The Crypto Daily – Movers and Shakers – August 1st, 2020

Bitcoin, BTC to USD, rallied by 2.04% on Friday. Following a 0.05% gain on Thursday, Bitcoin ended the month up by 24.04% to $11,350.0.

A bearish start to the day saw Bitcoin fall to an early morning intraday low $10,990 before making a move.

Steering clear of the first major support level at $10,923.2, Bitcoin rose to a late afternoon intraday high $11,440.0.

Bitcoin broke through the first major resistance level at $11,255.4 and the second major resistance level at $11,387.8.

A late pullback saw Bitcoin fall back through the resistance levels before finding support.

Bitcoin broke back through the first major resistance level to wrap up the day at $11,350 levels.

The near-term bullish trend remained intact, supported by the latest move through to $11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Friday.

Binance Coin (+7.76%), Bitcoin Cash SV (+7.19%), and Ripple’s XRP (+6.22%) led the way.

Bitcoin Cash ABC (+2.22%), Ethereum (+3.46%), Litecoin (+2.46%), and Monero’s XMR (+4.39%), also found strong support.

EOS (+1.36%), Stellar’s Lumen (+0.73%), Tezos (+1.44%), and Tron’s TRX (+1.93%) trailed the front runners.

Cardano’s ADA bucked the trend, however, falling by 1.17%.

It was a bullish July for the crypto market.

Cardano’s ADA surged by 67.38% to lead the majors.

Bitcoin Cash SV (+46.21%), Ethereum (+53.82%), Litecoin (+41.45%), Ripple’s XRP (+48.21%), and Stellar’s Lumen (+45.72%) also found strong support.

Binance Coin (+34.44%), Bitcoin Cash ABC (+34.87%), EOS (+30.56%), Monero’s XMR (33.17%), Tezos (+20.69%), and Tron’s TRX (+20.39%) trailed the front runners.

In the current week, the crypto total market cap rose from a Monday low $285.49bn to a Monday high $335.81bn. At the time of writing, the total market cap stood at $326.94bn.

Bitcoin’s dominance rose from a Monday low 62.44% to a Tuesday high 64.58% before easing back. At the time of writing, Bitcoin’s dominance stood at 63.53.

This Morning

At the time of writing, Bitcoin was down by 0.82% to $11,257.0. A mixed start to the day saw Bitcoin rise to an early morning high $11,398 before falling to a low $11,238.0.

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

Elsewhere, it was a mixed start to the day.

At the time of writing, Bitcoin Cash ABC (+0.14%), Cardano’s ADA (+0.21%), and Stellar’s Lumen (+0.69%) found early support.

It was a bearish start for the rest of the majors, however. Ripple’s XRP was down by 1.44% to lead the way down.

BTC/USD 01/08/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the $11,260 pivot to support a run at the first major resistance level at $11,530.

Support from the broader market would be needed, however, for Bitcoin to break out from Friday’s high $11,440.

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

In the event of a crypto breakout, Bitcoin could eye the second major resistance level at $11,710.

Failure to move through the $11,260 pivot level would bring the first major support level at $11,080 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$11,000 levels and the second major support level at $10,810.

The Crypto Daily – Movers and Shakers – July 31st, 2020

Bitcoin, BTC to USD, rose by 0.05% on Thursday. Following on from a 1.70% gain on Wednesday, Bitcoin ended the day at $11,123.0.

A bearish start to the day saw Bitcoin fall to an early afternoon intraday low $10,855.8 before making a move.

Finding support at the first major support level at $10,852, Bitcoin rose to a late high $11,186.1.

Falling well short of the first major resistance level at $11,380, Bitcoin fell back to sub-$11,100 levels and into the red.

Finding late support, however, Bitcoin move struck a final hour intraday high $11,188 before easing back.

In spite of the pullback, Bitcoin closed out the day in the green.

The near-term bullish trend remained intact, supported by the latest move through to $11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish day on Thursday.

Ethereum rallied by 5.39% to lead the way.

Bitcoin Cash ABC (+2.43%), Bitcoin Cash SV (+1.52%), Litecoin (+2.92%), Monero’s XMR (+2.58%), and Stellar’s Lumen (+1.72%) also found strong support.

Binance Coin (+0.55%), Cardano’s ADA (+0.62%), EOS (+0.90%), Ripple’s XRP (+0.36%), Tezos (+0.90%), and Tron’s TRX (+0.32%) tailed the front runners.

In the current week, the crypto total market cap rose from a Monday low $285.49bn to a Monday high $335.81bn. At the time of writing, the total market cap stood at $321.79bn.

Bitcoin’s dominance rose from a Monday low 62.43% to a Tuesday high 64.57% before easing back. At the time of writing, Bitcoin’s dominance stood at 63.58.

This Morning

At the time of writing, Bitcoin was down by 0.16% to $11,105.0. A mixed start to the day saw Bitcoin rise to an early morning high $11,149.3 before falling to a low $11,100.3.

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

Elsewhere, it was a mixed start to the day.

Binance Coin (+0.51%), Monero’s XMR (+0.22%), and Tezos (+0.01%) bucked the trend early on.

It was a bearish start for the rest of the majors, with Bitcoin Cash SV down by 0.58% to lead the way down.

BTC/USD 31/07/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $11,056 pivot to support a run at the first major resistance level at $11,255.

Support from the broader market would be needed, however, for Bitcoin to break out from Thursday’s high $11,189.2.

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

In the event of a crypto breakout, Bitcoin could eye the second major resistance level at $11,388.

Failure to avoid a fall through the $11,056 pivot level would bring the first major support level at $10,923 into play.

Barring an extended crypto sell-off, however, Bitcoin should continue to steer clear of sub-$10,800 levels and the second major support level at $10,723.

Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 30th, 2020

Litecoin

Litecoin fell by 1.20% on Wednesday. Following a 4.61% rally on Tuesday, Litecoin ended the day at $55.20.

It was another mixed start to the day. Recovering from an early low $55.22, Litecoin rose to a mid-morning intraday high $56.99 before hitting reverse.

Falling short of the first major resistance level at $58.66, Litecoin fell to an early afternoon intraday low $54.77.

Steering clear of the first major support level at $52.38, Litecoin revisited $56 levels before sliding back to $55 levels. Litecoin also avoided a fall back through the 23.6% FIB of $54.

At the time of writing, Litecoin was up by 0.40% to $55.42. A mixed start to the day saw Litecoin fall to an early morning low $54.24 before striking a high $55.42.

Litecoin left the major support and resistance levels untested early in the day.

LTC/USD 30/07/20 Daily Chart

For the day ahead

Litecoin would need to move through the $55.65 pivot to support a run at the first major resistance level at $56.54.

Support from the broader market would be needed, however, for Litecoin to break back through to $56 levels.

Barring another crypto rally, the first major resistance level and Wednesday’s high $56.99 would likely cap any upside.

Failure to move through the $55.65 pivot would bring the first major support level at $54.32 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$54 levels and the second major support level at 53.43. The 23.6% FIB of $54 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $54.32

First Major Resistance Level: $56.54

23.6% FIB Retracement Level: $54

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen fell by 2.36% on Wednesday. Partially reversing a 3.66% gain from Tuesday, Stellar’s Lumen ended the day at $0.09520.

It was a mixed start to the day. Stellar’s Lumen fell to an early morning low $0.096459 before making a move.

Steering clear of the first major support level at $0.09466, Stellar’s Lumen rallied to an early morning intraday high $0.09959.

Coming up against the first major resistance level at $0.09960, Stellar’s Lumen slid to a late afternoon intraday low $0.094872.

Finding support at the first major support level at $0.09466, Stellar’s Lumen moved back through to $0.095 levels.

At the time of writing, Stellar’s Lumen was up by 0.59% to $0.095759. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.09450 before striking a high $0.095959.

Stellar’s Lumen left the major support and resistance levels untested early on.

XLM/USD 30/07/20 Daily Chart

For the day ahead

Stellar’s Lumen would need to move through the $0.09655 pivot to support a run at the first major resistance level at $0.09824.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.098 levels.

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

Failure to move through the $0.09655 pivot would bring the first major support level at $0.09351 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer well clear of the second major support level at $0.09182.

Looking at the Technical Indicators

First Major Support Level: $0.09351

First Major Resistance Level: $0.09824

23.6% FIB Retracement Level: $0.09960

38% FIB Retracement Level: $0.14336518

62% FIB Retracement Level: $0.2050

Tron’s TRX

Tron’s TRX slipped by 0.12% on Wednesday. Following a 2.26% gain on Tuesday, Tron’s TRX ended the day at $0.019224.

A bearish start saw Tron’s TRX fall to an early morning intraday low $0.018989 before making a move.

Steering clear of the first major support level at $0.01844, Tron’s TRX rallied to an early morning intraday high $0.019990.

Tron’s TRX broke through the first major resistance level at $0.01971 before falling back to $0.01910 levels.

Finding late support, however, Tron’s TRX revisited $0.0195 levels before sliding to $0.0192 levels and into the red.

At the time of writing, Tron’s TRX was down by 0.50% to $0.019128. A bearish start to the day saw Tron’s TRX fall to an early morning low $0.018829 before rising to a high $0.019169.

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

TRX/USD 30/07/20 Daily Chart

For the Day Ahead

Tron’s TRX would need to move through the $0.01940 pivot level to support a run at the first major resistance level at $0.01981.

Support from the broader market would be needed, however, for Tron’s TRX to break out from $0.01950 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $0.01999 would likely cap any upside.

Failure to move through the $0.01940 pivot level would bring the first major support level at $0.01881 into play.

Barring another extended crypto sell-off, Tron’s TRX should steer clear of the second major support level sits at $0.01840.

Looking at the Technical Indicators

First Major Support Level: $0.01881

First Major Resistance Level: $0.01981

23.6% FIB Retracement Level: $0.0322

38.2% FIB Retracement Level: $0.0452

62% FIB Retracement Level: $0.0663

Please let us know what you think in the comments below

Thanks, Bob

The Crypto Daily – The Movers and Shakers – July 30th, 2020

Bitcoin, BTC to USD, rose by 1.70% on Wednesday. Reversing a 1.02% fall from Tuesday, Bitcoin ended the day at $11,117.

It was another mixed start to the day. Bitcoin fell to an early morning intraday low $10,851 before making a move.

Steering clear of the first major support level at $10,594, Bitcoin rallied to a late intraday high $11,355.

Bitcoin broke through the first major resistance level at $11,267 before easing back to sub-$11,200 levels.

The late pullback saw Bitcoin fall back through the first major resistance level at $11,267.

The near-term bullish trend remained intact, supported by the latest move through to $11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Wednesday.

Cardano’s ADA slid by 6.46% to lead the way down.

Bitcoin Cash SV (-2.54%), Monero’s XMR (-2.76%), and Stellar’s Lumen (-2.36%) also saw relatively heavy losses.

Binance Coin (-1.53%), Bitcoin Cash ABC (-1.06%), Litecoin (-1.20%), Tezos (-1.88%) and Tron’s TRX (-0.12%) saw more modest losses on the day.

It was a bullish day for the rest of the majors, however.

Ripple’s XRP rallied by 5.57% to lead the way.

EOS (+0.79%) and Ethereum (+0.20%) also found support.

In the current week, the crypto total market cap rose from a Monday low $285.49bn to a Monday high $335.81bn. At the time of writing, the total market cap stood at $318.81bn.

Bitcoin’s dominance rose from a Monday low 62.43% to a Tuesday high 64.57% before easing back. At the time of writing, Bitcoin’s dominance stood at 64.14.

This Morning

At the time of writing, Bitcoin was down by 0.35% to $11,077.8. A bearish start to the day saw Bitcoin fall from an early morning high $11,117.4 to a low $11,004.0.

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

Elsewhere, it was a mixed start to the day.

At the time of writing, Monero’s XMR and Bitcoin Cash SV were up by 1.04% and 0.92% respectively to lead the way.

Binance Coin (+0.05%), Ethereum (+0.16%), and Stellar’s Lumen (+0.23%) also found early support.

It was a bearish start for the rest of the majors, with Ripple’s XRP down by 1.10% to lead the way down.

BTC/USD 30/07/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the $11,116 pivot to support a run at the first major resistance level at $11,380.

Support from the broader market would be needed, however, for Bitcoin to break out from Wednesday’s high $11,355.

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

In the event of a crypto breakout, Bitcoin could eye the second major resistance level at $11,601.

Failure to move through the $11,116 pivot level would bring the first major support level at $10,852 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$10,800 levels and the second major support level at $10,588.

Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 29th, 2020

Litecoin

Litecoin rose by 4.61% on Tuesday. Following on from a 10.91% rally on Monday, Litecoin ended the day at $55.85.

It was a mixed start to the day. Litecoin rose to an early morning high $54.68 before falling to a late morning intraday low $51.71.

Steering clear of the first major support level at $48.12, Litecoin rallied to a late afternoon intraday high $57.99.

Litecoin broke through the first major resistance level at $57.46 before easing back.

At the time of writing, Litecoin was up by 0.21% to $55.97. A mixed start to the day saw Litecoin rise to an early morning high $56.28 before falling to a low $55.22.

Litecoin left the major support and resistance levels untested early in the day.

LTC/USD 29/07/20 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $55.18 pivot to support a run at the first major resistance level at $58.66.

Support from the broader market would be needed, however, for Litecoin to break out from Tuesday’s high $57.99.

Barring another crypto rally, the first major resistance level would likely cap any upside.

Failure to avoid a fall through the $55.18 pivot would bring the first major support level at $52.38 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$50 levels. The second major support level sits at $48.90.

Looking at the Technical Indicators

First Major Support Level: $52.38

First Major Resistance Level: $58.66

23.6% FIB Retracement Level: $54

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen rose by 3.66% on Tuesday. Partially reversing a 4.75% slide from Monday, Stellar’s Lumen ended the day at $0.097659.

It was a bearish start to the day. Stellar’s Lumen fell to an early morning intraday low $0.093592 before making a move.

Steering clear of the first major support level at $0.08854, Stellar’s Lumen rallied to a late intraday high $0.098536.

Falling short of the first major resistance level at $0.10061, Stellar’s Lumen eased back to end the day at $0.097 levels.

At the time of writing, Stellar’s Lumen was up 0.33% to $0.097977. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.096459 before rising to a high $0.098268.

Stellar’s Lumen left the major support and resistance levels untested early on.

XLM/USD 29/07/20 Hourly Chart

For the day ahead

Stellar’s Lumen would need to avoid a fall through the $0.09660 pivot to support a run at the first major resistance level at $0.9960.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Tuesday’s high $0.0.098536.

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

Failure to avoid a fall through the $0.09660 pivot would bring the first major support level at $0.09466 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer well clear of the second major support level at $0.09165.

Looking at the Technical Indicators

First Major Support Level: $0.09466

First Major Resistance Level: $0.09660

23.6% FIB Retracement Level: $0.09960

38% FIB Retracement Level: $0.14336518

62% FIB Retracement Level: $0.2050

Tron’s TRX

Tron’s TRX rose by 2.26% on Tuesday. Following on from a 0.94% gain on Monday, Tron’s TRX ended the day at $0.019179.

It was a mixed start to the day. Tron’s TRX rose to an early morning high $0.019031 before hitting reverse.

Falling short of the first major resistance level at $0.019040, Tron’s TRX slid to a late morning intraday low $0.018233.

Steering clear of the first major support level at $0.01791, Tron’s TRX rallied to a late intraday high $0.019500.

Tron’s TRX broke through the first major resistance level at $0.01940 before falling back to sub-$0.019 levels.

Finding late support, however, Tron’s TRX recovered to end the day at $0.019 levels.

At the time of writing, Tron’s TRX was up by 2.15% to $0.019591. A mixed start to the day saw Tron’s TRX rise fall to an early morning low $0.018989 before rising to a high $0.019729.

Tron’s TRX broke through the first major resistance level at $0.019710 early on.

TRX/USD 29/07/20 Hourly Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall through the $0.01897 pivot level to support another run at the first major resistance level at $0.01971.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.019729.

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

Failure to avoid a fall through the $0.01897 pivot level would bring the first major support level at $0.01844 into play.

Barring an extended crypto sell-off, Tron’s TRX should steer clear of sub-$0.018 levels. The second major support level sits at $0.01770.

Looking at the Technical Indicators

First Major Support Level: $0.01844

First Major Resistance Level: $0.01971

23.6% FIB Retracement Level: $0.0322

38.2% FIB Retracement Level: $0.0452

62% FIB Retracement Level: $0.0663

Please let us know what you think in the comments below

Thanks, Bob

The Crypto Daily – Movers and Shakers – July 29th, 2020

Bitcoin, BTC to USD, fell by 1.02% on Tuesday. Following Monday’s 11.01% breakout, Bitcoin ended the day at $10,932.

It was a mixed start to the day. Bitcoin rose to an early morning intraday high $11,263 before hitting reverse.

Falling short of the first major resistance level at $11,634, Bitcoin fell to a late morning intraday low $10,590.

Steering clear of the first major support level at $10,200, Bitcoin moved back through to $11,200 levels.

A bearish end to the day, however, saw Bitcoin give up the $11,000 handle to end the day in the red.

The near-term bullish trend remained intact, supported by the latest run at $11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Tuesday.

Ethereum joined Bitcoin in the red, with a 1.49% loss.

It was a bullish day for the rest of the majors, however.

Bitcoin Cash ABC and Cardano’s ADA led the way, with gains of 7.54% and 7.83% respectively.

Bitcoin Cash SV (+3.73%), EOS (+5.06%), Litecoin (+4.61%), Monero’s XMR (+3.77%), and Stellar’s Lumen (+3.66%) also found strong support.

Binance Coin (+2.27%), Ripple’s XRP (+2.67%), Tezos (+0.47%), and Tron’s TRX (+2.26%) trailed the front runners.

At the start of the week, the crypto total market cap rose from a Monday low $285.49bn to a high $335.80bn. At the time of writing, the total market cap stood at $315.11bn.

Bitcoin’s dominance rose from a Monday low 62.43% to a Tuesday high 64.57% before easing back. At the time of writing, Bitcoin’s dominance stood at 63.88%.

This Morning

At the time of writing, Bitcoin was down by 0.06% to $10,925. A mixed start to the day saw Bitcoin rise to an early morning high $10,994 before falling to a low $10,915.6.

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

Elsewhere, it was a mixed start to the day. Tezos was up by 0.10%, at the time of writing, to buck the trend.

It was a bearish start for the rest of the majors, however.

Cardano’s ADA was down by 1.85% to lead the way down.

BTC/USD 29/07/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through the $10,928 pivot to support a run at the first major resistance level at $11,267.

Support from the broader market would be needed, however, for Bitcoin to break back through to $11,200 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $11,263 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could eye the second major resistance level at $11,601.

Failure to move back through the $10,928 pivot level would bring the first major support level at $10,594 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer well clear of the second major support level at $10,255.

Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 28th, 2020

Litecoin

Litecoin rallied by 10.91% on Monday. Reversing a 2.21% slide from Sunday, Litecoin ended the day at $53.38.

It was a mixed start to the day. Litecoin rose to a mid-day high $49.70 before falling to a mid-afternoon intraday low $46.93.

Finding support at the first major support level at $46.92, Litecoin rallied to a late intraday high $56.27.

Litecoin broke through the day’s major resistance levels before pulling back.

The pullback saw Litecoin fall through the third major resistance level at $55.16 to wrap up the day at $53 levels.

At the time of writing, Litecoin was up by 0.96% to $53.89. A bullish start to the day saw Litecoin rise from an early morning low $53.59 to a high $54.07.

Litecoin left the major support and resistance levels untested early in the day.

LTC/USD 28/07/20 Daily Chart

For the day ahead

Litecoin would need to avoid a fall through the $52.19 pivot to support a run at the first major resistance level at $57.46.

Support from the broader market would be needed, however, for Litecoin to break out from Monday’s high $56.27.

Barring another crypto rally, the first major resistance level would likely cap any upside.

Failure to avoid a fall through the $52.19 pivot would bring the first major support level at $48.12 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$48 levels. The second major support level sits at $42.85.

Looking at the Technical Indicators

First Major Support Level: $48.12

First Major Resistance Level: $57.46

23.6% FIB Retracement Level: $

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen slid by 4.75% on Monday. Following on from a 1.42% decline on Sunday, Stellar’s Lumen ended the day at $0.09466.

It was a bullish start to the day. Stellar’s Lumen rose to an early morning intraday high $0.10044 before hitting reverse.

Falling short of the first major resistance level at $0.10419, Stellar’s Lumen slid to a mid-afternoon intraday low $0.088367.

Stellar’s Lumen fell through the first major support level at $0.09611 and the second major support level at $0.09288.

Finding late support, Stellar’s Lumen broke back through the second major support level to limit the downside on the day.

At the time of writing, Stellar’s Lumen was up 0.96% to $0.09557. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.09391 before rising to a high $0.09583.

Stellar’s Lumen left the major support and resistance levels untested early on.

XLM/USD 28/07/20 Daily Chart

For the day ahead

Stellar’s Lumen would need to avoid a fall back through the $0.09449 pivot to support a run at the first major resistance level at $0.10061.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Monday’s high $0.10044.

Barring a broad-based crypto rally, the first major resistance level and Monday’s high would likely limit any upside.

A fall through the $0.09449 pivot would bring the first major support level at $0.08854 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer well clear of the second major support level at $0.08242.

Looking at the Technical Indicators

First Major Support Level: $0.08854

First Major Resistance Level: $0.10061

23.6% FIB Retracement Level: $0.1051

38% FIB Retracement Level: $0.14336518

62% FIB Retracement Level: $0.2050

Tron’s TRX

Tron’s TRX rose by 0.94% on Monday. Reversing a 0.99% fall from Sunday, Tron’s TRX ended the day at $0.01876.

It was a mixed start to the day. Tron’s TRX rose to an early morning high $0.018978 before hitting reverse.

Falling short of the first major resistance level at $0.01921, Tron’s TRX slid to a mid-afternoon intraday low $0.017685.

Tron’s TRX fell through the first major support level at $0.01815 and the second major support level at $0.01772.

Finding late support, Tron’s TRX broke back through the support levels to strike a late intraday high $0.019177.

Tron’s TRX came within range of the first major resistance level at $0.01921 before tumbling back to $0.01820 levels.

Finding support at the first major support level at $0.01815, Tron’s TRX recovered to end the day in the green.

At the time of writing, Tron’s TRX was up by 0.56% to $0.018868. A bullish start to the day saw Tron’s TRX rise from an early morning low $0.018755 to a high $0.019031.

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

TRX/USD 28/07/20 Daily Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall through the $0.01854 pivot level to support another run at the first major resistance level at $0.01940.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.019013.

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

Failure to avoid a fall through the $0.01854 pivot level would bring the first major support level at $0.01791 into play.

Barring another extended crypto sell-off, Tron’s TRX should steer clear of sub-$0.017 levels. The second major support level at $0.01705 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.01791

First Major Resistance Level: $0.01940

23.6% FIB Retracement Level: $0.0322

38.2% FIB Retracement Level: $0.0452

62% FIB Retracement Level: $0.0663

Please let us know what you think in the comments below

Thanks, Bob

Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 27th, 2020

Litecoin

Litecoin fell by 2.21% on Sunday. Partially reversing an 11.43% rally from Saturday, Litecoin ended the week up by 12.77% to $48.14.

It was a mixed start to the day. Litecoin fell to an early morning low $48.08 before striking a late morning intraday high $50.79.

Falling short of the first major resistance level at $51.22, Litecoin fell to a late morning intraday low $47.64.

Steering clear of the first major support level at $45.67, Litecoin recovered to $48 levels to limit the downside.

At the time of writing, Litecoin was up by 0.98% to $48.61. A mixed start to the day saw Litecoin fall to an early morning low $48.02 before striking a high $48.72.

Litecoin left the major support and resistance levels untested early in the day.

LTC/USD 27/07/20 Hourly Chart

For the day ahead

Litecoin would need to move through the $48.86 pivot to support a run at the first major resistance level at $50.07.

Support from the broader market would be needed, however, for Litecoin to break back through to $50 levels.

Barring another crypto rally, the first major resistance level and Sunday’s high $50.79 would likely cap any upside.

Failure to move through the $48.86 pivot would bring the first major support level at $46.92 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$46 levels. The second major support level sits at $45.71.

Looking at the Technical Indicators

First Major Support Level: $46.92

First Major Resistance Level: $50.07

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen fell by 1.42% on Sunday. Partially reversing a 4.71% gain from Saturday, Stellar’s Lumen ended the week down by 0.99% to $0.09935.

It was a mixed start to the day. Stellar’s Lumen fell to an early morning low $0.09946 before striking a late morning intraday high $0.1058.

Stellar’s Lumen broke through the first major resistance level at $0.10286 and the second major resistance level at $0.10491.

Bearish through the remainder of the day, however, Stellar’s Lumen slid to a late intraday low $0.097719.

Steering clear of the first major support level at $0.09714, Stellar’s Lumen recovered to $0.099 levels to limit the loss.

At the time of writing, Stellar’s Lumen was down by 1.12% to $0.098239. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.09979 before falling to a low $0.098080.

Stellar’s Lumen left the major support and resistance levels untested early on.

XLM/USD 27/07/20 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move through the $0.10096 pivot to support a run at the first major resistance level at $0.10419.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from $0.1010 levels.

Barring a broad-based crypto rally, the first major resistance level and Sunday’s high $0.10580 would likely limit any upside.

Failure to move through the $0.10096 pivot would bring the first major support level at $0.09611 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer well clear of second major support level sits at $0.09288.

Looking at the Technical Indicators

First Major Support Level: $0.09611

First Major Resistance Level: $0.10419

23.6% FIB Retracement Level: $0.1051

38% FIB Retracement Level: $0.14336518

62% FIB Retracement Level: $0.2050

Tron’s TRX

Tron’s TRX fell by 0.99% on Sunday. Partially reversing a 3.98% gain from Saturday, Tron’s TRX ended the week up by 5.73% to $0.018585.

It was a mixed start to the day. Tron’s TRX fell to an early morning low $0.018557 before striking a late morning intraday high $0.019392.

Tron’s TRX broke through the first major resistance level at $0.01908 and the second major resistance level at $0.01936.

A late morning sell-off, however, saw Tron’s TRX slide to a mid-day intraday low $0.018339.

Steering clear of the first major support level at $0.01828, Tron’s TRX revisited $0.01870 levels before easing back.

At the time of writing, Tron’s TRX was up by 0.51% to $0.018680. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.018557 before rising to a high $0.018714.

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

TRX/USD 27/07/20 Hourly Chart

For the Day Ahead

Tron’s TRX would need to move through the $0.01877 pivot level to support a run at the first major resistance level at $0.01921.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.019 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.019392 would likely cap any upside.

Failure to move through the $0.01877 pivot level would bring the first major support level at $0.01815 into play.

Barring an extended crypto sell-off, Tron’s TRX should steer clear of sub-$0.018 levels. The second major support level sits at $0.01772.

Looking at the Technical Indicators

First Major Support Level: $0.01815

First Major Resistance Level: $0.01921

23.6% FIB Retracement Level: $0.0322

38.2% FIB Retracement Level: $0.0452

62% FIB Retracement Level: $0.0663

Please let us know what you think in the comments below

Thanks, Bob

The Crypto Daily – Movers and Shakers – July 27th, 2020

Bitcoin, BTC to USD, rose by 2.40% on Sunday. Following on from a 1.63% gain on Saturday, Bitcoin ended the week up by 7.77% to $9,948.4.

It was another mixed start to the day. Bitcoin slipped to an early morning intraday low $9,674.8 before rallying to a late morning intraday high $10,190.0.

Bitcoin broke through the day’s major resistance levels before falling back to sub-$9,900 levels.

The pullback saw Bitcoin fall back through the third major resistance level at $10,073 and the second major resistance level at $9,874.

Finding late support, however, Bitcoin broke back through the second major resistance level to end the day at $9,900 levels.

Resistance at $10,000 pinned Bitcoin back through the 2nd half of the day.

The near-term bullish trend remained intact in spite of the early July pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Sunday.

Monero’s XMR rallied by 6.16% to lead the way.

Cardano’s ADA (+3.43%), Ethereum (+1.90%), and Ripple’s XRP (+0.28%) also joined Bitcoin in the green.

It was a bearish day for the rest of the majors, however.

Bitcoin Cash SV (-2.93%), Litecoin (-2.21%), and Tezos (-2.22%) led the way down.

Binance Coin (-1.31%), Bitcoin Cash ABC (-1.29%), EOS (-0.60%), Stellar’s Lumen (-1.42%), and Tron’s TRX (-0.99%) also struggled.

It was also a mixed week for the majors.

Stellar’s Lumen fell by 0.99% to buck the trend for the week.

It was a bullish week for the rest of the majors, however, with Ethereum surging by 30.13% to lead the way.

Bitcoin Cash ABC (+11.20%), Cardano’s ADA (+19.80%), Litecoin (+12.77%), and Monero’s XMR (+13.35%) also found strong support.

Binance Coin (+8.66%), Bitcoin Cash SV (+9.46%), EOS (+4.88%), Ripple’s XPR (+7.80%), Tezos (+0.18%), and Tron’s TRX (+5.73%) trailed the front runners.

In the week, the crypto total market cap fell to a Monday low $262.70bn before hitting a Sunday high $305.28bn. At the time of writing, the total market cap stood at $295.57bn.

Bitcoin’s dominance rose to a Tuesday high 64.08% before sliding to a Sunday low 61.62%. At the time of writing, Bitcoin’s dominance stood at 62.40%.

This Morning

At the time of writing, Bitcoin was up by 0.55% to $10,003.0. A mixed start to the day saw Bitcoin fall to an early morning low $9,944.9 before striking a high $10,007.0.

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

Elsewhere, it was a mixed start to the day.

At the time of writing, Binance Coin and Tezos bucked the trend, with losses of 0.77% and 1.30% respectively.

It was a bullish start for the rest of the majors.

Ethereum was up by 1.79% to lead the way early on.

BTC/USD 27/07/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $9,938 pivot to support a run at the first major resistance level at $10,201.

Support from the broader market would be needed, however, for Bitcoin to break back through to $10,100 levels.

Barring another extended crypto rally, the first major resistance level and Sunday’s high $10,190 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $10,453.

Failure to avoid a fall through the $9,938 pivot level would bring the first major support level at $9,686 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer well clear of the second major resistance level at $9,423.

The Crypto Daily – Movers and Shakers – July 26th, 2020

Bitcoin, BTC to USD, rose by 1.63% on Saturday. Reversing a 0.58% loss from Friday, Bitcoin ended the day at $9,714.9.

It was bullish day, with Bitcoin rallying from an early morning intraday low $9,555.5 to a late intraday high $9,754.5.

Bitcoin broke through the first major resistance level at $9,645.5 and second major resistance level at $9,731.9 before easing back.

A late pullback saw Bitcoin fall back to sub-$9,700 levels before wrapping up the day at $9,700 levels.

The near-term bullish trend remained intact in spite of the early July pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish day on Saturday.

Cardano’s ADA rallied by 17.76% to lead the way.

Bitcoin Cash ABC (+6.00%), Bitcoin Cash SV (+7.59%), Ethereum (+9.30%), and Litecoin (+11.43%) also made strong gains.

Binance Coin (+3.38%), EOS (+4.99%), Monero’s XMR (+2.55%), Ripple’s XRP (+5.23%), Stellar’s Lumen (+4.71%), Tezos (+0.89%), and Tron’s TRX (+3.98%) trailed the front runners.

In the current week, the crypto total market cap fell to a Monday low $262.70bn before hitting a Saturday high $291.48bn. At the time of writing, the total market cap stood at $287.68bn.

Bitcoin’s dominance rose to a Tuesday high 64.08% before sliding to a Saturday low 61.70%. At the time of writing, Bitcoin’s dominance stood at 62.07%.

This Morning

At the time of writing, Bitcoin was down by 0.19% to $9,696.5. A mixed start to the day saw Bitcoin rise to an early morning high $9,722.8 before falling to a low $9,690.4.

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

Elsewhere, it was a mixed start to the day.

At the time of writing, Bitcoin Cash ABC (+0.92%) and Bitcoin Cash SV (+0.33%) bucked the trend early on.

It was a bearish start for the rest of the majors, however.

Stellar’s Lumen was down by 1.35% to lead the way down early on.

https://www.tradingview.com/x/ztgae3yU/

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $9,675 pivot to support a run at the first major resistance level at $9,794.

Support from the broader market would be needed, however, for Bitcoin to break out from Saturday’s high $9,754.5.

Barring another extended crypto rally, the first major resistance level and Saturday’s high would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $9,874 and resistance at $10,000. The third major resistance level sits at $10,073.

Failure to avoid a fall through the $9,675 pivot level would bring the first major support level at $9,595 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of the second major resistance level at $9,476.

The Crypto Daily – Movers and Shakers – July 25th, 2020

Bitcoin, BTC to USD, fell by 0.58% on Friday. Reversing a 0.60% gain from Thursday, Bitcoin ended the day at $9,559.1.

It was a bearish start to the day. Bitcoin fell to a mid-morning intraday low $9,469.7 before making a move.

The pullback saw Bitcoin fall through the first major support level at $9,498.20.

Finding support through the afternoon, Bitcoin rallied to a late intraday high $9,644.0 before hitting reverse.

Falling short of the first major resistance level at $9,708.6, Bitcoin fell back to sub-$9,600 levels to end the day in the red.

The near-term bullish trend remained intact in spite of the early July pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Friday.

Binance Coin (+2.24%), Ethereum (+1.46%), and Tron’s TRX (+0.16%) bucked the trend on the day.

It was a bearish day for the rest of the majors, however.

Tezos slid by 5.00% to lead the way down.

Bitcoin Cash SV (-2.47%), EOS (-1.99%), Ripple’s XRP (-2.07%), and Stellar’s Lumen (-2.98%) also struggled.

Bitcoin Cash ABC (-0.55%), Cardano’s ADA (-1.78%), Litecoin (-1.82%), and Monero’s XMR (-1.74%) saw relatively modest losses.

In the current week, the crypto total market cap fell to a Monday low $262.70bn before hitting a Thursday high $286.03bn. At the time of writing, the total market cap stood at $280.82bn.

Bitcoin’s dominance rose to a Tuesday high 64.08% before sliding to a Friday low 62.46%. At the time of writing, Bitcoin’s dominance stood at 62.76%.

This Morning

At the time of writing, Bitcoin was up by 0.10% to $9,568.6. A bullish start to the day saw Bitcoin rise from an early morning low $9,559.0 to a high $9,572.5

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

Elsewhere, it was a mixed start to the day.

Bitcoin Cash ABC (-0.22%), Bitcoin Cash SV (-0.19%), and Monero’s XMR (-0.04%) saw red to buck the trend early on.

It was a bullish start to the day for the rest of the majors, however.

At the time of writing, Cardano’s ADA was up by 2.22% to lead the way.

BTC/USD 25/07/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $9,558 pivot to support a run at the first major resistance level at $9,646.

Support from the broader market would be needed, however, for Bitcoin to break back through to $9,600 levels.

Barring an extended crypto rally, the first major resistance level and Friday high $9,644 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $9,732 before any pullback.

Failure to avoid a fall through the $9,558 pivot level would bring the first major support level at $9,471 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of the second major resistance level at $9,383.

The Crypto Daily – The Movers and Shakers – July 24th, 2020

Bitcoin, BTC to USD, rose by 0.60% on Thursday. Following on from a 1.65% rally on Wednesday, Bitcoin ended the day at $9,615.0.

It was a bearish first half of the day. Bitcoin fell to an early afternoon intraday low $9,475.0 before making a move.

Steering clear of the first major support level at $9,361, Bitcoin rallied to a late afternoon intraday high $9,685.4.

Bitcoin came within range of the first major resistance level at $9,698.4 before falling back to sub-$9,600 levels.

Finding late support, however, Bitcoin moved back through to $9,600 levels to deliver the upside on the day.

The near-term bullish trend remained intact in spite of the early July pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Thursday.

Binance Coin and Ethereum rallied by 3.64% and by 4.31% respectively to lead the way.

Bitcoin Cash SV (+0.02%), Cardano’s ADA (+0.38%), Monero’s XMR (+2.54%), Ripple’s XRP (+2.30%), Stellar’s Lumen (+0.88%), and Tezos (+2.54%) also found support.

Bitcoin Cash ABC (-0.48%), EOS (-0.43%), Litecoin (-0.18%), and Tron’s TRX (-0.48%) bucked the trend on the day.

In the current week, the crypto total market cap fell to a Monday low $262.70bn before rising to a Thursday high $286.03bn. At the time of writing, the total market cap stood at $281.11n.

Bitcoin’s dominance rose to a Tuesday high 64.08% before sliding to a Thursday low 62.47. At the time of writing, Bitcoin’s dominance stood at 62.93%.

This Morning

At the time of writing, Bitcoin was down by 0.24% to $9,592.0. A bearish start to the day saw Bitcoin fall from an early morning high $9,615.5 to a low $9,585.7.

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

Elsewhere, it was another mixed start to the day. At the time of writing, Binance Coin was up by 0.04% to buck the trend.

It was a bearish start for the rest of the majors, with Tezos down by 1.36% to lead the way down.

BTC/USD 24/07/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall back through the $9,592 pivot to support a run at the first major resistance level at $9,709.

Support from the broader market would be needed, however, for Bitcoin to break out from Thursday’s high $9,685.4.

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

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $9,802.2 before any pullback.

Failure to avoid a fall back through the $9,592 pivot level would bring the first major support level at $9,500 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer well clear of sub-$9,300 levels. The second major resistance level at $9,381.4 should limit any downside.

Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 23rd, 2020

Litecoin

Litecoin rose by 2.83% on Wednesday. Following a 4.53% rally on Tuesday, Litecoin ended the day at $45.02.

It was a mixed start to the day. Litecoin rose to an early morning high $44.00 before hitting reverse.

Falling short of the first major resistance level at $44.66, Litecoin fell to a late morning intraday low $43.22.

Steering clear of the first major support level at $42.45, Litecoin recovered to a late intraday high $45.17.

Litecoin fell broke through the first major resistance level at $44.66 to wrap up the day at $45 levels.

At the time of writing, Litecoin was up by 1.00% to $45.47. A bullish start to the day saw Litecoin rise from an early morning low $44.96 to a high $45.75.

Litecoin came up against the first major resistance level at $45.72 earl in the day.

LTC/USD 23/07/20 Daily Chart

For the day ahead

Litecoin would need to avoid a fall through the $44.50 pivot to support another run at the first major resistance level at $45.72.

Support from the broader market would be needed, however, for Litecoin to break back through to $45.70 levels.

Barring another crypto rally, the first major resistance level and the morning high $45.75 would likely cap any upside.

Failure to avoid a fall through the $44.50 pivot would bring the first major support level at $43.77 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$43 levels. The second major support level sits at $42.52.

Looking at the Technical Indicators

First Major Support Level: $43.77

First Major Resistance Level: $45.72

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen gained 1.10% on Wednesday. Following on from a 2.59% rally on Tuesday, Stellar’s Lumen ended the day at $0.097241.

It was a mixed start to the day. Stellar’s Lumen rose to an early morning high $0.096339 before hitting reverse.

Falling short of the first major resistance level at $0.09887, Stellar’s Lumen slid to a late morning intraday low $0.094291.

Finding support the first major support level at $0.09439, Stellar’s Lumen rallied to a late intraday high $0.098196.

Coming up short of the first major resistance level at $0.09887, Stellar’s Lumen eased back to sub-$0.09750 levels.

At the time of writing, Stellar’s Lumen was up by 2.12% to $0.099306. A bullish start to the day saw Stellar’s Lumen rise from an early morning low $0.09737 to a high $0.099396.

Stellar’s Lumen broke through the first major resistance level at $0.09886.

XLM/USD 23/07/20 Daily Chart

For the day ahead

Stellar’s Lumen would need to avoid a fall through the first major resistance level to support a run at the second major resistance level at $0.10048.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.099306.

Barring another broad-based crypto rally, the second major resistance level would likely limit any upside.

Failure to avoid a fall through the first major resistance level at $0.9886 would bring sub-$0.097 levels into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should avoid the pivot level at $0.09658. The first major support level sits at $0.09496.

Looking at the Technical Indicators

First Major Support Level: $0.09496

First Major Resistance Level: $0.09886

23.6% FIB Retracement Level: $0.1051

38% FIB Retracement Level: $0.14336518

62% FIB Retracement Level: $0.2050

Tron’s TRX

Tron’s TRX rose by 2.25% on Wednesday. Following a 2.42% rally on Tuesday, Tron’s TRX ended the day at $0.017984.

It was a mixed start to the day. Tron’s TRX rose to an early morning high $0.017630 before hitting reverse.

Falling short of the first major resistance level at $0.01786, Tron’s TRX fell to a mid-morning intraday low $0.017425.

Steering clear of the first major support level at $0.01732, Tron’s TRX rallied to a late intraday high $0.018001 before easing back.

Tron’s TRX broke through the first major resistance level at $0.01786 before easing back to sub-$0.018 levels.

The second major resistance level at $0.01807 capped the upside on the day.

At the time of writing, Tron’s TRX was up by 0.42% to $0.018059. A bullish start to the day saw Tron’s TRX rise from an early morning low $0.017968 to a high $0.018100.

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

TRX/USD 23/07/20 Daily Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall through the $0.01780 pivot level to support another run at the first major resistance level at $0.018180.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.01810.

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

Failure to avoid a fall through the $0.01780 pivot level would bring the first major support level at $0.01761 into play.

Barring another extended crypto sell-off, Tron’s TRX should steer clear of sub-$0.01720 levels. The second major support level at $0.01723 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.01761

First Major Resistance Level: $0.01818

23.6% FIB Retracement Level: $0.0322

38.2% FIB Retracement Level: $0.0452

62% FIB Retracement Level: $0.0663

Please let us know what you think in the comments below

Thanks, Bob

Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 22nd, 2020

Litecoin

Litecoin rallied by 4.53% on Tuesday. Reversing a 1.69% loss from Monday, Litecoin ended the day at $43.83.

It was a bullish start to the day. Litecoin rallied from an early morning intraday low $41.89 to a mid-day intraday high $44.10.

Litecoin broke through the first major resistance level at $42.72 and the second major resistance level at $43.48.

In the 2nd half of the day, Litecoin slipped back to sub-$43.50 levels before closing out the day at $43.80 levels. The second major resistance level at $43.48 limited the downside late in the day.

At the time of writing, Litecoin was down by 0.02% to $43.82. A mixed start to the day saw Litecoin fall to an early morning low $43.53 before rising to a high $44.00.

Litecoin left the major support and resistance levels untested early in the day.

LTC/USD 22/07/20 Daily Chart

For the day ahead

Litecoin would need to avoid a fall through the $43.27 pivot to support a run at the first major resistance level at $44.66.

Support from the broader market would be needed, however, for Litecoin to break out from Tuesday’s high $44.10.

Barring another crypto rally, the first major resistance level and Tuesday’s high $44.10 would likely cap any upside.

Failure to avoid a fall through the $43.27 pivot would bring the first major support level at $42.45 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$40 levels. The second major support level at $41.06 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $42.45

Major Resistance Level: $44.66

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen rose by 2.59% on Tuesday. Partially reversing a 5.63% slide from Monday, Stellar’s Lumen ended the day at $0.096744.

It was also a bullish start to the day. Stellar’s Lumen rose from an early morning low $0.09430 to a late morning intraday high $0.09863 before hitting reverse.

Falling short of the first major resistance level at $0.09980, Stellar’s Lumen slid to a late intraday low $0.094153.

Steering clear of the first major support level at $0.09165, Stellar’s Lumen moved back through to $0.096 levels.

At the time of writing, Stellar’s Lumen was down by 0.97% to $0.095806. A bearish start to the day saw Stellar’s Lumen fall from an early morning high $0.09618 to a low $0.095503.

Stellar’s Lumen left the major support and resistance levels untested early on.

XLM/USD 22/07/20 Daily Chart

For the day ahead

Stellar’s Lumen would need to move through the $0.09651 pivot to support a run at the first major resistance level at $0.09887.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.098 levels.

Barring another broad-based crypto rally, the first major resistance level and Tuesday’s high $0.09863 would likely limit any upside.

Failure to move through the $0.09651 pivot would bring the first major support level at $0.09439 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should avoid sub-$0.090 levels. The second major support level at $0.09203 should limit the downside.

Looking at the Technical Indicators

Major Support Level: $0.09439

Major Resistance Level: $0.09887

23.6% FIB Retracement Level: $0.1051

38% FIB Retracement Level: $0.14336518

62% FIB Retracement Level: $0.2050

Tron’s TRX

Tron’s TRX rallied by 2.42% on Tuesday. Reversing a 2.24% slide from Monday, Tron’s TRX ended the day at $0.01765.

It was a mixed start to the day. Tron’s TRX fell to an early morning intraday low $0.017209 before making a move.

Steering clear of the first major support level at $0.01689, Tron’s TRX rallied to a late morning intraday high $0.017746.

Tron’s TRX broke through the first major resistance level at $0.01755 before easing back to sub-$0.01760 levels.

Finding support at the first major resistance level, Tron’s TRX recovered to $0.0176 levels late in the day.

At the time of writing, Tron’s TRX was down by 0.25% to $0.017605. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.017571 before rising to a high $0.017605.

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

TRX/USD 22/07/20 Daily Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall through the $0.01754 pivot level to support a run at the first major resistance level at $0.01786.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Tuesday high $0.017746.

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

Failure to avoid a fall through the $0.01754 pivot level would bring the first major support level at $0.01732 into play.

Barring another extended crypto sell-off, Tron’s TRX should steer clear of sub-$0.017 levels. The second major support level at $0.01700 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $0.01732

Major Resistance Level: $0.01786

23.6% FIB Retracement Level: $0.0322

38.2% FIB Retracement Level: $0.0452

62% FIB Retracement Level: $0.0663

Please let us know what you think in the comments below

Thanks, Bob

The Crypto Daily – Movers and Shakers – July 22nd, 2020

Bitcoin, BTC to USD, rallied by 2.43% on Tuesday. Reversing a 0.56% decline from Monday, Bitcoin ended the day at $9.402.0.

It was a bullish start to the day. Bitcoin rallied from an early morning intraday low $9,174.4 to an early afternoon intraday high $9,457.2.

Bitcoin broke through the major resistance levels before falling back to $9,340 levels.

The pullback saw Bitcoin fall through the third major resistance level at $9,358.03 before returning to $9,400 levels.

Resistance at $9,400 capped the upside late in the day.

The near-term bullish trend remained intact in spite of the early July pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish day on Tuesday.

Tezos led the way, rallying by 9.29%.

Bitcoin Cash SV (+5.60%), Cardano’s ADA (+4.66%), Ethereum (+4.13%), Litecoin (+4.53%), also found strong support.

Binance Coin (+1.43%), Bitcoin Cash ABC (+2.60%), EOS (+2.32%), Monero’s XMR (+0.68%), Ripple’s XRP (+2.53%), Stellar’s Lumen (+2.59%), and Tron’s TRX (+2.42%) trailed the front runners.

At the start of the week, the crypto total market cap fell to a Monday low $262.70bn before striking a Tuesday high $274.62bn. At the time of writing, the total market cap stood at $270.71bn.

Bitcoin’s dominance fell to a Monday low 63.20% before rising to a Tuesday high 64.08%. At the time of writing, Bitcoin’s dominance stood at 63.76%.

This Morning

At the time of writing, Bitcoin was down by 0.30% to $9,373.9. A bearish start to the day saw Bitcoin fall from an early morning high $9,402.1 to a low $9,373.9.

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

Elsewhere, it was a mixed start to the day. Monero’s XMR bucked the trend at the time of writing, rising by 0.03%.

It was bearish for the rest of the majors, with Tezos down by 1.60% to lead the way down.

BTC/USD 22/07/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $9,345 pivot to support a run at the first major resistance level at $9,515.

Support from the broader market would be needed, however, for Bitcoin to break out from Tuesday’s high $9,457.2.

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

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $9,627 before any pullback.

Failure to avoid a fall through the $9,345 pivot level would bring the first major support level at $9,232 into play.

Barring an extended crypto sell-off, however, Bitcoin should avoid sub-$9,100 levels. The second major resistance level sits at $9,062.

Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 21st, 2020

Litecoin

Litecoin slid by 1.69% on Monday. Reversing a 0.42% gain from Sunday, Litecoin ended the day at $41.97.

It was another mixed start to the day. Litecoin rose to an early morning intraday high $42.84 before hitting reverse.

Falling short of the first major resistance level at $43.09, Litecoin slid to a late intraday low $41.45.

Litecoin fell through the first major support level at $42.05 before briefly revisiting $42 levels.

The second major support level at $41.44 limited the downside on the day.

At the time of writing, Litecoin was up by 0.71% to $42.27. A bullish start to the day saw Litecoin rise from an early morning low $41.89 to a high $42.27.

Litecoin left the major support and resistance levels untested early in the day.

LTC/USD 21/07/20 Daily Chart

For the day ahead

Litecoin would need to avoid a fall back through the $42.10 pivot to support a run at the first major resistance level at $42.72.

Support from the broader market would be needed, however, for Litecoin to break out from $42.50 levels.

Barring another crypto rally, the first major resistance level and Monday’s high $42.84 would likely cap any upside.

Failure to avoid a fall back through the $42.10 pivot would bring the first major support level at $41.33 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$40 levels. The second major support level at $40.70 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $41.33

Major Resistance Level: $42.72

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen slid by 5.63% on Monday. Following on from a 0.48% decline on Sunday, Stellar’s Lumen ended the day at $0.094695.

A bullish start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.10186 before hitting reverse.

Falling short of the first major resistance level at $0.10288, Stellar’s Lumen slid to a late intraday low $0.093715.

Stellar’s Lumen fell through the first major support level at $0.09746 and the second major support level at $0.09448.

Finding late support, Stellar’s Lumen moved back through the second major support level to reduce the deficit.

At the time of writing, Stellar’s Lumen was up by 0.77% to $0.095428. A bullish start to the day saw Stellar’s Lumen rise from an early morning low $0.094300 to a high $0.095671.

Stellar’s Lumen left the major support and resistance levels untested early on.

XLM/USD 21/07/20 Daily Chart

For the day ahead

Stellar’s Lumen would need to move through the $0.09676 pivot to support a run at the first major resistance level at $0.09980.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.099 levels.

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

Failure to move through the $0.09676 pivot would bring the first major support level at $0.09165 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should avoid sub-$0.090 levels. The second major support level sits at $0.08861.

Looking at the Technical Indicators

Major Support Level: $0.09165

Major Resistance Level: $0.9980

23.6% FIB Retracement Level: $0.1051

38% FIB Retracement Level: $0.14336518

62% FIB Retracement Level: $0.2050

Tron’s TRX

Tron’s TRX slid by 2.24% on Monday. Reversing a 0.68% gain from Sunday, Tron’s TRX ended the day at $0.017184.

It was a mixed start to the day. Tron’s TRX rose to an early morning intraday high $0.017613 before hitting reverse.

Falling short of the first major resistance level at $0.01771 Tron’s TRX slid to a late intraday low $0.016951.

Tron’s TRX fell through the first major support level at $0.01731 and the second major support level at $0.01705.

Finding late support, Tron’s TRX moved back through the second major support level to reduce the loss on the day.

At the time of writing, Tron’s TRX was down by 0.44% to $0.017260. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.017213 before rising to a high $0.017260.

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

TRX/USD 21/07/20 Daily Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall back through the $0.01725 pivot level to support a run at the first major resistance level at $0.01755.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.01750 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $0.017613 would likely cap any upside.

Failure to avoid a fall back through the $0.01725 pivot level would bring the first major support level at $0.01689 into play.

Barring another extended crypto sell-off, Tron’s TRX should steer clear of the second major support level at $0.01659.

Looking at the Technical Indicators

Major Support Level: $0.01689

Major Resistance Level: $0.01755

23.6% FIB Retracement Level: $0.0322

38.2% FIB Retracement Level: $0.0452

62% FIB Retracement Level: $0.0663

Please let us know what you think in the comments below

Thanks, Bob

Bitcoin and Ether see Signs of Bullish Movement?

Bitcoin has risen 7% over the past week. Trade volume in the Bitcoin network has increased by 17% over the last day. The Crypto Fear & Greed Index rebounded by 7 points during the day, switching from “extreme fear” to “fear” mode. This is quite a significant result, as the index has been extremely depressed since mid-March. The altcoins from the top ten show mixed dynamics waiting for new triggers.

From the technical analysis, the bulls got the upper hand as BTCUSD closed above the 50-day average on the daily charts last week. In February 2019, the same signal flagged the start of the 4-month rally, that quadrupled the Bitcoin’s price.

The leading altcoin Ethereum (ETH) rose over the week by more than 7%, approaching the $200 threshold. The technical picture for ETH is even more optimistic. Last week the Ethereum gained ground above the 50 and 200-day averages.

Although this is not even close to the 2017 levels, the coin has returned to its growth track. And this cryptocurrency has every reason to do so, as the project is beneficial for the digital sector. Tezos (XTZ), Cardano (ADA), and Stellar (XLM) also show significant growth over the week with +16%, +25%, and +20% respectively.

There are only a few weeks left before halving, but so far, the main result of such an essential event for Bitcoin approaching, is that investors are holding on to their positions. The rapid attack of $8000 could be a breath of fresh air for the first cryptocurrency and can open new horizons. However, we are witnessing only super cautious optimism among market participants. Everyone understands that central banks are desperately trying to support the economy, and they are doing so at the expense of the future.

Nevertheless, Pandora’s Box is open, and the unpleasant truth is that central banks and governments are only trying to put out the fire. The quarantine cannot last forever, sooner or later, everyone will have to work in the new high-risk environment before another outbreak of the disease. The question is: how many waves of the epidemic will the global economy withstand?

Cryptocurrencies will likely be just as vulnerable to global threats as other assets of any kind. However, the difference may lie in the future. After all, some assets may lose their buyers forever, while others will build a new structure on the ruins. In the new economy, there will be a much larger space for purely digital projects.

Of course, no one needs most of the existing cryptocurrencies. Still, given the global trend towards self-isolation and the tighter digital control, many of the current leaders in the crypto market will take their place even (and especially) after the emergence of national cryptocurrencies.

 by Alex Kuptsikevich, the FxPro senior financial analyst. 

The Crypto Daily – The Bears Take a Bite. It’s not for the Faint-hearted…

There was more shaking than moving across the cryptomarket going into the weekend.

For Bitcoin, following 8 days in the green out of the last 10, investors looked to lock in some sizeable gains.

Bitcoin fell by 3.35% on Thursday. Reversing a 2.32% gain from Wednesday, Bitcoin ended the day at $7,859.7.

A bullish start to the day saw Bitcoin rise to an intraday high and new swing hi $8,352.3 before hitting reverse.

Breaking through the first major resistance level at $8,286.23, Bitcoin slid to a late intraday low $7,700.1 before finding support.

The reversal saw Bitcoin slide through the first major support level at $7,909.73 and end the day back at sub-$8,000 levels.

The Rest of the Pack,

Across the rest of the top 10 cryptos, it was a mixed bag on Thursday.

Bucking the trend on the day were Ethereum and EOS, which gained 6.18% and 0.89% respectively.

For the rest of the pack, it was a day in the red with Ripple’s XRP, Litecoin and Cardano’s ADA seeing the heaviest losses on the day. Ripple’s XRP slid by 8.16%, while Litecoin and Cardano’s ADA fell by 6.36% and 6.04% respectively.

The speed of the rally raised questions over its sustainability, momentum rallies having previously led to sharp reversals.

Concentrated sell-orders were attributed to the sudden reversal that continued into this morning.

Momentum trading has been in full effect since Bitcoin woke from its deep sleep back at a current year low $3,405.3 struck in early February.

News of the sizeable sell-orders, reportedly in Asia, likely led to investors globally offloading to lock in gains made over the last few months.

The total market cap fell back to $251.72bn having topped out at $263.9bn earlier in the day on Thursday.

A warning signal on Thursday was a sudden rise and then slide in 24-hour trading volumes. With 24-trading volumes falling from $123.36bn, price support has been on the decline alongside, supporting the moves seen in the early hours of this morning.

This Morning,

At the time of writing, Bitcoin was down by 8.13% to $7,221.0. The early sell-off saw Bitcoin slide from a morning high $7,910 to a low $6,999.9 before steadying.

The reversal saw Bitcoin slide through the first major support level at $7.589.10 and second major support level at $7.318.5.

Falling well short of the major resistance levels, the reversal also saw Bitcoin slide through the 23.6% FIB of $7,140 before support kicked in.

BTC/USD 17/05/19 Daily Chart

Elsewhere, it was a bloodbath… as investors jumped for the sell-button in a bid to lock in some frothy gains.

Leading the slide were Stellar’s Lumen and Bitcoin Cash ABC, with losses of 10.91% and 10.21% respectively. Things were not much better for Ethereum, following Thursday’s trend-bucking gains. Ethereum was down by 9.5% at the time of writing.

EOS saw the most modest of losses in the early hours, down by a whopping 8.38%…

As for the total crypto market cap, it’s down to $229bn with the 24-hour trading volume down at $108.10bn…

For the Day Ahead,

It’ll be all eyes on Bitcoin. A pullback to sub-$7,000 levels and expect the sell-off to gather pace.

While the morning losses are heavy, it’s not all doom and gloom… For the current week, Bitcoin is still up 19.8%. That could halve if there is any move back towards the morning low.

Holding above the 23.6% FIB of $7,140 will be key. A fall through the $7,140 would not just be an alarm bell for Bitcoin…

Get Into Cryptocurrency Trading Today

Bitcoin – Stuck in a New Range. Break Out or Break Down!

Bitcoin fell by 0.15% on Thursday. Reversing a 0.08% gain from Wednesday, Bitcoin ended the day at $3,894.0.

A relatively bullish morning saw Bitcoin rise from a start of a day morning low $3,891.0 to a morning high $3,956.6 before easing back.

Bitcoin held onto $3,900 levels through to the early afternoon before a pullback to an early afternoon intraday low $3,875.0. Steering clear of the first major support level at $3,796.2, Bitcoin struck an intraday high $3,988.0 before easing back to $3,800 levels.

The afternoon rally saw bitcoin break through the first major resistance level at $3,969.0 before falling back. It was the 4th consecutive day on which Bitcoin failed to touch $4,000 levels.

For the current week, Bitcoin was up 1.63%, Monday through Thursday.

Elsewhere

Across the top 10 cryptos, it was a mixed bag. Binance led the way on the day, rallying by 4.26%. Stellar’s Lumen, Litecoin and Ripple’s XRP also made decent progress. Ethereum closed out the day flat, while Tron’s TRX and EOS saw red alongside Bitcoin and Bitcoin Cash.

In contrast, EOS was the only one of the top 10 to be sitting in the red for the current week. Following some heavy gains of late, EOS was down by 1.16% Monday through Thursday. Leading the pack was Ripple’s XRP, which was up 5.56%, with Litecoin close behind, up by 4.29%.

There were no major news events to provide direction for Bitcoin and the broader market through the day on Thursday. The ongoing speculation over whether Bitcoin has bottomed continued to do its rounds.

For the broader market, the next catalyst remains the SEC’s decision on the review of the VanEck Bitcoin ETF. The decision is due any time now and an approval would certainly provide the bulls with some much-needed support.

For now, Bitcoin has fallen victim to a new tight range. If there is no breakthrough $4,000 to $4,500, there could be another return to $3,200 levels. Tight ranges have rarely provided the bulls with much joy of late…

Get Into Cryptocurrency Trading Today

At the time of writing, Bitcoin was up by 0.22% to $3,902.5. Another range-bound start to the day saw Bitcoin rise from a morning low $3,893 to a high $3,908.9. The day’s major support and resistance levels were left untested early on.

BTC/USD 01/03/19 Daily Chart

For the day ahead

A move back through to $3,920 levels would see Bitcoin take a run at the first major resistance level at $3,963.0. With Bitcoin facing plenty of resistance at $4,000, Bitcoin could fall short of $4,000 levels for a 4th consecutive day. Support from the broader-market would be needed for Bitcoin to take a run at the second major resistance level at $4,032 on the day.

Failure to move through to $3,920 levels could see Bitcoin hit reverse later in the day. A fall through the morning low $3,893 would bring the first major support level at $3,850 into play. Barring a broad-based sell-off, Bitcoin would likely remain within its tight ranges through the day.

Stellar’s Lumen Technical Analysis – Hits Reverse – 12/09/18

Key Highlights

  • Stellar’s Lumen rallied 5.03% on Tuesday, bucking the trend across the broader market, to end the day at $0.2007.
  • An afternoon pullback through the first major support level at $0.1865 to an intraday low and new swing lo $0.18189, called on support at the second major support level at $0.1818 before recovering.
  • Stellar’s Lumen rallied from the day low to an intraday high $0.21, breaking through the day’s major resistance levels before easing back through the third major resistance level at $0.2086 late in the day.
  • The extended bearish trend remained intact, with Stellar’s Lumen continuing to fall short of the 38.2% FIB Retracement Level of $0.2469

How to Buy Stellar’s Lumen

Stellar’s Lumen Price Support

Stellar’s Lumen bucked the trend across the broader market on Tuesday, rallying 5.03% off the back of a 0.5% rise on Monday, to end the day at $0.2007.

A relatively range bound start to the day saw Stellar’s Lumen move through to a morning high $0.19437 to come within reach of the day’s first major resistance level at $0.1954 before easing back. A late morning pullback saw Stellar’s Lumen slide through the day’s first major support level at $0.1865 to an intraday low and new swing low $0.18189, calling on support at the second major support level at $0.1818 before recovering.

Bucking the trend across the broader market, Stellar’s Lumen rallied through the late afternoon to an intraday high $0.21, breaking through the day’s major resistance levels before easing back through the third major resistance level at $0.2086 late in the day.

While the rest of the crypto majors were left languishing, Stellar’s Lumen managed to hold on to $0.20 levels to avoid a pullback through the first and second major resistance levels by the day’s end.

In spite of the day’s gain and hold on to $0.20 levels, the extended bearish trend remained intact with Tuesday’s new swing lo and with Stellar’s Lumen continuing to fall short of the 38.2% FIB Retracement Level of $0.2469.

At the time of writing, Stellar’s Lumen was down 4.47% to $0.19141, with the heavier losses coming off the back of Tuesday’s rally, a continued broad based market sell-off doing the damage in the early hours.

Stellar’s Lumen slid from an early morning high $0.020208 to a low $0.19, the moves through the early morning leaving the major support and resistance levels untested.

For the day ahead, a move back through $0.1975 would support another run at $0.20 levels, though for Stellar’s Lumen to take a run at $0.21 levels for a 2nd consecutive day to bring the day’s first major resistance level at $0.2132 into play, sentiment across the broader market will need to materially improve, the markets being hit with yet more bad news at the start of the week.

Failure to move back through to $0.1975 could see Stellar’s Lumen take a bigger hit later in the day, with a pullback through the morning low $0.19 bringing sub-$0.19 levels and the day’s first major support level at $0.1851 into play, Stellar’s Lumen still having more to give up.

We will expect some support to kick in as the market reaction to the latest court ruling on ICOs washes out, though a recovery of the day’s losses ahead of tomorrow’s EU finance ministers’ meeting may prove to be a step too far.

XLM/USD 12/09/18 Daily Chart

Looking at the Technical Indicators

Major Support Level: $0.1851

Major Resistance Level: $0.2132

Fib 23.6% Retracement Level: $0.222

Fib 38% Retracement Level: $0.2469

Fib 62% Retracement Level: $0.2870