Altcoins Weekly Analysis – BNB, EOS and ETH – 14/07/19

It’s a bearish start to the week as the bears look to reverse gains since the start of the year.
Bitcoin, Ethereum, Litecoin Digital cryptocurrencys on a notebook

Binance Coin

Binance Coin fell by 2.99% in the week ending 13th July. Following on from an 8.14% tumble from the previous week, Binance Coin ended the week at $31.52.

A bullish start to the week saw Binance Coin rise to a Monday intraweek high $36.95 before hitting reverse.

The bullish start to the week saw Binance Coin break through the 23.6% FIB of $34 and first major resistance level at $35.67.

Following 2 consecutive days in the green, 3 consecutive days in the red saw Binance Coin fall to a Thursday intraweek low $27.10.

The reversal saw Binance Coin fall through the first major support level at $29.61 and 38.2% FIB of $28.

Binance managed to bounce back to $34 levels on Friday before a Saturday 1.59% fall back to $31 levels.

For the week ahead

A move back through to $31.8 levels would support a bullish first half of the week. Binance Coin would need to move through to $33 levels to bring the first major resistance level at $36.61 into play.

Binance Coin would need the support of the market, however, to break through the 23.6% FIB of $34.

Barring a broad-based crypto rally, last week’s high $36.95 and the first major resistance level would limit any upside.

Failure to move back through to $31.8 levels could see Binance Coin face heavier losses in the week ahead.

A fall through to sub-$30 levels would bring the 38.2% FIB of $28 into play before any recovery.

Barring a crypto meltdown, we would expect Binance Coin to steer clear of the first major support level at $26.76.

At the time of writing, Binance Coin was down by 1.76% to $30.97.

EOS

EOS tumbled by 18.06% in the week ending 13th July. Following on from an 8.73% fall from the previous week, EOS ended the week at $4.7355.

A bullish start to the week saw EOS rise to a Monday intraweek high $6.06 before hitting reverse.

In spite of 2 consecutive days in the green, EOS came up short of the first major resistance level at $6.2620.

A mid-week reversal saw EOS slide to a Thursday intraweek low $4.3196 before finding support. EOS fell through the first major support level at $5.4271 and second major support level at $5.0784.

In spite of a day in the green on Friday, EOS failed to recover to $5.00 levels by the end of the week.

For the week ahead

A move through to $5.00 levels would support a run at the week’s first major resistance level at $5.7571

EOS would need the support of the broader market, however, to break out from $5.00 levels on the week.

In the event of a broad-based crypto rally, EOS could break through last week’s high $6.06 to take a run at the 23.6% FIB of $6.62.

Barring a broad-based rally, last week’s high would likely cap any upside on the week.

Failure to move through to $5.00 levels would bring the first major support level at $4.0167 into play.

Barring a crypto meltdown EOS should steer clear of sub-$4.00 support levels on the week.

At the time of writing, EOS was up 1.37% to $4.6707.

Ethereum

Ethereum fell by 6.45% in the week ending 13th July. Following on from a 9.3% slide from the previous week, Ethereum ended the week at $269.04.

A bullish start to the week saw Ethereum rise to a Monday intraweek high $315 before hitting reverse.

Coming up short of the first major resistance level at $317.31, Ethereum tumbled to a Thursday intraweek low $261.57.

The sell-off saw Ethereum fall through the first major support level at $264.12 before recovering to $270 levels on Friday. A bearish end to the week left Ethereum at sub-$270 levels.

In spite of the reversal, Ethereum managed to hold above the 23.6% FIB of $257.

For the week ahead

A move through to $283 levels would support a return to $300 levels. Ethereum would need the support of the broader market, however, to take a run at the first major resistance level at $304.57.

Barring a broad-based crypto rally, Ethereum would likely come up short of $300 levels on the week.

In the event of a crypto rebound, Ethereum could take a run at last week’s high $318.6.

Failure to move through to $283 levels could see Ethereum give up more ground in the week. A fall through 23.6% FIB of $257 would bring the first major support level at $247.54 into play before any recovery.

Barring a crypto meltdown, Ethereum should steer clear of sub-$240 levels on the week.

At the time of writing, Ethereum was down by 1.09% to $266.11.

Most Recent

Top Articles

Popular

10360.3
+366.49
+3.66714%
180.05
+3.9600
+2.24885%
0.2551
+0.0025
+0.98971%
300.11
+5.4000
+1.83231%
EOSEOS
3.7690
+0.0930
+2.52992%
69.620
+0.6400
+0.92781%