Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 25/07/21

Binance Coin

Binance Coin rose by 0.43% in the week ending 24th July. Partially reversing a 4.94% decline from the previous week, Binance Coin ended the week at $301.82.

A mixed start to the week saw Binance Coin rise to a Sunday intraweek high $314.11 before hitting reverse.

Falling short of the first major resistance level at $329, Binance Coin slid to a Tuesday intraweek low $254.58.

Binance Coin fell through the first major support level at $281 and the second major support level at $261.

More significantly, Binance Coin also fell through the 62% FIB of $273.

Finding mid-week support, however, Binance Coin broke back through the major support levels and the 62% FIB to end the week at $300 levels.

5 days in the green that included a 10.85% surge on Wednesday delivered the upside.

For the week ahead

Binance Coin would need to avoid the $290 pivot to bring the first major resistance level at $326 into play.

Support from the broader market would be needed, however, for Binance Coin to break back through to $320 levels.

Barring an extended rally, the first major resistance level and resistance at $330 would likely limit any upside.

In the event of a broad-based crypto rally, Binance Coin could test resistance at $400. The second major resistance level sits at $350.

A fall through the $290 pivot would bring the 62% FIB of $273 and the first major support level at $266 into play.

Barring an extended sell-off, however, Binance Coin should steer clear of the second major support level at $231.

At the time of writing, Binance Coin was down by 1.03% to $298.73. A mixed start to the week saw Binance Coin rise to an early Sunday high $304.49 before falling to a low $296.95.

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

BNBUSD 250721 Daily Chart

Litecoin

Litecoin rose by 5.06% in the week ending 24th July. Partially reversing a 10.45% slide from the previous week, Litecoin ended the week at $126.12.

A mixed start to the week saw Litecoin fall to a Tuesday intraweek low $104.02 before making a move.

Litecoin fell through the first major support level at $112 before a mid-week rally to a Saturday intraweek high $127.58.

Falling well short of the first major resistance level at $134, however, Litecoin ease back to end the week at $126 levels.

4 days in the green that included a 9.66% rally on Wednesday delivered the upside for the week.

For the week ahead

Litecoin would need to avoid the $119 pivot to bring the first major resistance level at $135 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $130 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $140 would likely limit any upside.

In the event of a broad-based crypto rally, Litecoin could test resistance at $150 before any pullback. The second major resistance level sits at $143.

A fall through the $119 pivot would bring the first major support level at $111 into play.

Barring another extended crypto sell-off, however, Litecoin should steer clear of sub-$100 levels. The second major support level sits at $96.

At the time of writing, Litecoin was down by 1.21% to $124.60. A mixed start to the week saw Litecoin rise to an early Sunday high $126.61 before falling to a low $123.62.

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

LTCUSD 250721 Daily Chart

Tron’s TRX

Tron’s TRX rose by 2.66% in the week ending 24th July. Partially reversing an 8.51% slide from the previous week, Tron’s TRX ended the week at $0.05760.

A mixed start to the week saw Tron’s TRX rise to a Sunday intraweek high $0.05840 before hitting reverse.

Falling short of the first major resistance level at $0.06186, Tron’s TRX slid to a Tuesday intraweek low $0.04863.

The reversal saw Tron’s TRX fall through the first major support level at $0.05232 before recovering to end the week at $0.057 levels.

4 days in the green that included a 7.23% rally on Wednesday delivered the upside for the week.

For the week ahead

Tron’s TRX would need to avoid the $0.05488 pivot to support a run at the first major resistance level at $0.06112.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.060 levels.

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

In the event of an extended rally, Tron’s TRX could test resistance at $0.065 levels. The second major resistance level sits at $0.06465.

A fall through the $0.05488 pivot would bring the first major support level at $0.05135 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer well clear of the second major support level at $0.04511.

At the time of writing, Tron’s TRX was down by 2.51% to $0.05616. A mixed start to the week saw Tron’s TRX rise to an early Sunday high $0.05791 before falling to a low $0.05603.

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

TRXUSD 250721 Daily Chart

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