Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 27/06/21

It’s a bullish start to the week. The crypto bulls will be eyeing a return to last week’s highs. Expect plenty of resistance, however, with the indicators flashing red…
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Binance Coin

Binance Coin slid by 16.24% in the week ending 26th June. Following a 2.88% decline from the previous week, Binance Coin ended the week at $279.79.

A mixed start to the week, however, saw Binance Coin rise to a Sunday intraweek high $346.41 before hitting reverse.

Falling short of the first major resistance level at $376, Binance Coin slid to a Tuesday intraweek low $224.74.

The sell-off saw Binance Coin fall through the first major support level at $306 and the second major support level at $277.

Binance Coin also fell through the 62% FIB of $273 before finding support.

Mid-week, Binance Coin broke back through the support levels and the 62% FIB to revisit $324 levels before falling back to sub-$300.

The pullback saw Binance Coin fall back through the first major support level to end the week at $279 levels.

Binance Coin found support at the first major support level and the 62% FIB late in the week.

4 days in the red that included a 20.09% tumble on Monday delivered the downside.

For the week ahead

Binance Coin would need to move through the $284 pivot to bring the first major resistance level at $343 into play.

Support from the broader market would be needed, however, for Binance Coin to break back through to $300 levels.

Barring an extended rally, the first major resistance level and last week’s high $346.41 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 $405.

Failure to move through the $284 pivot would bring the 62% FIB of $273 and the first major support level at $221 into play.

Barring an extended sell-off, however, Binance Coin should steer clear of sub-$200 levels. The second major support level sits at $162.

At the time of writing, Binance Coin was up by 0.10% to $280.06. A mixed start to the week saw Binance Coin fall to an early Sunday low $276.82 before rising to a high $285.15.

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

Litecoin

Litecoin slid by 16.89% in the week ending 26th June. Following a 5.76% decline from the previous week, Litecoin ended the week at $126.81.

A bullish start to the week saw Litecoin rise to a Sunday intraweek high $156.20 before hitting reverse.

Falling short of the first major resistance level at $172, Litecoin tumbled to a Tuesday intraweek low and swing lo $105.00.

Litecoin fell through the first major support level at $142 and the second major support level at $132.

The extended sell-off also led to a near-term bearish trend formed at 10th May’s swing hi $413.91.

Finding support late in the week, Litecoin moved back through to $138 levels before easing back into the deep red.

3 days in the red that included a 19.64% tumble on Monday delivered the downside for the week.

For the week ahead

Litecoin would need to move through the $129 pivot to bring the first major resistance level at $154 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 $156.20 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 $180.

Failure to move through the $129 pivot would bring the first major support level at $103 into play.

Barring another extended crypto sell-off, however, Litecoin should steer clear of sub-$100 levels. The second major support level sits at $78.

At the time of writing, Litecoin was down by 0.04% to $126.76. A mixed start to the week saw Litecoin fall to an early morning low $125.77 before rising to a high $127.93.

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

Tron’s TRX

Tron’s TRX fell by 8.10% in the week ending 26th June. Reversing a 0.35% gain from the previous week, Tron’s TRX ended the week at $0.06262.

A bearish start to the week saw Tron’s TRX slide to a Tuesday intraweek low and a swing lo $0.04457 before making a move.

Tron’s TRX fell through the first major support level at $0.06170 and the second major support level at $0.05525.

The extended sell-off also led to a near-term bearish trend formation at 16th April’s swing hi $0.1844.

Finding mid-week support, however, Tron’s TRX rallied to a Thursday intraweek high $0.07164.

Falling short of the first major resistance level at $0.07587, Tron’s TRX fell back to sub-$0.060 levels before ending the week at $0.062 levels.

4 days in the red that included a 20.96% tumble on Monday delivered the downside for the week.

For the week ahead

Tron’s TRX would need to avoid the $0.05961 pivot to support a run at the first major resistance level at $0.07465.

Support from the broader market would be needed, however, for Tron’s TRX to break out from last week’s high $0.07164.

Barring a broad-based crypto rally, first major resistance level and the 23.6% FIB of $0.07870 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 $0.08668.

A fall through the $0.05961 pivot would bring the first major support level at $0.04758 into play.

Barring another extended crypto sell-off, however, Tron’s TRX should steer clear of sub-$0.040 levels. The second major support level sits at $0.03254.

At the time of writing, Tron’s TRX was up by 0.66% to $0.06304. A mixed start to the week saw Tron’s TRX fall to an early Sunday low $0.06179 before rising to a high $0.06396.

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

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