Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 04/07/21

It’s been a mixed start to the week for the majors. Failure to move back through last week’s highs would bring support levels into play.
Different cryptocurrencies in a circle with a golden bitcoin in

Binance Coin

Binance Coin rose by 6.63% in the week ending 3rd July. Following a 16.24% slide from the previous week, Binance Coin ended the week at $298.36.

A bearish start to the week saw Binance Coin fall to a Sunday intraweek low $263.06 before making a move.

While steering clear of the first major support level at $221, Binance Coin fell through the 62% FIB of $273.

Finding early support, however, Binance Coin broke back through the 62% FIB to strike a Tuesday intraweek high $318.24.

Falling short of the first major resistance level at $343, Binance Coin fell back to $284 levels before ending the week at $298 levels.

4 days in the green that included a 3.74% gain on Tuesday delivered the downside.

For the week ahead

Binance Coin would need to avoid the $293 pivot to bring the first major resistance level at $323 into play.

Support from the broader market would be needed, however, for Binance Coin to break out from last week’s high $318.24.

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

In the event of a broad-based crypto rebound, Binance Coin could test resistance at $350. The second major resistance level sits at $348.

A fall through the $293 pivot would bring the 62% FIB of $273 and the first major support level at $268 into play.

Barring an extended sell-off, however, Binance Coin should steer clear of sub-$250 levels. The second major support level sits at $238.

At the time of writing, Binance Coin was down by 0.76% to $296.08. A mixed start to the week saw Binance Coin rise to an early Sunday high $299.36 before falling to a low $295.37.

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

Litecoin

Litecoin rose by 10.59% in the week ending 3rd July. Partially reversing a 16.89% slide from the previous week, Litecoin ended the week at $140.19.

A mixed start to the week saw Litecoin fall to a Sunday intraweek low $124.61 before making a move.

Steering clear of the first major support level at $103, Litecoin rose to a Tuesday intraweek high $149.26.

Falling short of the first major resistance level at $154, Litecoin fell back to a low $130.60 before finding support.

5 days in the green that included a 4.71% rally on Tuesday delivered the upside for the week.

For the week ahead

Litecoin would need to avoid the $138 pivot to bring the first major resistance level at $151 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $150 levels.

Barring an extended crypto rally, the first major resistance level and last week’s high $149.26 would likely limit any upside.

In the event of a broad-based crypto rally, Litecoin could test resistance at the 23.6% FIB of $178. The second major resistance level sits at $163.

A fall through the $138 pivot would bring the first major support level at $127 into play.

Barring another extended crypto sell-off, however, Litecoin should steer clear of sub-$120 levels. The second major support level sits at $113.

At the time of writing, Litecoin was down by 0.70% to $139.21. A mixed start to the week saw Litecoin rise to an early morning high $140.52 before falling to a low $139.09.

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

Tron’s TRX

Tron’s TRX rose by 6.36% in the week ending 3rd July. Partially reversing an 8.10% decline from the previous week, Tron’s TRX ended the week at $0.06694.

A mixed start to the week saw Tron’s TRX fall to a Sunday intraweek low $0.05891 before making a move.

Steering clear of the first major support level at $0.04758, Tron’s TRX rose to a Tuesday intraweek high $0.07257.

Falling short of the first major resistance level at $0.07465, however, Tron’s TRX fell back to sub-$0.063 levels before ending the week at $0.066 levels.

6 days in the green that included a 3.57% gain on Tuesday delivered the upside for the week.

For the week ahead

Tron’s TRX would need to move back through the $0.06614 pivot to support a run at the first major resistance level at $0.07337.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.070 levels.

Barring a broad-based crypto rally, first major resistance level and last week’s high $0.07257 would likely cap any upside.

In the event of an extended rally, Tron’s TRX could test resistance at the 23.6% FIB of $0.07870. The second major resistance level sits at $0.07980.

Failure to move back through the $0.06614 pivot would bring the first major support level at $0.05971 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of sub-$0.055 levels. The second major support level sits at $0.05248.

At the time of writing, Tron’s TRX was down by 1.35% to $0.06604. A mixed start to the week saw Tron’s TRX rise to an early Sunday high $0.06714 before falling to a low $0.06591.

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

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