Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 20/06/21

It was a bearish start to the week on Sunday morning. The majors will need to move through the week’s pivot levels, however, to bring resistance levels into play.
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Binance Coin

Binance Coin fell by 2.88% in the week ending 19th June. Following an 11.95% slide from the previous week, Binance Coin ended the week at $333.95.

A mixed start to the week, however, saw Binance Coin slide to a Sunday intraweek low $318.81 before making a move.

Steering clear of the first major support level at $304, Binance Coin rallied to a Tuesday intraweek high $388.66.

Falling short of the first major resistance level at $396, however, Binance Coin slid back to $322 levels before finding support.

4 days in the red that included a 5.33% slide on Wednesday and a 4.42% decline on Friday delivered the downside.

For the week ahead

Binance Coin would need to move through the $347 pivot to bring the first major resistance level at $376 into play.

Support from the broader market would be needed, however, for Binance Coin to break out from $350 levels.

Barring an extended rally, the first major resistance level and last week’s high $388.66 should limit any upside.

In the event of a broad-based crypto rebound, Binance Coin could test resistance at the 38.2% FIB of $438. The second major resistance level sits at $417.

Failure to move through the $347 pivot would bring the first major support level at $306 into play.

Barring an extended sell-off, however, Binance Coin should steer clear of sub-$250 levels. The second major support level at $277 and the 62% FIB of $273 should limit the downside.

At the time of writing, Binance Coin was down by 0.17% to $333.40. A mixed start to the week saw Binance Coin rise to an early Sunday high $336.87 before falling to a low $329.82.

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

Litecoin

Litecoin fell by 5.76% in the week ending 19th June. Following a 6.45% decline from the previous week, Litecoin ended the week at $152.53.

A bullish start to the week saw Litecoin rise to a Tuesday intraweek high $181.26 before hitting reverse.

Litecoin broke through the 62% FIB of $174 to test the first major resistance level at $181.

The reversal saw Litecoin slide back through the 62% FIB of $174 to a Friday intraweek low $151.11.

Steering clear of the first major support level at $144, however, Litecoin found support to end the week at $152 levels.

4 days in the red that included a 4.88% fall on Tuesday and a 6.44% slide on Friday delivered the downside for the week.

For the week ahead

Litecoin would need to move through the $162 pivot to bring the first major resistance level at $172 and the 62% FIB of $174 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $170 levels.

Barring an extended crypto rally, the first major resistance level and 62% FIB would likely limit any upside.

In the event of a broad-based crypto rally, Litecoin could test resistance at $200 before any pullback. The second major resistance level sits at $192.

Failure to move through the $162 pivot would bring the first major support level at $142 into play.

Barring another extended crypto sell-off, however, Litecoin should steer clear of the second major support level at $132.

At the time of writing, Litecoin was down by 0.26% to $152.13. A mixed start to the week saw Litecoin rise to an early Sunday high $153.34 before falling to a low $150.50.

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

Tron’s TRX

Tron’s TRX rose by 0.35% in the week ending 19th June. Following a 9.41% fall from the previous week, Tron’s TRX ended the week at $0.06815.

A mixed start to the week saw Tron’s TRX fall to a Sunday intraweek low $0.06297 before making a move.

Steering clear of the first major support level at $0.06122, Tron’s TRX rose to a Thursday intraweek high $0.07714.

While falling short of the first major resistance level at $0.07856, Tron’s TRX broke through the 62% FIB of $0.07480.

A bearish end to the week, however, saw Tron’s TRX fall back through the 62% FIB to end the week at sub-$0.070 levels.

4 days in the green that included a 7.02% rally on Thursday delivered the upside.

For the week ahead

Tron’s TRX would need to move through the $0.06942 pivot to support a run at the 62% FIB of $0.07480 and the first major resistance level at $0.07587.

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, first major resistance level and last week’s high $0.07714 would likely cap any upside.

In the event of an extended rally, Tron’s TRX could test resistance at $0.085. The second major resistance level sits at $0.08359.

Failure to move through the $0.06942 pivot would bring the first major support level at $0.06170 into play.

Barring another extended crypto sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.05525.

At the time of writing, Tron’s TRX was down by 0.80% to $0.06761. A mixed start to the week saw Tron’s TRX rise to an early Sunday high $0.06883 before falling to a low $0.06710.

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

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