It’s been yet another bullish 1st half of the week for Binance Coin.
A mixed start to the week, however, saw Binance Coin slide to a Sunday current week low $459.68 before making a move.
While steering clear of the first major support level at $401, Binance Coin fell through the 23.6% FIB of $494.
Finding late support on Sunday, however, and through Monday Binance Coin struck a Tuesday current week high $584.79 before easing back.
While breaking back through the 23.6% FIB, Binance Coin fell short of the first major resistance level at $610.
For the current week, Sunday through Tuesday, Binance Coin was up by 14.48% to $569.70.
3 days in the green that included a 5.99% rally on Monday and a 6.29% gain on Tuesday delivered the early upside.
The near-term bullish trend remained intact supported by the current week’s gain. For the bears, a sustained fall through the 62% FIB of $250 would form a near-term bearish trend.
It has been a particularly bullish start to the year, with Binance Coin up by 142.1%.
At the time of writing, Binance Coin was up by 1.21% to $576.57. A mixed start to the day on Wednesday saw Binance Coin fall to an early morning low $567.96 before rising to a high $582.76.
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 $513 to bring the first major resistance level at $610 back into play.
Support from the broader market would be needed, however, for Binance Coin to break back through to $600 levels.
Barring an extended rally going into the weekend, the first major resistance level and last week’s high $625.35 would likely cap any upside.
In the event of an extended breakout, however, Binance Coin could test resistance at $700 before any pullback. The second major resistance level sits at $722.
Failure to avoid a fall back through the $513 pivot would bring the 23.6% FIB of $494 into play.
Barring another extended sell-off going into the weekend, however, Binance Coin should steer of the first major support level at $401.
Major Support Level: $401
Major Resistance Level: $610
23.6% FIB Retracement Level: $494
38.2% FIB Retracement Level: $400
62% FIB Retracement Level: $250