It’s been a bullish 1st half of the week for Binance Coin.
A mixed start to the week saw Binance Coin rise from a Sunday current week low $27.69 to a Tuesday current week high $30.70.
Steering clear of the support levels, Binance Coin broke through the first major resistance level at $30.27.
More significantly, Binance Coin also fell back through the 23.6% FIB of $29.7 before hitting reverse.
A pullback from the Tuesday high saw Binance Coin fall back through the first major resistance level and the 23.6% FIB.
For the current week, Sunday through Tuesday, Binance Coin was up by 4.79% to $29.51.
2 consecutive days in the green at the start of the week delivered the upside. A 1.70% fall on Tuesday pared some of the gains, however.
The near-term bullish trend remained intact, in spite of the latest pullback. For the bears, a fall through the 62% FIB of $18 would form a near-term bearish trend.
It has been a particularly bullish year. Year-to-date, Binance Coin was up by 116%.
At the time of writing, Binance Coin was down by 0.82% to $29.27. A mixed start to the day on Wednesday saw Binance Coin rise to an early morning high $29.56 before falling to a low $29.03.
Binance Coin left the major support and resistance levels untested early on.
Binance Coin would need to avoid a fall through the $28.36 pivot bring the 23.6% FIB of $29.7 and the first major resistance level at $30.27 back into play.
Support from the broader market would be needed, however, for Binance Coin to break back through to $30 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended breakout, however, Binance Coin could test resistance at $33 before any pullback. The second major resistance level sits at $32.38.
Failure to avoid a fall through the $28.36 pivot level would bring the first major support level at $26.25 into play.
Barring an extended sell-off going into the weekend, however, Binance Coin should steer clear of the 38.2% FIB of $25.2. The second major support level sits at $24.34.
Major Support Level: $26.25
Major Resistance Level: $30.27
23.6% FIB Retracement Level: $29.7
38.2% FIB Retracement Level: $25.2
62% FIB Retracement Level: $18.0