Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 05/04/20

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Binance Coin

Binance Coin rallied by 12.64% in the week ending 4th April. Following on from a 0.74% gain from the previous week, Binance Coin ended the week at $13.81.

A bearish start to the week saw Binance Coin slide by 7.59% last Sunday, leading to a Monday intraweek low $11.03.

Steering well clear of the first major support level at $10.69, Binance Coin rallied to a Saturday intraweek high $14.24.

6 consecutive days in the green that included a 7.83% rebound on Monday delivered the upside for the week.

For the week ahead

Binance Coin would need to break back through to $14 levels to bring the first major resistance level at $15.02 into play.

Support from the broader market would be needed for Binance Coin to break out from the 23.6% FIB of $14.4.

Barring a broad-based crypto rally, the first major resistance level at $15.02 would likely cap any upside.

In the event of a breakout, Binance Coin could test resistance at $16 before any pullback.

Failure to move back through to $14 levels could see Binance Coin struggle in the week.

A fall back through to sub-$13 levels would bring the first major support level at $11.81 into play

Barring another crypto meltdown, however, Binance Coin should steer clear of sub-$12 levels.

At the time of writing, Binance Coin was up by 0.61% to $13.90. A bullish start to the week on Sunday saw Binance Coin rise from an early morning low $13.64 to a high $14.09 before easing back.

BNB/USD 05/04/20 Weekly Chart

Litecoin

Litecoin rose by 4.93% in the week ending 4th April. Following on from a 1.35% gain from the previous week, Litecoin ended the week at $40.85.

A bearish start to the week saw Litecoin slide by 4.63% last Sunday, leading to a Sunday intraweek low $37.01 before finding support.

Steering clear of the first major support level at $35.14, Litecoin bounced back to a Thursday intraweek high $43.00.

Litecoin broke through the first major resistance level at $42.06 before easing back.

6 consecutive days in the green delivered the upside in the week.

For the week ahead

Litecoin would need to steer clear of sub-$40.30 levels to support a run at the first major resistance level at $43.56.

Support from the broader market would be needed, however, for Litecoin to break out from last week’s high $43.00.

Barring an extended crypto rally, the first major resistance at $43.56 would likely limit any upside in the week.

Failure to steer clear of sub-$40.30 levels could see Litecoin come under further pressure.

A fall back through to sub-$40 levels would bring the first major support level at $37.57 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$37 support levels.

At the time of writing, Litecoin was up by 0.24% to $40.95. A mixed start to the day saw Litecoin rise to an early morning high $41.11 before falling to a low $40.63.

LTC/USD 05/04/20 Weekly Chart

Tron’s TRX

Tron’s TRX rose by 5.59% in the week ending 4th April. Following on from a 2.01% gain from the previous week, Tron’s TRX ended the week at $0.01204.

Tracking the broader market, Tron’s TRX fell by 6.45% on Sunday, leading to a Monday intraweek low $0.010672.

Steering clear of the first major support level at $0.01032, Tron’s TRX rallied to a Thursday intraweek high $0.012626.

Tron’s TRX broke through the first major resistance level at $0.01234 before easing back to sub-$0.012 levels. A bullish end to the week saw Tron’s TRX wrap up the week at $0.012 levels.

6 consecutive days in the green reversed last Sunday’s pullback that included a 7.45% Monday rebound delivered the weekly gain.

For the week ahead

Tron’s TRX would need to steer clear of sub-$0.01180 levels to support a run at the first major resistance level at $0.01289.

Support from the broader market would be needed, however, for Tron’s TRX to break out from last week’s high $0.012626.

Barring an extended crypto rally in the week, the first major resistance level at $0.012626 should leave Tron’s TRX short of $0.013 levels.

Failure to steer clear of sub-$0.01180 levels could see Tron’s TRX struggle in the week.

A fall back through to sub-$0.01180 levels would bring the first major support level at $0.01093 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer well clear of sub-$0.010 levels.

At the time of writing, Tron’s TRX was down by 0.27% to $0.012008. A mixed start to the day saw Tron’s TRX rise from an early morning low $0.012008 to a high $0.012080 before falling back to the low.

TRX/USD 05/04/20 Weekly Chart

The Crypto Daily – Movers and Shakers -02/04/20

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Bitcoin rallied by 3.83% on Wednesday. Following on from a 0.31% gain on Tuesday, Bitcoin ended the day at $6,675.0.

A bearish start to the day saw Bitcoin slide to a late afternoon intraday low $6,180.0 before making a move.

Bitcoin fell through the first major support level at $6,339.6 and the second major support level at $6,251.5.

Of greater significance was a fall through the 23.6% FIB of $6,300 before rallying to a final hour intraday high $6,726.5.

Bitcoin broke back through the major support levels and 23.6% FIB before breaking through the first major resistance level at $6,525.9 and the second major resistance level at $6,624.1.

In spite of a late pullback to sub-$6,700, Bitcoin held above the second major resistance level.

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

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

The Rest of the Pack

Across the rest of the majors, it was also a bullish start to the quarter.

Bitcoin Cash ABC (+2.26%), EOS (+2.42%), and Ethereum (+2.30%) led the way on Wednesday.

Binance Coin (+1.51%), Bitcoin Cash SV (+1.46%), Cardano’s ADA (+1.73%), Monero’s XMR (+1.50%), Ripple’s XRP (+1.10%), and Stellar’s Lumen (+1.40%) also found late support.

Litecoin (+0.33%), Tezos (+0.01%), and Tron’s TRX (+0.36%) trailed the pack on the day.

Through the current week, the crypto total market cap rose from a Monday low $168.04bn to $185bn levels on Thursday. At the time of writing, the total market cap stood at $185.66bn.

Bitcoin’s dominance eased back to sub-65% levels following Tuesday’s modest gain before bouncing back on Wednesday. At the time of writing, Bitcoin’s dominance stood at 65.4%.

24-hour trading volumes recovered from sub-$100bn levels on Sunday to hit $127bn levels on Thursday. At the time of writing, 24-hr volumes stood at $127.19bn.

This Morning

At the time of writing, Bitcoin was down by 0.45% to $6,644.9. A mixed start to the day saw Bitcoin rise to an early morning high $6,770.0 before falling to a low $6,619.4.

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

Elsewhere, it was a mixed start to the day.

Binance Coin (-0.52%), Bitcoin Cash SV (-0.03%), Monero’s XMR (-0.21%), and Stellar’s Lumen (-0.57%) joined Bitcoin in the red.

EOS and Ethereum found strong support early on, both with gains of 0.79%, to lead the way.

BTC/USD 02/04/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through to $6,700 levels to bring the first major resistance level at $6,874.33 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $6,770.0.

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

Failure to move back through to $6,700 levels could see Bitcoin fall deeper into the red.

A fall back through to sub-$6,520 levels would bring the second major support level at $6,327.83 back into play.

Barring an extended crypto sell-off, however, Bitcoin should continue to steer of sub-$6,000 levels. The 23.6% FIB of $6,300 should limit any downside on the day.

Binance Coin Mid-Week Analysis – Resistance Levels in Play – 01/04/20

Apple iPhone and Binance logo, with dollars and cryptocurrency.

Binance Coin Price Support

It was yet another choppy start to the week. Binance Coin fell to a Monday current week low $11.03 before finding support.

Steering clear of the first major support level at $10.69, Binance Coin struck a Monday current week high $12.85.

Falling well short of the first major resistance level at $13.64, Binance Coin eased back to sub-$12 levels.

Support in the week, however, prevented a slide back to the current week low. 2 consecutive days in the green reversed a 7.59% slide on Sunday.

For the current week, Sunday through Tuesday, Binance Coin was up by 2.45% to $12.56.

The near-term bearish trend remained intact, however, supported by the late 2019 reversal and last week’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, with Binance Coin was down by 7.99% year-to-date.

The 1st quarter slide came from a 34.72% tumble in March, with Binance Coin sitting well below a current year high $27.51.

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 0.13% to $12.58. A mixed start to the day on Wednesday saw Binance Coin slide to an early morning low $12.14 before striking a high $12.73.

Binance Coin continued to steer well clear of the major support and resistance levels.

BNB/USD 01/04/20 Weekly Chart

For the remainder of the week

Binance Coin would need to break back through the current week high $12.85 to support another run at the first major resistance level at $13.64 into play.

Support from the broader market would be needed, however, for Binance Coin to break back through last week’s high $13.54.

Barring a broad-based crypto rally ahead of the weekend, resistance at $13.5 would likely continue to cap any upside.

In the event of a breakout, Binance Coin could test resistance at $14 before any pullback.

Failure to move back through the current week high $12.85 could see Binance Coin hit reverse.

A pullback through to sub-$12.10 levels would bring the first major support level at $10.69 into play.

Barring an extended crypto meltdown, however, Binance Coin should steer well clear of sub-$10.00 support levels.

Looking at the Technical Indicators

Major Support Level: $10.69

Major Resistance Level: $13.64

23.6% FIB Retracement Level: $18.8

38.2% FIB Retracement Level: $22.9

62% FIB Retracement Level: $29.5

The Crypto Daily – Movers and Shakers -31/03/20

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Bitcoin rallied by 8.74% on Monday. Reversing a 5.71% slide from Sunday, Bitcoin ended the day at $6,407.6.

Bullish throughout the day, Bitcoin rallied from an early morning intraday low $5,880.9 to a late intraday high $6,636.0.

Bitcoin broke through the first major resistance level at $6,150.93 and the second major resistance level at $6,409.17.

Of greater significance, however, was a breakthrough and hold above the 23.6% FIB of $6,300.

A late pullback limited the upside on the day, however.

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

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

The Rest of the Pack

Across the rest of the majors, it was also a bullish start the week.

Bitcoin Cash SV and Tezos led the way, surging by 12.88% and by 9.83% respectively.

Binance Coin (+7.79%), Bitcoin Cash ABC (+7.09%), Cardano’s ADA (+6.03%), Ethereum (+6.34%), Stellar’s Lumen (+6.03%), and Tron’s TRX (+7.55%) also found strong support.

EOS (+5.27%), Litecoin (+5.09%), Monero’s XMR (+5.79%), and ripple’s XRP (+5.22%) trailed the pack.

Through the start of the week, the crypto total market cap rose from a Monday low $168.04bn to a Tuesday high $182.23bn. At the time of writing, the total market cap stood at $181.21bn.

Bitcoin’s dominance continued to sit at sub-66% levels following last week’s pullback. At the time of writing, Bitcoin’s dominance stood at 65.3%.

24-hour trading volumes recovered from sub-$100bn levels seen on Sunday to hit $121bn levels on Tuesday morning. At the time of writing, 24-hr volumes stood at $120.91bn.

This Morning

At the time of writing, Bitcoin was up 1.07% to $6,476.0. A bullish start to the day saw Bitcoin rise from an early morning low $6,407.6 to a high $6,536.0.

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

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

Bitcoin Cash ABC (-0.91%), EOS (-0.27%), Litecoin (-0.18%), Tezos (-0.49%), and Tron’ TRX (-0.41%) saw red early on.

Binance Coin (+1.07%), Bitcoin Cash SV (+0.57%), Cardano’s ADA (+0.70%), Ethereum (+0.45%), Monero’s XMR (+0.45%), Ripple’s XRP (+0.73%), and Stellar’s Lumen (+0.71%) joined Bitcoin in the green.

BTC/USD 31/03/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through to $6,500 levels to bring the first major resistance level at $6,735.43 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Monday’s high $6,636.0.

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

Failure to move back through to $6,500 levels could see Bitcoin hit reverse.

A fall back through to the morning low to sub-$6,310 levels would bring the first major support level at $5,890.33 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$6,00 levels. The 23.6% FIB of $6,300 should limit any downside.

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 29/03/20

Bitcoin and Litecoin over dollar banknotes.

Binance Coin

Binance Coin rose by 0.74% in the week ending 28th March. Following on from a 19.45% rally from the previous week, Binance Coin ended the week at $12.21.

A bearish start to the week saw Binance Coin slide by 7.8% on Sunday, leading to a Monday intraweek low $10.59.

Steering well clear of the first major support level at $8.73, Binance Coin rallied to a Friday intraweek high $13.54.

A 9.66% rebound on Monday and 7.24% rally on Thursday drove Binance Coin to the week high before hitting reverse.

2-consecutive days in the red on Friday and Saturday, including a 6.6% loss on Friday, cut the gains for the week.

For the week ahead

Binance Coin would need to break back through to $13 levels to bring the first major resistance level at $13.64 into play.

Support from the broader market would be needed for Binance Coin to break out from last week’s high $13.54.

Barring a broad-based crypto rally, the first major resistance level at $13.64 would likely cap any upside.

In the event of a breakout, resistance at $14 would likely leave Binance Coin short of the 23.6% FIB of $14.4.

Failure to move back through to $13 levels could see Binance Coin struggle in the week.

A fall back through to sub-$12.1 levels would bring the first major support level at $10.69 into play

Barring another crypto meltdown, however, Binance Coin should steer clear of sub-$10 levels.

At the time of writing, Binance Coin was down by 1.23% to $12.06. A Bearish start to the week saw Binance Coin fall from a Sunday morning high $12.30 to a low $12.01.

BNB/USD 29/03/20 Weekly Chart

Litecoin

Litecoin rose by 1.35% in the week ending 28th March. Following on from an 11.57% rally from the previous week, Litecoin ended the week at $38.91.

A bearish start to the week saw Litecoin slide by 7.66% on Sunday, leading to a Monday intraweek low $34.51.

Steering clear of the first major support level at $30.38, Litecoin bounced back to a Friday intraweek high $41.43.

The upside came off the back of a 10.35% rally on Monday.

A choppy end to the week, however, saw Litecoin fall back to sub-$40 levels, with a 6% slide on Friday limiting the upside in the week.

Litecoin had fallen well short of the first major resistance level at $45.18 on Friday before the pullback.

For the week ahead

Litecoin would need to move back through to $40 levels to support a run at the first major resistance level at $42.06.

Support from the broader market would be needed, however, for Litecoin to break out from last week’s high $41.43.

Barring an extended crypto rally, the first major resistance at $42.06 would likely limit any upside in the week.

Failure to move back through to $40 levels could see Litecoin come under further pressure.

A fall back through to sub-$38 levels would bring the first major support level at $35.14 into play.

Barring a crypto meltdown, however, Litecoin should steer clear of sub-$30 levels. The second major support level at $31.36 should limit any downside in the week.

At the time of writing, Litecoin was down by 0.75% to $38.62. A bearish start to the week saw Litecoin fall from an early morning high $39.19 to a low $38.35.

LTC/USD 29/03/20 Weekly Chart

Tron’s TRX

Tron’s TRX rose by 2.01% in the week ending 28th March. Following on from a 15.45% rally from the previous week, Tron’s TRX ended the week at $0.011448.

Tracking the broader market, Tron’s TRX fell by 8.67% on Sunday, leading to a Monday intraweek low $0.01009.

Steering clear of the first major support level at $0.00893, Tron’s TRX rallied to a Friday intraweek high $0.012107, supported by a 10.58% rebound on Monday.

Falling short of the first major resistance level at $0.01316, Tron’s TRX fell back to sub-$0.011 levels before finding late support.

A 6.06% slide on Friday limited the upside in the week.

For the week ahead

Tron’s TRX would need to move back through to $0.012 levels to support a run at the first major resistance level at $0.01234.

Support from the broader market would be needed, however, for Tron’s TRX to break back out from last week’s high $0.012107.

Barring an extended crypto rally in the week, the first major resistance level at $0.01234 should cap any upside.

Failure to move through to $0.012 levels could see Tron’s TRX struggle in the week.

A fall back through to sub-$0.01122 levels would bring the first major support level at $0.01032 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of sub-$0.0090 levels. The second major support level at $0.00920 should limit any downside.

At the time of writing, Tron’s TRX was down by 1.41% to $0.011287. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.011403 to a low $0.011274.

TRX/USD 29/03/20 Weekly Chart

The Crypto Daily – Movers and Shakers -26/03/20

Bitcoin and Litecoin over dollar banknotes.

Bitcoin fell by 1.09% on Wednesday. Partially reversing a 4.2% gain from Tuesday, Bitcoin ended the day at $6,688.2

A choppy start to the day saw Bitcoin rally to a mid-morning intraday high $6,968.0 before hitting reverse.

Bitcoin broke through the first major resistance level at $6,932.73 before sliding to a late morning intraday low $6,430.2.

The sell-off saw Bitcoin fall through the first major support level at $6,498.73 before finding support.

Bitcoin recovered to $6,700 levels in the early afternoon before falling back to $6,500 levels.

Support late on led to recovery to $6,600 levels, however, to limit the loss on the day.

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

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

The Rest of the Pack

Across the rest of the top 10 cryptos, it was a mixed day for the majors.

Stellar’s Lumen bucked the trend with a 0.47% gain on Wednesday.

It was bearish for the rest of the pack, however. Litecoin and Bitcoin Cash SV slid by 3.59% and 3.26% to lead the way down.

Bitcoin Cash ABC (-2.48%), Cardano’s ADA (-2.89%), EOS (-2.08%), and Tezos (-2.95%) also saw relatively heavy losses.

Binance Coin (-0.88%), Monero’s XMR (-0.40%), Ripple’s XRP (-0.51%), and Tron’s TRX (-0.39%) saw modest losses on the day.

Through the current week, the crypto total market cap rose from a Monday low $163.00bn to a Wednesday high $191.26bn. At the time of writing, the total market cap stood at $185.44bn.

Bitcoin’s dominance hit 66% levels on Monday before falling to 62% levels. Bitcoin saw its dominance recover, however, to hover at around the 66% mark mid-week. At the time of writing, Bitcoin’s dominance stood at 66.1%.

Trading volumes jumped from $130bn levels on Monday to $168.2bn levels on Tuesday before easing back. At the time of writing, 24-hr volumes stood at $135.61bn.

This Morning

At the time of writing, Bitcoin was down by 2.79% to $6,573.5. A bullish start to the day saw Bitcoin rise to an early morning high $6,790.8 before falling to a low $6,668.4.

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

Elsewhere, it was a mixed start to the day. Bitcoin Cash SV and Ripple’s XRP saw red early on, with losses of 0.165 and 0.57% respectively.

It was a bullish start to the day for the rest of the pack, however, with Monero’s XMR up by 2.29% to lead the way.

BTC/USD 26/03/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through to $6,700 levels to support a run at the first major resistance level at $6,960.73.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $6,790.8.

Barring a broad-based crypto rally, resistance at $6,800 would likely leave Bitcoin short of the first major resistance level.

Failure to move back through to $6,700 levels could see Bitcoin hit reverse.

A fall back through the morning low $6,668.4 would bring the first major support level at $6,422.93 into play.

Barring a broad-based crypto sell-off, however, Bitcoin should continue to steer clear of the 23.6% FIB of $6,300.

Binance Coin Mid-Week Analysis – Support Levels in Play – 25/03/20

Apple iPhone and Binance logo, with dollars and cryptocurrency.

Binance Coin Price Support

It was yet another choppy start to the week. Binance Coin rose to a Sunday high $12.53 before hitting reverse.

Falling well short of the major resistance levels, Binance Coin slid to an early Monday current week low $10.59.

In spite of a 7.88% slide on Sunday, Binance Coin steered clear of the first major support level at $8.73.

Finding support on Monday, Binance Coin bounced back from the early low to strike a Tuesday current week high $12.99.

In spite of a 9.66% rally on Monday, Binance Coin came up short of the first major resistance level at $14.94.

While easing back from $12.9 levels, Binance Coin held onto $12 levels going into the mid-week sessions.

For the current week, Sunday through Tuesday, Binance Coin was up by just 2.89%.

The near-term bearish trend remained intact, however, supported by the late 2019 reversal and a March 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, with Binance Coin was down by 8.64% 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 1.75% to $12.25. A bearish start to the day on Wednesday saw Binance Coin fall from an early morning high $12.57 to a low $12.17.

Binance Coin continued to steer well clear of the major support and resistance levels.

BNB/USD 25/03/20 Weekly Chart

For the remainder of the week

Binance Coin would need to break back through the current week high $12.99 to support another run at the first major resistance level at $14.94 into play.

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

Barring a broad-based crypto rally ahead of the weekend, resistance at $13 would likely continue to cap any upside.

In the event of a breakout, Binance Coin could test resistance at $14 before any pullback.

We would expect Binance Coin to come up short of the 23.6% FIB of $14.4, however.

Failure to move back through the current week high $12.99 could see Binance Coin hit reverse.

A pullback through to sub-$11.56 levels would bring sub-$10 levels into play before any recovery.

Barring an extended crypto meltdown, however, Binance Coin should steer well clear of the first major support level at $8.73.

Looking at the Technical Indicators

Major Support Level: $8.73

Major Resistance Level: $14.94

23.6% FIB Retracement Level: $18.8

38.2% FIB Retracement Level: $22.9

62% FIB Retracement Level: $29.5

The Crypto Daily – Movers and Shakers -24/03/20

Cryptomania

Bitcoin rallied by 11.54% on Monday. Reversing a 6.15% slide from Sunday, Bitcoin ended the day at $6,491.5.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $5,677.0 before making a move.

Steering clear of the first major support level at $5,580.1, Bitcoin rallied to an early afternoon intraday high $6,664.3.

Bitcoin broke through the first major resistance level at $6,235.5 and the second major resistance level at $6,650.9.

Of greater significance was a move through the 23.6% FIB of $6,300 before sliding back to sub-$6,200 levels.

Finding support late in the day, however, Bitcoin broke back through the first major resistance level and 23.6% FIB to wrap up the day at $6,400 levels.

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

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

The Rest of the Pack

Across the rest of the top 10 cryptos, it was a bullish start to the week.

Monero’s XMR, Tezos, and Ethereum led the way, with gains of 17.81%, 13.92%, and 12.01% respectively.

Binance Coin (+9.69%), Bitcoin Cash ABC (+9.83%), Litecoin (+10.38%), and Tron’s TRX (+10.63%) also saw solid gains.

Bitcoin Cash SV (+7.74%), Cardano’s ADA (+8.52%), EOS (+7.50%), Ripple’s XRP (+7.77%), and Stellar’s Lumen (+8.24%) trailed the front runners.

Through the start of the week, the crypto total market cap rose from a Monday low $163.00bn to an early Tuesday high $187.61bn. At the time of writing, the total market cap stood at $181.47bn.

Bitcoin’s dominance hit 66% levels on Monday before falling to 62% levels. At the time of writing, Bitcoin’s dominance stood at 65.7%.

Trading volumes jumped from $130bn levels to $153bn levels on Monday before easing back. At the time of writing, 24-hr volumes stood at $151.44bn.

This Morning

At the time of writing, Bitcoin was up by 1.84% to $6,610.9. A bullish start to the day saw Bitcoin rise from an early morning low $6,487.7 to a high $6,696.3.

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

Elsewhere, it was a mixed start to the day, with Bitcoin Cash SV rallying by 3.6% to lead the way.

Ethereum (-0.53%), Monero’s XMR (-0.11%), and Tezos (-0.41%) saw red to buck the trend early on.

BTC/USD 24/03/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through to $6,700 levels to support a run at the first major resistance level at $6,878.2.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $6,696.3.

Barring an extended crypto rally, resistance at $6,700 would likely leave Bitcoin short of the first major resistance level.

Failure to move back through the morning high $6,696.3 to $6,700 levels could see Bitcoin hit reverse.

A fall back through the morning low $6,484.7 would bring the 23.6% FIB of $6,300 into play.

Barring a broad-based crypto sell-off, however, Bitcoin should steer clear of the first major support level at $5,890.9.

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 22/03/20

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

Binance Coin

Binance Coin rallied by 19.45% in the week ending 21st March. Partially reversing a 50.05% tumble from the previous week, Binance Coin ended the week at 12.10.

A mixed start to the week saw Binance Coin rise to a Sunday high $11.91 before hitting reverse.

Falling well short of the major resistance levels, Binance Coin tumbled to a Monday intraweek low $8.19.

Steering clear of the first major support level at $4.24, Binance Coin rebounded from an 8.78% slide to strike a Friday intraweek high $14.40.

In spite of a 17.94% Thursday rally, Binance Coin came up short of the first major resistance level at $18.22.

The 23.6% FIB of $14.40 pinned Binance Coin back on Friday, leading to a 3.08% slide on the day.

A 5th day in the green on Saturday consolidated the gains from earlier in the week. A lackluster end to the week, however, left Binance Coin back to sub-$13 levels.

For the week ahead

Binance Coin would need to break back through to $13 levels to bring the first major resistance level at $14.94 into play.

Support from the broader market would be needed for Binance Coin to break out from the 23.6% FIB of $14.4.

Barring another broad-based crypto rally, the 23.6% FIB would likely leave Binance Coin short of the major resistance levels.

Failure to move back through to $13 levels could see Binance Coin hit reverse.

A fall back through to sub-$11.6 levels would bring the first major support level at $8.73 into play

Barring another crypto meltdown, however, Binance Coin should steer clear of sub-$10 levels.

At the time of writing, Binance Coin was up by 2.23% to $12.37. A bullish start to the week, on Sunday, saw Binance Coin rise from an early morning low $11.81 to a high $12.57.

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

BNB/USD 22/03/20 Weekly Chart

Litecoin

Litecoin rallied by 11.57% in the week ending 21st March. Partially reversing a 43.13% slump from the previous week, Litecoin ended the week at $38.39.

A bullish start to the week saw Litecoin rally by 5.26% on Sunday to hit an early high $39.0 before hitting reverse.

Falling short of the major resistance levels, Litecoin slid by 8.03% on Monday to an intraweek low $29.17.

Steering well clear of the first major support level at $19.44, Litecoin rallied to a Friday intraweek high $43.97.

Falling well short of the first major resistance level at $55, Litecoin fell back to $34 levels before finding support.

A recovery to $38 levels on Friday and a 0.79% gain on Saturday consolidated a 12.14% rally from Thursday.

For the week ahead

Litecoin would need to move back through to $40 levels to support a run at the first major resistance level at $45.18.

Support from the broader market would be needed, however, for Litecoin to break out from last week’s high $43.97.

Barring an extended crypto rally, the first major resistance at $45.18 would likely limit any upside in the week.

Failure to move back through to $40 levels could see Litecoin come under further pressure.

A fall back through to sub-$37 levels would bring the first major support level at $30.38 into play.

Barring a crypto meltdown, however, Litecoin should steer clear of sub-$30 levels…

At the time of writing, Litecoin was up by 2.34% to $39.29. A bullish start to the week saw Litecoin rise from an early morning low $37.97 to a high $39.71.

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

LTC/USD 22/03/20 Weekly Chart

Tron’s TRX

Tron’s TRX rallied by 15.45% in the week ending 21st March. Partially reversing a 42.41% tumble from the previous week, Tron’s TRX ended the week at $0.011256.

Tracking the broader market, Tron’s TRX struck a Sunday high $0.011173 before sliding to a Monday intraweek low $0.008502.

Steering clear of the first major support level at $0.0056, Tron’s TRX rallied to a Friday intraweek high $0.012737.

Falling well short of the first major resistance level at $0.01551, Tron’s TRX slid back to sub-$0.011 levels.

Finding late support on Friday and Saturday, Tron’s TRX consolidated a 13.48% gain from Thursday.

For the week ahead

Tron’s TRX would need to move back through to $0.012 levels to support a run at the first major resistance level at $0.01316.

Support from the broader market would be needed, however, for Tron’s TRX to break back out from last week’s high $0.012737

Barring an extended crypto rally in the week, the first major resistance level at $0.01316 should cap any upside.

Failure to move through to $0.012 levels could see Tron’s TRX struggle in the week.

A fall back through to sub-$0.011 levels would bring the first major support level at $0.00893 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of sub-$0.0080 levels.

At the time of writing, Tron’s TRX was up by 2.61% to $0.011550. A bullish start to the day saw Tron’s TRX rise from an early morning low $0.011176 to a high $0.011600.

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

TRX/USD 22/03/20 Weekly Chart

Binance Coin Mid-Week Analysis – Support Levels in Play – 18/03/20

Apple iPhone and Binance logo, with dollars and cryptocurrency.

Binance Coin Price Support

It’s been a choppy start to the week for Binance Coin, with Binance Coin seeing 2-days in the green out of 3 going into Wednesday.

A bullish start to the week saw Binance Coin rise to a Sunday current week high $11.91 before hitting reverse.

Falling well short of the first major resistance level at $18.22, Binance Coin slid to a Monday current week low $8.19.

Steering clear of the first major support level at $4.24, Binance Coin bounced back to $10.00 levels.

The moves through the early part of the week saw Binance Coin rise by 2.13% on Sunday, before tumbling by 8.78% on Monday.

Risk aversion seen across the global equity markets weighed on the crypto markets on Monday.

A pickup in risk appetite across the global financial markets on Tuesday delivered an 8.8% rebound, however, to leave Binance Coin up by 1.48% for the current week, Sunday through Tuesday.

The near-term bearish trend remained intact, supported by the current reversal and last week’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 down by 24.69% 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 1.3% to $10.14. A mixed start to the day on Wednesday saw Binance Coin rise to an early morning high $10.54 before falling to a low $19.97

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

BNB/USD 18/03/20 Weekly Chart

For the remainder of the week

Binance Coin would need to break back through to $12.30 levels to bring the first major resistance level at $18.22 into play.

Support from the broader market would be needed, however, for Binance Coin to break out from the 23.6% FIB of $14.4.

Barring a broad-based crypto rebound ahead of the weekend, resistance at $11 would likely cap any upside.

In the event of a breakout, Binance Coin could visit $12 levels before any pullback.

Failure to break back through to $12.30 levels could see Binance Coin hit reverse.

A pullback through to sub-$10 levels would bring $6 levels back into play before any recovery.

Barring an extended crypto meltdown, however, Binance Coin should steer well clear of the first major support level at $4.24.

Looking at the Technical Indicators

Major Support Level: $4.24

Major Resistance Level: $18.22

23.6% FIB Retracement Level: $18.8

38.2% FIB Retracement Level: $22.9

62% FIB Retracement Level: $29.5