Altcoins Weekly Analysis – BNB, EOS and ETH – 15/09/19

Binance Coin

Binance Coin fell by 6.67% in the week ending 14^th September. Reversing a 6.7% gain from the previous week, Binance Coin ended the week at $20.99.

A mixed start to the week saw Binance Coin rise to a Sunday an intraweek high $22.8 before hitting reverse.

Falling well short of the first major resistance level at $23.74, Binance Coin saw 4 consecutive days in the red. The sell-off led Binance Coin to a Thursday intraweek low $19.65, off the back of a 4.8% loss on the day.

Binance Coin fell through the first major support level at $21.09 to test the second major support level at $19.73.

Finding support late in the week, Binance Coin moved back through to $21 levels before easing back on Saturday.

The bearish week saw Binance Coin in the green on just 2 of the 7 days.

For the week ahead

A move through to $21.15 levels in the early part of the week would support a run at the first major resistance level at $22.46.

Binance Coin would need support from the broader market, however, to break through to $22 levels.

Barring a broad-based crypto rally, Binance Coin would likely fall well short of the previous week’s high $23.66 and second major resistance level at $24.30.

Failure to move through to $21.15 levels could see Binance Coin spend another week in the red. A fall through to sub-$20.5 levels would bring first major support level at $19.49 into play.

Barring a crypto meltdown, however, Binance Coin should continue to steer clear of the 62% FIB of $19 on the week.

At the time of writing, Binance Coin was up by 0.11% to $21.01

EOS

EOS surged by 13.03% in the week ending 14^th September. Following on from a 7.38% rally from the previous week, EOS ended the week at $4.0403.

A bullish start to the week saw EOS rise from a Sunday intraweek low $3.5144 to a Monday high $3.9668.

Holding above the first major support level at $3.2305, EOS broke through the first major resistance level at $3.8041 before hitting reverse.

The reversal saw EOS fall back to $3.6 levels before finding support. In spite of 4 consecutive days in the red through to Friday, EOS continued to steer clear of the first major support level at $3.2305.

An 8% rally on Saturday delivered the lion’s share of the weekly gains, with EOS striking an intraweek high $4.11.

EOS broke back through the first major resistance level at $3.8041 and second major resistance level at $4.0290.

For the week ahead

Holding above $3.80 levels would support a run at the first major resistance level at $4.2621.

EOS would need the support of the broader market, however, to break out from last week’s high $4.11.

In the event of another broad-based crypto rally, EOS could test the second major resistance level at $4.4838 before any pullback.

Failure to hold above $3.80 levels could see EOS eat into last week’s gains. A fall back through to sub-$3.80 levels would bring the first major support level at $3.6665 into play.

Barring a crypto meltdown, EOS should steer well clear of the second major support level at $3.2305.

At the time of writing, EOS was up by 0.28% to $4.0518.

Ethereum

Ethereum rallied by 12.28% in the week ending 14^th September. Following on from a 3.6% gain from the previous week, Ethereum ended the week at $188.85.

A bullish start to the week saw Ethereum break through the first major resistance level at $185.82 to a Monday high $186 before hitting reverse.

Ethereum saw red for 3 consecutive days, which led to a Wednesday intraweek low $173.7 before finding support. In spite of the pullback, Ethereum steered clear of the first major support level at $167.66.

Through the latter part of the week, Ethereum saw green for 3 consecutive days, leading to an intraweek high $189.32.

Ethereum broke back through to the first major resistance level at $185.82 to come up against resistance at $190 that capped the upside for the week.

For the week ahead

Steering clear of sub-$188 levels would support a run at the first major resistance level at $194.21.

Ethereum would need the support of the broader market, however, to break out from $190 levels

Barring a broad-based crypto rally, Ethereum would likely be pinned back by the second major resistance level at $199.58.

In the event of a broad-based crypto rally, Ethereum could visit $200 levels later in the week.

Failure to steer clear of $188 levels could see Ethereum hit reverse. A fall through to $183 levels would bring the first major support level at $178.59 into play.

Barring a crypto meltdown, however, Ethereum should continue to steer clear of sub-$170 levels and the second major support level at $168.34.

At the time of writing, Ethereum was up by 0.07% to $188.98.