Altcoins Weekly Analysis – ADA, BNB, and EOS – 14/04/19

After a bearish week, the majors kick off the week in the green. A move through key levels would be needed, however, for a return to positive ways.
Ripple, Dash coin, Bitcoin, Monero and Ethereum

Cardano’s ADA

Cardano’s ADA fell by 7.8% in the week ending 13th April. Partially reversing a 24.18% surge from the previous week, Cardano’s ADA ended the week at $0.08365.

A positive start to the week saw Cardano’s ADA strike a Sunday intraweek high $0.095515 before hitting reverse. Falling short of the week’s major resistance levels, Cardano’s ADA slid to an intraweek low $0.07592. A broad-based crypto sell-off did the damage on Thursday, with Cardano’s ADA falling by 6.5% on the day.

Cardano’s ADA was able to steer clear of the major support levels, however, to move back through to $0.08 levels.

The relatively bearish week delivered Cardano’s ADA  with its first weekly loss in 8-weeks.

For the week ahead,

A move through $0.085 levels in the early part of the week would bring $0.090 levels back into play. Cardano’s ADA  would need support from the broader market, however, to take a run at the first major resistance level at $0.0941.

In the event of a broad-based crypto rebound, Cardano’s ADA would likely return to $0.10 levels before any pullback. We would expect the second major resistance level at $0.1046 to cap the upside in the week, however.

Failure to move through $0.085 to $0.090 levels could see Cardano’s ADA  take another hit in the week ahead.

A pullback through to $0.070 levels would bring the first major support level at $0.0745 into play before any recovery.

Barring another crypto sell-off, however, we would expect Cardano’s ADA to continue to avoid sub-$0.060 levels.

In the event of a meltdown, the second major support level at $0.0654 would likely limit the losses for the week.

At the time of writing, Cardano’s ADA was up 0.4% to $0.083983.

Binance

Binance fell by 2.18% in the week ending 14th April. Partially reversing an 11.9% rally from the previous week, Binance ended the week at $18.82.

Bearish through most of the week, Binance fell from a start of a week intraweek high $20.11 to an intraweek low $16.34.

In spite of the sell-off through to a Thursday low, Binance left the major support and resistance levels untested. Finding support on Friday through to the end of Saturday, Binance managed to recover to $19 levels before easing back.

For the week ahead,

A hold above $18.5 levels in the early part of the week would support a return to positive ways. Support from the broader market would likely see Binance return to $19 levels before any pullback. Barring a broad-based crypto rebound, however, we would expect Binance to come up short of the first major resistance level at $20.51.

In the event of a crypto rally, we would expect the second major resistance level at $22.19 to cap the upside for the week.

Failure to hold above $18.5 levels could see Binance hit red for a 2nd consecutive week. A fall through the 23.6% FIB of $17.87 would likely bring the first major support level at $16.74 into play.

Barring a crypto meltdown, however, we would expect Binance to avoid a return to sub-$16 levels, last struck on 2nd April.

At the time of writing, Binance was up by just 0.08% to $18.84.

EOS

EOS slipped by 0.74% in the week ending 14th April. Following a 27.45% rally from the previous week, EOS ended the week at $5.343.

A bullish first half of the week saw EOS rise to Wednesday intraweek high $6,0726 before sliding back. Falling short of the first major resistance level at $6.1932, EOS fell to a Thursday intraweek low $5.097.

In spite of the Thursday sell-off, EOS held above the major support level at $4.3576 to partially recover the week’s losses.

For the week ahead,

A move through to $5.50 levels in the early part of the week would support a positive week ahead. An early run at the first major resistance level at $5.9114 would bring $6.00 levels back into play before any pullback.

Barring a broad-based crypto rebound, however, we would expect EOS to fall short of the second major resistance level at $6.4798.

In the event of a rebound, a visit to $7.00 levels could be on the cards, though EOS will likely come up short of the third major resistance level at $7.46.

Failure to move through $5.50 levels could see EOS hit reverse. A pullback through last week’s low $5.097 would bring the first major support level at $4.94 into play.

Barring a broad-based crypto sell-off, however, EOS would likely steer clear of the second major support level at $4.53.

At the time of writing, EOS was up by 0.64% to $5.3772.

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