Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 07/03/21

It’s a mixed start to the week for the majors. Steering clear of the week’s pivot levels would bring resistance levels into play, however.
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Binance Coin

Binance Coin rose by 0.39% in the week ending 6th March. Partially reversing an 11.21% slide from the previous week, Binance Coin ended the week at $226.46.

A mixed start to the week saw Binance Coin fall to a Sunday intraweek low $194.67 before making a move.

Steering clear of the first major support level at 168, Binance Coin rallied to a Monday intraweek high $268.85.

Binance Coin broke through the 38.2% FIB of $230 before a 2nd pullback.

Falling short of the 23.6% FIB of $283 and the first major resistance level at $300, Binance Coin fell back to $212 levels.

Late in the week the 38.2% FIB of $230 pinned Binance Coin back.

Just 3 days in the green that included a 21.07% breakout on Monday delivered the upside for the week.

For the week ahead

Binance Coin would need to move through the $230 pivot and the 38.2% FIB of $230 to bring the first major resistance level at $265 into play.

Support from the broader market would be needed, however, for Binance Coin to break back through to $260 levels.

Barring an extended rally, the first major resistance level and last week’s high $268.85 would likely cap any upside.

Failure to move through the $230 pivot would bring the first major support level at $191 into play.

Barring an extended sell-off, Binance Coin should steer well clear of the second major support level at $155.

At the time of writing, Binance Coin was up by 0.20% to $226.92. A mixed start to the week saw Binance Coin fall to an early Sunday low $225.74 before rising to a high $231.31.

Binance Coin left the major support and resistance levels untested early on. The 38.2% FIB of $230 pinned Binance Coin back early on, however.

Litecoin

Litecoin rose by 6.33% in the week ending 7th March. Partially reversing a 24.24% slide from the previous week, Litecoin ended the week at $182.85.

A bearish start to the week saw Litecoin slide to a Sunday intraweek low $153.07 before making a move.

While steering clear of the first major support level at $143, Litecoin fell through the 38.2% FIB of $163.

Finding early support, Litecoin rallied to a Wednesday intraweek high $196.71.

While falling short of the first major resistance level at $218, Litecoin broke through the 23.6% FIB of $195 before a pullback to sub-$170.

Steering clear of the 38.2% FIB of $163, Litecoin found late support to wrap up the week at $182 levels.

4 days in the green that included a 6.21% rally on Monday delivered the upside for the week.

For the week ahead

Litecoin would need to avoid a fall through the $178 pivot to bring the 23.6% FIB of $195 and the first major resistance level at $202 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $200 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $210 would likely limit any upside.

In the event of an extended breakout, Litecoin could test the second major resistance level at $221.

Failure to avoid a fall through the $178 pivot would bring the 38.2% FIB of $163 and the first major support level at $158 into play.

Barring an extended crypto sell-off, however, Litecoin should steer well clear of sub-$150 levels. The second major support level sits at $134.

At the time of writing, Litecoin was up by 0.45% to $183.67. A bullish start to the week saw Litecoin rise from an early Sunday low $182.88 to a high $185.93.

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

Tron’s TRX

Tron’s TRX rose by 8.09% in the week ending 7th March. Partially reversing a 19.15% slide from the week prior, Tron’s TRX ended the week at $0.05037.

Tracking the broader market, Tron’s TRX slid to a Sunday intraweek low $0.04173 before making a move.

While steering well clear of the first major support level at $0.04317, Tron’s TRX fell through the 38.2% FIB of $0.04280.

Finding support through the week, however, Tron’s TRX rallied to a Thursday intraweek high $0.05596.

While falling well short of the first major resistance level at $0.06027, Tron’s TRX broke back through the 38.2% FIB of $0.04280.

In spite of a bearish end to the week, Tron’s TRX avoided the 38.2% FIB to wrap up the week at $0.050 levels.

5 days in the green that included a 4.27% gain on Monday and 4.90% rally on Thursday delivered the upside for the week.

For the week ahead

Tron’s TRX would need avoid a fall through the $0.04935 pivot to support a run at the first major resistance level at $0.05698.

Support from the broader market would be needed, however, for Tron’s TRX to break out from last week’s high $0.05596.

Barring a broad-based crypto rally, the first major resistance level and resistance at $0.060 would likely cap any upside.

In the event of an extended rally, Tron’s TRX could test the second major resistance level at $0.06358 before any pullback. The 62% FIB of $0.0648 would likely cap any upside, however.

Failure to avoid a fall through the $0.04935 pivot would bring the 38.2% FIB of $0.04280 and the first major support level at $0.04275 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer well clear of sub-$0.040 levels. The second major support level sits at $0.03512.

At the time of writing, Tron’s TRX was down by 0.31% to $0.05022. A mixed start to the week saw Tron’s TRX rise to an early Sunday high $0.05100 before falling to a low $0.04942.

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

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