Altcoins Weekly Analysis – ADA, BNB, and EOS – 31/03/19

It’s a bearish start to the week, following the gains from last week. A hold onto key levels could see the rally resume as the week progresses.
Ripple, Dash coin, Bitcoin, Monero and Ethereum

Cardano’s ADA

Cardano’s ADA rallied by 13.58% in the week ending 30th March. Following on from a 23% jump from the previous week, Cardano’s ADA ended the week at $0.073098.

A range-bound start to the week saw Cardano’s ADA ease to an intraweek low $0.05431 on Monday before making a move. Steering clear of the first major support level at $0.0541, Cardano’s ADA rallied to a Friday intraweek high $0.074524.

The week-long rally saw Cardano’s ADA break through the first major resistance level at $0.0703 before easing back. The week’s second major resistance level at $0.0763 capped the upside for the week.

A pullback to sub-$0.070 levels on Saturday was short-lived, with Cardano’s ADA recovering to $0.070 levels late in the day.

For the week ahead,

A hold onto $0.070 levels through the early part of the week would support further gains in the week ahead. A move back through last weeks high $0.074524 would bring the first major resistance level at $0.0793 into play. Support from the broader market would be needed, however, for Cardano’s ADA to hold onto $0.070 levels.

Barring a broad-based crypto rally, we would expect Cardano’s ADA to come up short of the second major resistance level at $0.0854.

Failure to hold onto $0.070 levels could see Cardano’s ADA give up some of the recent gains. A pullback through $0.068 levels would bring the first major support level at $0.0622 into play. Barring a broad-based sell-off, we would expect Cardano’s ADA to steer clear of sub-$0.06 support levels.

At the time of writing, Cardano’s ADA was up 0.38% to $0.073378.

Binance

Binance rose by 12.11% in the week ending 30th March. Reversing a 5.71% slide from the previous week, Binance ended the week at $17.22.

A start of a week rally to an intraweek high and new swing hi $17.81 delivered the week’s gains. Rising from an intraday week low $14.77, Binance broke through the first major resistance level at $16.41. Coming up against the second major resistance level at $17.47, Binance eased back to $15 levels on Tuesday before recovering to $17 levels.

The bullish week saw Binance steer well clear of the major support levels.

For the week ahead,

A hold onto $17 levels through the early part of the week would support another solid week ahead. A break back through to $17.50 levels would bring $18 levels into play before any pullback. Support from the broader market would be needed, however, for Binance to take a run at the first major resistance level at $18.43. Barring a broad-based rally, we would expect last week’s $17.806 high to cap the upside in the week.

Failure to hold onto $17 levels could see Binance give up some of last week’s gains. A fall through $16.60 would bring $15 levels into play before any recovery. Barring a broad-based crypto sell-off, however, we would expect Binance to hold above the first major support level at $15.39.

At the time of writing, Binance was down 0.11% to $17.197.

EOS

EOS rallied by 13.51% in the week ending 30th March. Reversing a 4.09% fall from the previous week, EOS ended the week at $4.2189.

Following a range bound start to the week that saw EOS dip to an intraweek low $3.6198, EOS rallied to an intraweek high $4.4718.

Steering clear of the major support levels on Monday, EOS broke through the week’s major resistance levels.

An early afternoon pullback on Saturday saw EOS fall back to $4.05 levels before breaking back through the second major resistance level at $4.0164. In spite of the solid gains, EOS was unable to break back through the third major resistance level at $4.3045.

For the week ahead,

A hold onto $4.10 levels through the early part of the week would support a move back through last week’s high $4.4718. A broad-based crypto rally would bring the first major resistance level at $4.5872 into play. Barring a crypto rally, we would expect EOS to come up short of $5.00 levels, however. The second major resistance level at $4.9555 will likely to pin EOS back.

Failure to hold onto $4.10 levels could see EOS ease back to sub-$4.00 levels before any recovery. Negative sentiment across the broader market would bring the first major support level at $3.7352 into play. Barring a crypto meltdown, however, we would expect EOS to steer clear of the second major support level at $3.2515.

At the time of writing, EOS was down 0.97% to $4.1779.

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