It’s been a bullish 1st half of the week for Binance Coin.
A mixed start to the week, however, saw Binance Coin slid to a Sunday current week low $318.81 before making a move.
Steering clear of the first major support level at $304, Binance Coin rallied to a Monday current week high $386.58.
Falling short of the first major resistance level at $396, however, Binance Coin eased back to sub-$370 levels.
For the current week, Sunday through Tuesday, Binance Coin was up by 6.69% to $366.84. A 6.45% rally on Sunday and a 1.20% gain from Monday delivered the upside early in the week.
The near-term bullish trend remained intact in spite of the recent return to sub-$300 levels. For the bears, a sustained fall through the 62% FIB of $272 would form a near-term bearish trend.
It has been a bullish first half of the year, however, with Binance Coin up by 879%.
At the time of writing, Binance Coin was down by 0.68% to $364.34. A mixed start to the day on Wednesday saw Binance Coin rise to an early morning high $367.02 before falling to a low $362.73.
Binance Coin left the major support and resistance levels untested early in the day on Wednesday.
Binance Coin would need to avoid a fall back through the pivot at $356 to bring the first major resistance level at $396 back into play.
Support from the broader market would be needed, however, for Binance Coin to break out from the current week high $386.58.
Barring an extended rally going into the weekend, the first major resistance level and resistance at $400 would likely cap any upside.
In the event of an extended breakout, however, Binance Coin could test resistance at the 38.2% FIB of $438 and the second major resistance level at $448.
A fall back through the $356 pivot would bring the first major support level at $304 back into play.
Barring an extended sell-off going into the weekend, however, Binance Coin should steer of the 62% FIB of $273. The second major support level sits at $265.
First Major Support Level: $304
Pivot Level: $356
First Major Resistance Level: $396
23.6% FIB Retracement Level: $540
38.2% FIB Retracement Level: $438
62% FIB Retracement Level: $273