Falling short of the first major resistance level at $63.83, Litecoin slid to a Friday intraweek low $52.27.

While continuing to steer clear of the major support levels, Litecoin fell through the 23.6% FIB of $54.00.

Finding support on Saturday, however, Litecoin broke back through the 23.6% FIB to wrap up the week at $55 levels.

5 days in the red which included a 3.36% slide on Sunday and a 3.96% fall on Wednesday delivered the losses. A 2.20% gain on Tuesday and a 3.18% rally on Saturday limited the downside, however.

For the week ahead

Litecoin would need to move through the $56.33 pivot to support a run at the first major resistance level at $60.40.

Support from the broader market would be needed, however, for Litecoin to break back through to $60 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $61 would likely limit any upside.

In the event of a breakout, the second major resistance level at $64.96 would likely come into play.

Failure to move through the $56.33 pivot would bring the 23.6% FIB of $54 and the first major support level at $51.77 into play.

Barring an extended crypto sell-off, however, Litecoin should continue to steer clear of sub-$50 levels. The second major support level sits at $47.70.

At the time of writing, Litecoin was down by 0.77% to $55.40. A mixed start to the week saw Litecoin rise to an early Sunday morning high $56.20 before falling to a low $55.13.

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

LTC/USD 01/11/20 Daily Chart

Tron’s TRX

Tron’s TRX fell by 4.37% in the week ending 31st October. Reversing a 5.29% rise from the previous week, Tron’s TRX ended the week at $0.025836.

It was a relatively choppy week for Tron’s TRX. Recovering from a fall to $0.025 levels, Tron’s TRX struck a Wednesday intraweek high $0.02870 before hitting reverse.

Falling short of the first major resistance level at $0.0300, Tron’s TRX fell to a Friday intraweek low $0.024963.

Continuing to steer clear of the first major support level at $0.02424, Tron’s TRX recovered to $0.025 levels to reduce the deficit for the week.

5 days in the red that included a 3.88% slide on Friday delivered the downside for the week.

For the week ahead

Tron’s TRX would need to move through the $0.02636 pivot to support a run at the first major resistance level at $0.02817.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.028 levels.

Barring a broad-based crypto rally, the first major resistance level and last week’s high $0.02870 would likely cap any upside.

In the event of an extended rally, the 23.6% FIB of $0.0291 and the second major resistance level at $0.03051 would likely come into play.

Failure to move through the $0.02636 pivot would bring the first major support level at $0.02402 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer well clear of the second major support level at $0.02221.

At the time of writing, Tron’s TRX was down by 0.55% to $0.025693. A mixed start to the week saw Tron’s TRX rise to an early Sunday high $0.026146 before falling to a low $0.025431.

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

TRX/USD 01/11/20 Daily Chart

The Crypto Daily – The Movers and Shakers – October 29th, 2020

bitcoin with us dollars and calculator

Bitcoin, BTC to USD, fell by 2.63% on Wednesday. Partially reversing a 4.34% rally from Tuesday, Bitcoin ended the day at $13,267.0

It was another bullish start to the day. Bitcoin rallied to an early morning intraday high $13,839.0 before hitting reverse.

Falling short of the first major resistance level at $13,912, Bitcoin slid to an early afternoon intraday low $12,915.0.

Bitcoin fell through the first major support level at $13,197 to visit sub-$13,000 before a partial recovery.

The partial recovery saw Bitcoin break back through the first major support level to wrap up the day at $13,260 levels.

The near-term bullish trend remained intact, supported by the latest move through to $13,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was another mixed day on Wednesday.

Bitcoin Cash ABC rose by 0.71% to buck the trend on the day.

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

Crypto.com Coin led the way down, sliding by 9.21%.

Ethereum (-4.22%), Litecoin (-4.02%), and Polkadot (-4.37%) also saw relatively heavy losses.

Binance Coin (-3.62%), Bitcoin Cash SV (-3.04%), Cardano’s ADA (-3.73%), Chainlink (-3.77%), and Ripple’s XRP (-2.84%) also struggled on the day.

In current the week, the crypto total rose to a Tuesday high $410,2bn before falling to a Wednesday low $377.65bn. At the time of writing, the total market cap stood at $390.91bn.

Bitcoin’s dominance fell to a Monday low 61.54% before rising to a Wednesday high 63.25%. At the time of writing, Bitcoin’s dominance stood at 62.93%.

This Morning

At the time of writing, Bitcoin was up by 0.05% to $13,273.0. A mixed start to the day saw Bitcoin fall to an early morning low $13,251.0 before rising to a high $13,303.0.

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

Elsewhere, it was a mixed start to the day.

Binance Coin (-0.20%) and Ripple’s XRP (-0.10%) bucked the trend early on.

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

At the time of writing, Litecoin was up by 0.41% to lead the way.

BTC/USD 29/10/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the pivot level at $13,340 to bring the first major resistance level at $13,766 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from $13,500 levels.

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

In the event of another crypto breakout, Bitcoin could test resistance at $14,000 before any pullback. The second major resistance level sits at $14,264.

Failure to move through the $13,340 pivot would bring the first major support level at $12,842 into play.

Barring another extended crypto sell-off, Bitcoin should steer well clear of sub-$12,700 levels. The second major support level sits at $12,416.

Binance Coin Mid-Week Analysis – Resistance Levels in Play – 28/10/20

Apple iPhone and Binance logo, with dollars and cryptocurrency.

Binance Coin Price Resistance

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

It was a mixed start to the week, however. Binance Coin fell to a Monday current week low $29.38 before making a move.

Steering clear of the 23.6% FIB of $27.5 and the first major support level at $27.29, Binance Coin struck a Tuesday intraweek high $33.39.

Binance Coin broke through the first major resistance level at $33.24, before falling back to sub-$32 levels.

For the current week, Sunday through Tuesday, Binance Coin was up by 2.77% to $31.50.

2 consecutive days in the green that included a 3.03% gain on Monday delivered the upside early in the week.

The near-term bullish trend remained intact, supported by the latest rebound. For the bears, a fall through the 62% FIB of $17 would form a near-term bearish trend.

It has been a particularly bullish year in spite of a mid-year blip. Year-to-date, Binance Coin was up by 130.7%.

At the time of writing, Binance Coin was up by 0.62% to $31.70. A mixed start to the day on Wednesday saw Binance Coin fall to an early morning low $31.34 before rising to a high $31.88.

Binance Coin left the major support and resistance levels untested in the early part of Wednesday morning.

BNB/USD 28/10/20 Daily Chart

For the remainder of the week

Binance Coin would need to avoid a fall back through the $29.86 pivot level to support another run at the first major resistance level at $33.24.

Support from the broader market would be needed, however, for Binance Coin to break back through to $33 levels.

Barring an extended crypto rally, the first major resistance level and the current week high $33.39 would likely limit any upside.

In the event of an extended breakout, Binance Coin could test resistance at $35 before any pullback. The second major resistance level sits at $35.81.

Failure to avoid a fall back through the $29.86 pivot level would bring the 23.6% FIB of $27.5 and the first major support level at $27.29 into play.

Barring an extended sell-off going into the weekend, however, Binance Coin should avoid sub-$28 levels.

Looking at the Technical Indicators

Major Support Level: $27.29

Major Resistance Level: $33.24

23.6% FIB Retracement Level: $27.5

38.2% FIB Retracement Level: $23.5

62% FIB Retracement Level: $17.00

The Crypto Daily – Movers and Shakers – October 27th, 2020

Closeup hand holding bitcoin over the Cryptocurrency trading scr

Bitcoin, BTC to USD, rose by 0.18% on Monday. Partially reversing a 0.69% decline from Sunday, Bitcoin ended the day at $13,059.0.

A relatively bullish start to the day saw Bitcoin rise to an early afternoon intraday high $13,244.0 before hitting reverse.

Falling short of the first major resistance level at $13,313, Bitcoin slid to a late afternoon intraday low $12,781.0.

Bitcoin fell through the first major support level at $12,805 before a late recovery to $13,000 levels.

The near-term bullish trend remained intact, supported by the latest move through to $13,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

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

Binance Coin (+3.02%) and Polkadot (+8.52%) found support to buck the trend on the day.

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

Bitcoin Cash ABC (-4.29%), Bitcoin Cash SV (-3.85%), Cardano’s ADA (-3.12%), Ethereum (-3.25%), and Litecoin (-3.38%) led the way down.

Chainlink (-2.99%), Crypto.com Coin (-2.43%), and Ripple’s XRP (-1.87%) saw relatively modest losses.

In the current week, the crypto total rose to a Monday  $398.91bn high before falling to a low $378.21bn. At the time of writing, the total market cap stood at $389.81bn.

Bitcoin’s dominance fell to a Monday low of 61.54% before rising to a Monday high 62.57%. At the time of writing, Bitcoin’s dominance stood at 62.25%.

This Morning

At the time of writing, Bitcoin was up by 0.24% to $13,090.0. A mixed start to the day saw Bitcoin fall to an early morning $13,054.0 low before rising to a $13,134.0 high.

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

Elsewhere, it was a mixed start to the day, with Crypto.com Coin falling by 0.10% to buck the trend.

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

At the time of writing, Polkadot (+2.27%), Chainlink (+1.82%), and Binance Coin (+1.45%) led the way.

BTC/USD 27/10/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $13,028 to bring the first major resistance level at $13,275 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Monday’s $13,244.0 high.

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

In the event of another crypto breakout, Bitcoin could test resistance at $13,500 before any pullback. The second major resistance level sits at $13,491.

Failure to avoid a fall through the $13,028 pivot would bring the first major support level at $12,812 into play.

Barring an extended crypto sell-off, Bitcoin should steer well clear of sub-$12,700 levels. The second major support level sits at $12,565.

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 25/10/20

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

Binance Coin

Binance Coin rose by 1.42% in the week ending 24th October. Following on from a 6.48% from the week prior, Binance Coin ended the week at $30.67.

It was a choppy start to the week. Binance Coin rose to a Monday high $31.55 before falling to a Wednesday intraweek low $26.48.

Falling short of the resistance levels, Binance Coin fell through the first major support level at $27.94.

More significantly, Binance Coin also fell through the 23.6% FIB of $27.5 before striking a Wednesday intraweek high $32.43.

Coming up against the first major resistance level at $32.41, Binance Coin eased back to end the week at sub-$31 levels.

5 days in the green that included a 3.20% rally on Wednesday delivered the upside. A 3.65% slide on Tuesday, however, limited gains from the week.

For the week ahead

Binance Coin would need to avoid a fall through the $29.86 pivot to bring the first major resistance level at $33.24 into play.

Support from the broader market would be needed for Binance Coin to break out from last week’s high $32.43.

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

In the event of another crypto rally, could visit $35 levels and test the second major resistance level at $35.81.

Failure to avoid a fall through the $29.86 pivot would bring the first major support level at $27.29 and the 23.6% FIB of $27.5 into play.

Barring a crypto sell-off, Binance Coin should steer well clear of sub-$25 levels. The second major support level sits at $23.91.

At the time of writing, Binance Coin was up by 0.11% to $30.71. A mixed start to the week saw Binance Coin fall to an early Sunday morning low $30.49 before striking a high $30.78.

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

BNB/USD 25/10/20 Weekly Chart

Litecoin

Litecoin rallied by 26.36% in the week ending 24th October. Reversing a 3.95% slide from the previous week, Litecoin ended the week at $59.30.

It was a bullish start to the week. Litecoin rose to a Monday high $48.48 before hitting reverse.

Falling short of the first major resistance level at $50.44, Litecoin slid to a Tuesday intraweek low $46.45.

Steering clear of the first major support level at $44.53, Litecoin rallied to a Saturday intraweek high $59.67.

Litecoin broke through the first major resistance level at $50.44 and the second major resistance level at $53.95.

More significantly, Litecoin also broke through the 23.6% FIB of $54 come within range of the third major resistance level at $59.86.

6 days in the green which included a 13.14% breakout on Wednesday delivered the upside for the week. A 2.21% fall on Tuesday was the only blemish in the week.

For the week ahead

Litecoin would need to avoid a fall through the $55.14 pivot to support a run at the first major resistance level at $63.83.

Support from the broader market would be needed, however, for Litecoin to break out from last week’s high $59.67.

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

In the event of a breakout, the second major resistance level at $68.36 would likely come into play.

Failure to avoid a fall through the $55.14 pivot would bring the 23.6% FIB of $54 and the first major support level at $50.61 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$50 levels. The second major support level sits at $41.92.

At the time of writing, Litecoin was down by 0.99% to $58.71. A Bearish start to the week saw Litecoin fall from an early Sunday high $59.24 to a low $57.82.

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

LTC/USD 25/10/20 Daily Chart

Tron’s TRX

Tron’s TRX rose by 5.29% in the week ending 24th October. Reversing a 2.44% decline from the previous week, Tron’s TRX ended the week at $0.02716.

A mixed start to the week saw Tron’s TRX fall to a Wednesday intraweek low $0.024155 before making a move.

Tron’s TRX fell through the first major support level at $0.02458 before striking a Wednesday intraweek high $0.029911.

The breakout saw Tron’s TRX move through the 23.6% FIB of $0.0291 and the first major resistance level at $0.02982.

A pullback from the week high, however, saw Tron’s TRX fall back to $0.0260 levels before closing out the week at $0.027 levels. The first major resistance level at $0.02765 pinned Tron’s TRX back late in the week.

5 days in the green that included a 3.44% rise on Wednesday delivered the upside for the week. A 1.75% fall on Friday limited the upside, however.

For the week ahead

Tron’s TRX would need to move back through the $0.02708 pivot to support a run at the 23.6% FIB of $0.0291 and the first major resistance level at $0.0300.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.02980 levels.

Barring a broad-based crypto rally, the first major resistance level and last week’s high $0.029911 would likely cap any upside.

In the event of an extended rally, the second major resistance level at $0.03283 would likely come into play.

Failure to move back through the $0.02708 pivot would bring the first major support level at $0.02424 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer well clear of the second major support level at $0.02132.

At the time of writing, Tron’s TRX was down by 0.32% to 0.027076. A mixed start to the week saw Tron’s TRX fall to an early Sunday morning low $0.02681 before rising to a high $0.02721.

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

TRX/USD 25/10/20 Daily Chart