Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 14/02/21

It’s a bearish start to the week. Avoiding the week’s pivot levels, however, should support further upside in the week ahead.
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Binance Coin

Binance Coin surged by 82.88% in the week ending 13th February. Following on from a 62.90% breakout from the previous week, Binance Coin ended the week at $133.43.

A mixed start to the week saw Binance Coin fall to a Monday intraweek low $60.96 before making a move.

Steering well clear of the 23.6% FIB of $61 and the first major support level at $50.60, Binance coin surged to a Wednesday intraweek high and a new swing hi $150.86.

Binance Coin broke through the week’s major resistance levels before falling back to $110 levels.

The pullback saw Binance Coin fall back through the third major resistance level at $136.43 before briefly revisiting $145 levels.

A bearish end to the week, however, saw Binance Coin fall back through the third major resistance level to end the week at $133 levels.

4 days in the green that included a 34.54% surge on Tuesday and a 19.78% rally on Wednesday delivered the upside for the week.

For the week ahead

Binance Coin would need to avoid a fall through the $115 pivot to bring the first major resistance level at $169 into play.

Support from the broader market would be needed for Binance Coin to break out from last week’s new swing hi $150.86.

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

In the event of an extended crypto rally, could test resistance at $200 before any pullback. The second major resistance level sits at $205.

Failure to avoid a fall through the $115 pivot would bring the 23.6% FIB of $117 and the first major support level at $79 and into play.

Barring a crypto sell-off, Binance Coin should steer well clear of sub-$100 levels and the 38.2% FIB of $96. The second major support level sits at $25.

At the time of writing, Binance Coin was down by 1.13% to $131.92. A mixed start to the week saw Binance Coin rise to an early Sunday high $135.61 before falling to a low $129.99.

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

Litecoin

Litecoin jumped by 45.29% in the week ending 13th February. Following on from a 16.66% rally from the week prior, Litecoin ended the week at $226.62.

A bearish start to the week saw Litecoin fall to a Sunday intraweek low $145.33 before making a move.

While steering clear of first major support level at $132.90, Litecoin fell through the 23.6% FIB of $148.

Bullish through the rest of the week, however, Litecoin surged to a Saturday intraweek high and a new swing hi $229.52.

Litecoin broke through the week’s major resistance levels before a pullback to sub-$220.

The pullback saw Litecoin briefly fall back through the third major resistance level at $225.63 before wrapping up the week at $226 levels.

5 days in the green that included a 11.05% rally on Monday and a 14.92% breakout on Saturday delivered the upside.

For the week ahead

Litecoin would need to avoid a fall through the $197 pivot to bring the first major resistance level at $249 into play.

Support from the broader market would be needed, however, for Litecoin to break out from last week’s swing hi $229.52.

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

In the event of an extended breakout, Litecoin could test resistance at $280 before any pullback. The second major resistance level sits at $272.

Failure to avoid a fall through the $197 pivot would bring the 23.6% FIB of $181 and the first major support level at $175 into play.

Barring an extended crypto sell-off, however, Litecoin should steer well clear of the 38.2% FIB of $151. The second major support level sits at $123.

At the time of writing, Litecoin was down by 1.34% to $223.59. A mixed start to the week saw Litecoin rise to an early Sunday high $228.81 before falling to a low $220.59.

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

Tron’s TRX

Tron’s TRX surged by 71% in the week ending 13th February. Following on from a 10.82% rally from the week prior, Tron’s TRX ended the week at $0.06045.

Tracking the broader market, Tron’s TRX fell to a Monday intraweek low $0.03120 before making a move.

Steering clear of the first major support level at $0.03032, Tron’s TRX rallied to a Saturday intraweek high $0.06317.

Tron’s TRX broke through the week’s major resistance levels. More significantly, Tron’s TRX also broke through the 38.2% FIB of $0.0428.

In spite of a late Saturday pullback, Tron’s TRX avoided a fall back through the third major resistance level at $0.05335.

5 days in the green that included an 12.96% rally on Monday and a 22.55% breakout on Thursday delivered the upside for the week.

For the week ahead

Tron’s TRX would need to avoid a fall through the $0.05161 pivot to support a run at 62% FIB of $0.06480 and the first major resistance level at $0.0.07201.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the 62% FIB.

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

In the event of an extended rally, Tron’s TRX could test resistance at $0.090 levels before any pullback. The second major resistance level sits at $0.08358.

Failure to avoid a fall through the $0.05161 pivot would bring the 38.2% FIB of $0.04280 and the first major support level at $0.04004 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of sub-$0.040 levels. The 38.2% FIB and first major support level should limit any downside in the week.

At the time of writing, Tron’s TRX was down by 3.09% to $0.05858. A mixed start to the week saw Tron’s TRX rise to an early Sunday high $0.06112 before falling to a low $0.05744.

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

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