Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 11/04/21

It’s a bearish start to the week for the majors after last week’s breakout. A move back through early Sunday’s highs would support a run at the week’s resistance levels, however.
Silver and golden coins with bitcoin, ripple and ethereum symbol

Binance Coin

Binance Coin surged by 46.37% in the week ending 10th April. Following on from a 19.62% rally from the previous week, Binance Coin ended the week at $471.37.

A mixed start to the week saw Binance Coin fall to a Sunday intraweek low $315.91 before making a move.

Steering clear of the 23.6% FIB of $283 and the first major support level at $265, Binance Coin rallied to a Saturday intraweek high and a new swing hi $508.83.

Binance Coin broke through the first major resistance level at $372 and the second resistance level at $422.

Falling short of the third major resistance level at $530, Binance Coin eased back to end the week at sub-$480.

6 days in the green that included an 11.65% rally on Thursday delivered the upside for the week.

For the week ahead

Binance Coin would need to avoid a fall through the $432 pivot to bring the first major resistance level at $548 into play.

Support from the broader market would be needed, however, for Binance Coin to break out from last week’s swing hi $508.83.

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

In the event of a breakout, Binance Coin could test resistance at $600 before any pullback. The second major resistance level sits at $625.

Failure to avoid a fall through the $432 pivot would bring the 23.6% FIB of $390 and the first major support level at $355.

Barring an extended sell-off, Binance Coin should steer well clear of sub-$300 levels and the second major support level at $239. The 38.25 FIB of $317 should limit the downside.

At the time of writing, Binance Coin was down by 0.98% to $466.74. A mixed start to the week saw Binance Coin rise to an early Sunday morning high $478.70 before falling to a low $451.86.

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

Litecoin

Litecoin jumped by 31.08 in the week ending 10th April. Following on from a 6.10% gain from the previous week, Litecoin ended the week at $255.94.

A mixed start to the week saw Litecoin fall to a Sunday intraweek low $191.90 before making a move.

While steering clear of the first major support level at $179, Litecoin fell through the 23.6% FIB of $195.

Finding support on Sunday, Litecoin rallied to a Tuesday high $244.54.

Litecoin broke through the first major resistance level at $213 and the second major resistance level at $232.

Coming within range of February’s swing hi $247, Litecoin fell back to $211 levels before finding late support.

A 15.75% rally on Saturday drove Litecoin to an intraweek high and a new swing hi $256.63 before easing back.

Litecoin broke back through the first major resistance level at $213 and the second major resistance level at $232 to end the week at $255 levels.

5 days in the green that included a 9.48% rally on Monday and a 15.75% surge on Saturday delivered the upside for the week. A 7.49% slide on Wednesday pared some of the gains from early in the week, however.

For the week ahead

Litecoin would need to avoid a fall through the $235 pivot to bring the first major resistance level at $278 into play.

Support from the broader market would be needed, however, for Litecoin to break out from this morning’s new swing hi $258.00.

Barring an extended crypto rally, the first major resistance level and resistance at $285 would likely limit any upside.

In the event of an extended breakout, Litecoin could test the second major resistance level at $300.

Failure to avoid a fall through the $235 pivot would bring and the first major support level at $213 and the 23.6% FIB of $202 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$200 levels. The second major support level sits at $170.

At the time of writing, Litecoin was down by 0.83% to $253.81. A mixed start to the week saw Litecoin rise to an early Sunday morning new swing hi $258.00 before falling to a low $249.63.

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

Tron’s TRX

Tron’s TRX rallied by 25.45% in the week ending 10th April. Following on from a 59.67% surge from the previous week, Tron’s TRX ended the week at $0.1267.

A bullish start to the week saw Tron’s TRX jump to a Monday intraweek high and a new swing hi $0.1495.

Tron’s TRX broke through the first major resistance level at $0.1224 and the second major resistance level at $0.1431.

Bearish mid-week, however, Tron’s TRX slid back through the resistance levels to $0.1020 levels.

While steering clear of the first major support level at $0.07089, Tron’s TRX fell through the 23.6% FIB of $0.1159.

Finding support going into the weekend, Tron’s TRX revisited $0.13 levels before easing back.

While falling short of the major resistance levels, Tron’s TRX broke back through the 23.6% FIB of $0.1159 to end the week at $0.126 levels.

4 days in the green that included a 25.51% breakout on Sunday and an 11.21% rally on Thursday delivered the upside for the week. Heavy losses on Tuesday (-9.09%) and Wednesday (-10.80%) limited the upside for the week, however.

For the week ahead

Tron’s TRX would need to move back through the $0.1263 pivot to support a run at the first major resistance level at $0.1500.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.14 levels.

Barring a broad-based crypto rally, the first major resistance level and last week’s new swing hi $0.1495 would likely cap any upside.

In the event of another extended rally, Tron’s TRX could test resistance at $0.17. The second major resistance level sits at $0.1733.

Failure to move back through the $0.1263 pivot would bring the 23.6% FIB of $0.1159 and the first major support level at $0.1030 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of the 38.2% FIB of $0.0951. The second major support level sits at $0.0793.

At the time of writing, Tron’s TRX was down by 3.22% to $0.1226. A mixed start to the week saw Tron’s TRX rise to an early Sunday morning high $0.1286 before falling to a low $0.1192.

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

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