The April Bulls Deliver for Bitcoin, while others Struggle on

Bitcoin and Litecoin over dollar banknotes.

Bitcoin slipped by 0.06% on Monday. Partially reversing a 1.57% gain from Sunday, Bitcoin ended the day at $5,480.1.

A relatively range-bound start to the day saw Bitcoin rise to a mid-morning intraday high $5518 before hitting reverse.

Falling short of the first major resistance level at $5,554.43, Bitcoin fell to an early afternoon intraday low $5,365.0.

The reversal saw Bitcoin fall through the first major support level at $5,410.43 to come within range of the second major support level at $5,334.07 before finding support.

Recovering through the afternoon, Bitcoin managed to move back through to and hold onto $5,480 levels.

While the broader market has been in some choppy waters in recent weeks, Bitcoin was up by 31.5% for the current month to the end of Monday.

Elsewhere,

Across the top 10 cryptos, it was a sea of red for the majors on Monday. Bitcoin Cash ABC led the way down, sliding by 6.78%.

Other notable losses included a 4.58% slide in Binance Coin and a 4.22% fall in Cardano’s ADA. While the reversal fell short of being considered a crypto meltdown, the majors tracked each other through the first half of the day.

In spite of the heavy losses on the day, it could have been a lot worse had support not kicked in through the afternoon.

Providing direction to the broader market through the day was Bitcoin, which continued to struggle at $5,400 levels. Failure to hold onto $5,500 levels hit early in the day led to the pullback ahead of the month end.

There were no major news events on the day to hit the broader market, which saw the total market cap fall from $171.9bn to $167.6bn levels before recovering to $169.7bn levels.

As the month of April comes rapidly to an end, it’s been a mixed month for the majors. Joining Bitcoin with heavy gains are Bitcoin Cash ABC which leads the way with a 36.67% gain. Not far off the pace was Binance Coin, which was up 27.7% to the end of Monday.

It’s not green across the broad, however, with Stellar’s Lumen (-8.95%), Cardano’s ADA (-4.02%) and Ripple’s XRP (-2.18%) struggling.

While the total market cap rose from $144bn levels at the end of March, Bitcoin’s dominance has also been on the rise. Bitcoin’s dominance has risen from 50.3% at the end of March to 54.9% at the time of writing, the shift supporting the uptrend in the market cap.

This Morning,

At the time of writing, Bitcoin was down by 0.3% to $5,463.7. Moves through the early morning saw Bitcoin fall from a morning high $5,497.2 to a low $5,462.0.

Steering clear of the major support and resistance levels, the struggle at $5,400 continued to pin Bitcoin back from a breakout to $5,500 levels and beyond.

Elsewhere, Bitcoin Cash ABC and Litecoin were amongst the leading back, up by 1.76% and 1.29% respectively.

Joining Bitcoin in the red was Ripple’s XRP, which was down by 0.16% and Binance Coin, which was down by 0.21%.

BTC/USD 30/04/19 Weekly Chart

For the day ahead

Bitcoin would need to hold above $5,450 levels to support a move back into positive territory. A move through $5,490 would bring $5,550 levels and the first major resistance level at $5,543.73 into play.

Barring a broad-based crypto rally, Bitcoin would likely continue to come up short of $5,600 levels on the day.

Failure to hold above $5,450 levels could see Bitcoin hit reverse later in the day. A fall through the first major support level at $5,390.83 could be on the cards before any recovery. Barring a crypto meltdown, however, Bitcoin would likely steer clear of sub-$5,300 levels on the day.

Expect the broader market to respond to Bitcoin’s moves, particularly with Bitcoin’s dominance having been on the rise through April.

Altcoins Weekly Analysis – EOS, ETH and XLM – 28/04/19

Kiev, Ukraine, March, 13, 2018: Coins of different crypto-currencies with dollars

EOS

EOS slid by 8.05% in the week ending 27th April. Reversing a 2.39% gain from the previous week, EOS ended the week at $4.8394.

A bearish start to the week saw EOS slide from a Sunday intraweek high $5.4892 to a Thursday intraweek low $4.53.

The reversal saw EOS slide through the first major support level at $5.2383 and second major support level at $5.0065. Heavier losses avoided, with support coming at the third major support level at $4.5638.

The start of the week high fell well short of the week’s first major resistance level at $5.6810.

A 5.8% rally on Friday back through to $4.80 levels limited the downside for the week.

For the bears, EOS saw red on 5 of the 7 days. EOS saw its heaviest loss of 6.29% on Wednesday. More significantly, it’s been downhill since 10th April’s current year high of $6.0726…

For the week ahead,

A move through $4.95 levels would bring $5.00 levels back into play on the week. Support from the broader market would be needed, however, for EOS to breakout from $5.00 levels. A move through to $5.20 would bring the first major resistance level at $5.3757 into play before any pullback.

Barring a broad-based crypto rally, EOS would likely come up short of $6.00 levels. The second major resistance level at $5.9121 would cap the upside in the week.

Failure move through to $4.95 levels could see EOS slide back through last week’s low $4.53.  A pullback through to $4.50 would bring the first major support level at $4.4165 into play before any recovery.

Barring a crypto meltdown, EOS would likely steer well clear of sub-$4.00 support levels on the week.

At the time of writing, EOS was up by 0.35% to $4.8561.

EOS/USD 28/04/19 Weekly Chart

Ethereum

Ethereum tumbled by 10.41% in the week ending 27th April. Reversing a 6.09% gain from the previous week, Ethereum ended the week at $155.66.

A relatively choppy start to the week saw Ethereum recover from a Sunday low $166.33 to a Tuesday intraweek high $176.94.

Falling short of the first major resistance level at $173, Ethereum slid to Thursday intraweek low $146.00. 3 consecutive days in the red that included an 8.3% sell-off on Thursday did the damage.

The reversal saw Ethereum fall through the first major support level at $160.54 and second major support level at $147.35.

A partial recovery on Friday and Saturday through to $155 levels reduced the deficit for the week.

For the week ahead,

A move through to $159.50 levels would support a partial recovery of last week’s losses. Support from the broader market would be needed, however, for Ethereum to take a run at $170 levels.

Barring a broad-based crypto rally, Ethereum would likely struggle to break out from $165 levels in the event of a move through to $160 levels. In the event of a broad-based crypto rebound, the first major resistance level at $173 would likely cap the upside on the week.

Failure to move through to $159.50 levels could see Ethereum take another weekly hit. A pullback through to sub-$150 levels could see Ethereum slide through the morning low $146 before any recovery.

Barring a broad-based crypto sell-off, however, Ethereum would likely hold above the week’s first major support level at $142.16.

At the time of writing, Ethereum was up 0.23% to $156.02.

ETH/USD 28/04/19 Weekly Chart

Stellar’s Lumen

Stellar’s Lumen slumped by 11.49% in the week ending 27th April. Following on from a 1.19% fall from the previous week, Stellar’s Lumen ended the week at $0.1021.

A bearish start to the week saw Stellar’s Lumen fall from an intraweek high $0.11586 to a Sunday low $0.10935 before recovering to $0.11 levels.

The partial recovery to $0.11 levels left Stellar’s Lumen well short of the first major resistance level at $0.1203. Succumbing to market forces, Stellar’s Lumen tumbled to a Thursday intraweek low $0.09509 before finding support.

The reversal saw Stellar’s Lumen fall through the first major support level at $0.1105 and second major support level at $0.1057. The third major support level at $0.09590 limited the downside on the week.

2 consecutive days in the green at the end of the week reduced the deficit for the week.

For the week ahead,

A move through to $0.1045 levels would be needed to support a partial recovery of last week’s losses.

Having tracked the market through the last week, support from the broader market would be needed for Stellar’s Lumen to breakout from $0.1045 levels.

A broad-based crypto rebound would bring $0.11 levels and the first major resistance level at $0.1136 into play. Stellar’s Lumen would likely fall short of a return to $0.12 levels, however. Last week’s high $0.11586 would likely cap the upside on the week.

Failure to move through to $0.1045 levels could see Stellar’s Lumen take another hit in the week ahead.

A fall through to sub-$0.10 levels would bring the first major support level at $0.0928 into play before any recovery.

Barring another crypto meltdown, however, Stellar’s Lumen would likely steer clear of sub-$0.090 support levels.

At the time of writing, Stellar’s Lumen was up by 0.83% to $0.10384.

XLM/USD 28/04/19 Weekly Chart

The Crypto Bears Fight Back. Can Bitcoin Take another Run at $6,000?

Bitcoin, Ethereum, Litecoin Digital cryptocurrencys on a notebook

Following Bitcoin’s positive start to the week, it was back into the red for the majors.

Bitcoin fell by 1.22% on Wednesday. Partially reversing a 2.37% rally on Tuesday, Bitcoin ended the day at $5,479.6.

A bullish start to the day saw Bitcoin look to buck the trend for a 2nd consecutive day. Bitcoin struck an early morning intraday high $5,690 ahead of a mid-morning sell-off.

The early rally saw Bitcoin break through the first major resistance level at $5,666.5 before hitting reverse.

Reversing through the late morning, Bitcoin fell through the first major support level at $5,406.6 to an intraday low $5,407.1.

A recovery to $5,500 levels by the early afternoon was short-lived, with Bitcoin closing out the day at $5,400 levels.

In spite of the reversal, Bitcoin remained in positive territory for the current week. The sell-off led to Bitcoin’s dominance to rise to 54.5%, reflecting a more bearish sentiment from last week’s sub-52% levels.

Elsewhere,

Across the top 10 cryptos, it was a sea of red, with Binance Coin the only major to buck the trend on the day.

Binance Coin gained 2.24% on Wednesday, with a late rally delivering the gains and bringing to an end a run of 3 consecutive days in the red.

Elsewhere, Stellar’s Lumen and EOS were amongst the worst performers, sliding by 6.94% and by 6.23% respectively.

The broad-based sell-off saw the total crypto market cap fall from $183bn levels to $174bn levels before support kicked. While not the largest of single day slides seen in the total market cap, investors were reminded just how quickly sentiment can change.

On the news front, there was nothing negative to influence the sell-off as investors continue to wait on for the SEC Bitcoin ETF decision. Profit taking at $5,600 levels likely contributed to the reversal in Bitcoin that impacted the broader market.

This Morning,

At the time of writing, Bitcoin was up by 0.15% to $5,487.9. Wednesday’s late recovery continued into the early hours of Thursday, providing some much needed early support. The day’s major support and resistance levels were left untested early on.

Elsewhere in the cryptomarket, a number of the majors were looking for a rebound from heavier losses on Wednesday.

Bitcoin Cash ABC was up by 1.4%, with Litecoin up by 1.42% at the time of writing. Bucking the trend in the first hour of the day, however, was Binance Coin once more. Binance coin was down by 1.8% at the time of writing.

BTC/USD 25/04/19 Daily Chart

For the day ahead,

Bitcoin would need to move through to $5,530 levels to resume the current upward trend seen since 2nd April’s 17.3% rally that led to a breakthrough to $5,000 levels.

A move through to $5,530 would bring $5,600 levels and the first major resistance level at $5,644.03 into play. Bitcoin would need support from the broad market, however, to break out from $5,500 levels on the day.

Failure to move through to $5,530 could see Bitcoin take another hit on the day. A fall through to $5,450 levels could bring sub-$5,400 levels into play before any recovery.

Barring another crypto meltdown, however, Bitcoin will likely steer clear of the first major support level at $5,361.13.

Getting through the morning will be key for the bulls. Is the positive start to the day just a spillover from late Wednesday or a rebound?

Cardano’s ADA Analysis – Support Levels in Play – 24/04/19

Cardano Crypto Currency Market

Cardano’s ADA Price Support

It’s been a particularly choppy start to the week for Cardano’s ADA. The latest swings come off the back of a 12.9 slide last week, which followed on from a 6.3% fall in the week prior.

A bullish start to the week saw Cardano’s ADA rally by 6.22% to reverse most of last week’s losses before hitting reverse. Outperforming the rest of the top 10 cryptos on Monday, a broad-based reversal on Tuesday weighed heavily.

The reversal saw Cardano’s ADA slide by 5.73% to $0.074262, wiping out most of Monday’s gains to resume the recent reversal that has been ongoing since a 3rd April high $0.103722.

Moves through the early part of the week saw Cardano’s ADA rise to a current week high $0.083694 on Tuesday.

Cardano’s ADA broke through the week’s first major resistance level at $0.08310 before sliding to a Tuesday low $0.071654.

In spite of the Tuesday sell-off, Cardano’s ADA steered clear of the week’s first major support level at $0.0685.

The extended bearish trend, formed at last May’s swing hi $0.38845, remained firmly intact. Cardano’s ADA continued to fall short of the 23.6% FIB Retracement Level of $0.1125, following December’s swing lo $0.02724.

In spite of the pullback since the current year high $0.103722, it’s been a particularly positive start to the year. Cardano’s ADA is up 77% year-to-date to the end of Tuesday.

For the bulls, a breakout from the 23.6% FIB of $0.1125 to test the 38.2% FIB of $0.1652 would be needed to form a near-term bullish trend.

At the time of writing, Cardano’s ADA was down by 0.11% to $0.074183.

ADA/USD 24/04/19 Weekly Chart

For the remainder of the week

A move back through $0.0770 levels would support a return to $0.080 levels later ahead of the weekend.

Support from the broader market would be needed, however, for Cardano’s ADA to take a run at the first major resistance level at $0.0831.

Following 3rd April’s high, a lack of a broad-based crypto rally would likely see Cardano’s ADA struggle at $0.080 levels.

In the event of a rebound, a breakthrough the first major resistance level would bring $0.090 levels into play going into the weekend.

Failure to move through to $0.0770 levels could see Cardano’s ADA struggle through the week. A pullback through the current week low $0.071654 would bring sub-$0.070 levels into play.

Barring a crypto meltdown, however, the first major support level at $0.0685 would likely limit the downside in the week.

In the event of a broad-based sell-off, Cardano’s ADA would likely steer clear of sub-$0.060 levels. The second major support level at $0.0628 would provide the necessary support.

Looking at the Technical Indicators

Major Support Level: $0.0685

Major Resistance Level: $0.0831

23.6% FIB Retracement Level: $0.1125

38.2% FIB Retracement Level: $0.1652

62% FIB Retracement Level: $0.2505

The Bitcoin Bulls Deliver $5,400. Next Up, $6,000…

Bitcoin symbol in blockchain technology and cryptocurrency concept. Abstract background 3d illustration.

Bitcoin was amongst the front runners at the start of the week.

Bitcoin gained 1.83% on Monday. Reversing a 0.34% loss from Sunday, Bitcoin ended the day at $5,417.8.

The bullish start to the week came off the back of a 2.5% rise in the week ending 21st April.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $5,276.5 before making a move. Steering clear of the first major support level at $5,261.93, Bitcoin rallied to a late afternoon intraday high $5,459.5.

The afternoon rally saw Bitcoin break through the first major resistance level at $5,374.93 and second major resistance level at $5,427.97 before easing back.

For the bulls, Monday’s gain was a 6th day in the green out of the last 7. Of greater significance was Bitcoin’s hold onto $5,400 levels by the day’s end.

It was Bitcoin’s highest end of day price since 18th November’s $5,659.5 and highest intraday since 19th November’s $5,659.5.

Elsewhere,

Across the top 10 cryptos, it was a mixed bag for the majors. Following an impressive run through the 2nd half of last week, Binance saw red, falling by 0.97%. Joining Binance was Litecoin, which fell by 0.44%.

For Binance, having made solid gains in recent weeks, some profit taking at the start of the week was in line with last week’s trend. Litecoin also suffered a similar fate, having been on the move since the turn of the year in anticipation of this year’s halving event.

Leading the way amongst the top 10 was Cardano’s ADA, which rallied by 6.22%. After a particularly bullish run since February, that led to a 2019 high $0.103722, it’s been bearish since. Cardano’s ADA had tumbled to $0.071 levels before finding support.

This Morning,

At the time of writing, Bitcoin was up by just 0.02% to $5,418.9. Recovering from an early morning low $5,387.5, Bitcoin moved to a morning high $5,433 before easing back.

Whilst leaving the major support and resistance levels untested, support at sub-$5,400 was key in the early hours.

Elsewhere, Cardano’s ADA continued its revival, up by 1.08% at the time of writing to lead the way amongst the majors.

It’s been a mixed start to the day, however, with Bitcoin Cash ABC, EOS and Stellar’s Lumen seeing minor losses. For the rest of the pack, the majors struggled for direction early on.

BTC/USD 23/04/19 Daily Chart

For the day ahead,

Bitcoin would need to hold onto $5,400 levels through the morning to support a run at the first major support level at $5,479.03.

Support from the broader market would be needed for a breakthrough Monday’s high $5,439.0, however. Barring a broad-based crypto rally, Bitcoin will likely struggle to break through to $5,500 levels.

In the event of a crypto breakout, Bitcoin could take a run at the second major resistance level at $5,540.27.

Failure to hold onto $5,400 levels could see Bitcoin struggle through the day. A pullback through the morning low $5,387.5 to $5,360 levels would bring the first major support level at $5,316.53 into play.

Barring a broad-based crypto sell-off, Bitcoin would likely steer clear of sub-$5,300 support levels on the day.

For the broader market, Bitcoin at $5,500 could fuel another broad-based rally…

Altcoins Weekly Analysis – ADA, BNB, and EOS – 21/04/19

Bitcoin coin on white keyboard

Cardano’s ADA

Cardano’s ADA fell by 8.33% in the week ending 20th April. Following on from a 7.8% slide from the previous week, Cardano’s ADA ended the day at $0.07668.

A choppy start to the week saw Cardano’s ADA rise to an intraweek high $0.085159 on Monday before hitting reverse.

Falling well short of the week’s first major resistance level at $0.0941, Cardano’s ADA fell to an intraday week low $0.075084 on Saturday.

In spite of the reversal, Cardano’s ADA held above the first major support level at $0.0745 to move back through to $0.080 levels on Saturday.

Following a first weekly loss in 8-weeks in the week ending 7th April, there were more losses. Cardano’s ADA saw red for 4 consecutive days in the week.

For the week ahead,

A move through to $0.0790 levels would be needed to bring $0.080 levels and the first major resistance level at $0.0829 into play.

Support from the broader market would be needed, however, for Cardano’s ADA to resume its upward trend.

Barring a broad-based crypto rally, Cardano’s ADA will likely fail to return to $0.090 levels. The second major resistance level at $0.0891 will likely cap any upside in the week.

Failure to move through to $0.0790 levels could see Cardano’s ADA continue the current reversal. A fall through last week’s low $0.075084 would bring the first major support level at $0.0745 into play.

Barring a crypto meltdown, Cardano’s ADA would likely steer clear of sub-$0.070 support levels in the week.

At the time of writing, Cardano’s ADA was up 1.63% to $0.077931.

ADA/USD 21/04/19 Weekly Chart

Binance

Binance rallied by 33.37 in the week ending 20th April. Reversing a 2.18% fall from the previous week, Binance ended the day at $25.10.

A relatively bullish start to the week saw Binance move back through $20.00 levels to test the first major resistance level at $20.51.

Following a range-bound middle of the week, Binance rallied to an intraweek high and new swing hi $25.83 on Saturday before easing back.

The breakout saw Binance break through the week’s major resistance levels. Moves through Saturday saw Binance fall back through the third major resistance level at $25.96 late in the day.

A start of a week intraweek low $18.616 saw Binance hold well above the first major support level at $16.74.

For the week ahead,

A hold onto $24 levels through the early part of the week would support further gains ahead of the weekend. A breakthrough last week’s high $25.83 would be needed to bring the first major resistance level at $27.83 into play.

Continued upward momentum mid-week could see Binance take a run at $30 levels before any pullback.

Failure to hold onto $24 levels could lead to a first weekly fall in 12 weeks. A pullback through $23.10 would bring the first major support level at $20.37 into play before any recovery.

Of greater significance would be a fall through the 23.6% FIB of $20.72, which would test the bulls.

Barring a broad-based crypto meltdown, Binance will likely steer well clear of sub-$20 support levels.

At the time of writing, Binance was down 1.45% to $24.73.

BNB/USD 21/04/19 Weekly Chart

EOS

EOS rose by 2.39% in the week ending 20th April. Reversing a 0.74% loss from the previous week, EOS ended the week at $5.47.

A relatively bullish start to the week saw EOS rise to an intraweek high $5.6602 on Monday before easing back.

Falling short of the week’s first major resistance level at $5.9114, EOS fell to an intraweek low $5.2175 on Monday.

Steering well clear of the week’s major support levels, EOS recovered to $5.60 levels and a range—bound 2nd half of the week.

A bearish end to the week led to a pullback to $5.4 levels to limit the gains for the week.

For the week ahead,

A hold above $5.45 levels through the early part of the week would support more upside in the week ahead. A break back through to last week’s high $5.66 would bring the first major resistance level at $5.681 into play.

Barring a broad-based crypto rally, EOS would likely come up short of $6.00 levels. The second major resistance level at $5.8919 would cap the upside in the week.

Failure to hold above $5.45 levels could see EOS slide back through the first major support level at $5.2383.

Barring a crypto meltdown, EOS would likely avoid a fall to sub-$5.00 levels. The second major support level at $5.0065 would limit the downside in the week.

At the time of writing, EOS was up by 0.26% to $5.4859.

EOS/USD 21/04/19 Weekly Chart

The Bulls Are Out as Bitcoin Eyes $5,400 Levels

Bitcoin 1

It was a mixed day for the broader market on Wednesday.

Bitcoin joined just a handful of the crypto majors in the green on the day.

Bitcoin gained 0.38% on Wednesday.  Following on from a 3.8% rally on Tuesday, Bitcoin ended the day at $5,254.5.

Relatively range-bound throughout the day, Bitcoin slipped from a mid-day intraday high $5,300 to an intraday low $5,206.8 before finding support.

Moves through the 2nd half of the day saw Bitcoin fall short of $5,300 levels. The day’s major support and resistance levels were left untested throughout the day.

Elsewhere

Across the top 10 cryptos, it was a mixed bag for the majors. Joining Bitcoin in the green were Ripple’s XRP, Stellar’s Lumen, and Ethereum. Ripple’s XRP led the way on the day, rallying by 3.14. While Stellar’s Lumen also found support, gaining 1.05%, Ethereum managed just a 0.1% increase.

On the other end of the board, Bitcoin Cash ABC saw the heaviest losses, sliding by 3.69%, with Litecoin ending the day with a 2.07% loss.

While Bitcoin Cash ABC saw red, Bitcoin Cash SV continued its merry way down into the abyss. News of crypto exchanges withdrawing Bitcoin Cash SV weighed further as the cryptomarket experienced yet again just how influential exchanges are on the performance of the majors.

This Morning,

At the time of writing, Bitcoin was up by 0.98% to $5,306.0. A bullish start to the day saw Bitcoin rise from a morning low $5,254.5 to a high $5,316.0. Steering clear of the major support levels, Bitcoin broke through the first major resistance level at $5,300.73 early on.

Across the broader market, it was a sea of green. Ethereum was leading the way at the time of writing, up by 3.6%. Litecoin and Stellar’s Lumen were not far behind with gains of 2.54% and 2.5%, whilst Bitcoin Cash ABC trailed.

BTC/USD 18/04/19 Daily Chart

For the day ahead,

A hold onto $5,300 levels through the morning would support another run at the second major resistance level at $5,346.97 later in the day.

Support from the broader market could see Bitcoin breakout from $3,550 levels to take a run at $5,400 levels later in the day.

Barring a broad-based crypto rally, however, Bitcoin will likely come up short of the second major resistance level at $5,346.97.

Failure to hold onto $5,300 levels could see Bitcoin hit reverse later in the day. A pullback through the $5,250 levels would bring the first major support level at $5,207.53 into play.

Barring a broad-based crypto reversal, Bitcoin will likely steer clear of sub-$5,200 levels on the day. In the event of a crypto sell-off, the second major support level at $5,160.57 could come into play before any recovery.

EOS Analysis – Resistance Levels in Play – 17/04/19

Bitcoin and Litecoin over dollar banknotes.

EOS Price Resistance

It’s been a choppy start to the week for EOS following last week’s 2.25 gain, which came off the back of a 29% rally in the week prior.

A bearish start to the week saw EOS fall by 4.77% on Monday to $5.34 levels before finding support.

Steering clear of the week’s first major support level at $5.11, EOS recovered to $5.55 levels on Tuesday. A 4.01% gain on the day was not enough to reverse Monday’s loss, however, or see EOS return to $6 levels struck in the week ending 14th April.

Moves through the early part of the week saw EOS fall well short of the week’s first major resistance level at $6.0856.

The extended bearish trend, formed at last May’s swing hi $23.039, remained firmly intact. EOS continued to fall short of the 23.6% FIB Retracement Level of $6.62, following December’s swing lo $1.55.

In spite of the mixed start to the week, it’s been a particularly positive start to the quarter, with EOS up 30.5% to the end of Tuesday.

For the bulls, a breakout from the 23.6% FIB of $6.62 to test the 38.2% FIB of $9.76 would be needed for a near-term bullish trend formation.

At the time of writing, EOS was down by 0.85% to $5.5067.

EOS/USD 17/04/19  Weekly Chart

For the remainder of the week

A move through to $5.59 levels would be needed for EOS to take a run at $6.00 levels later in the week. Support from the broader market would be needed, however, for EOS to breakout from current levels. Barring a crypto rally, EOS will likely come up short of $6.00 levels in the week. In the event of a breakout, however, EOS will likely break through the first major resistance level at $6.0856.

While last week’s high $6.0726 and the first major resistance level will pin EOS back, upward momentum across the broader markets would bring the second major resistance level at $6.5669 into play before any pullback.

Failure to move through $5.59 levels could see EOS resume the downward trend from the start of the week.

A fall through the current week low $5.2175 would bring the week’s first major support level at $5.11 into play.

Barring a broad-based crypto sell-off, EOS will likely steer clear of sub-$5.00 support levels through the week. In the event of a crypto meltdown, EOS will likely test the second major support level at $4.6157.

EOS will unlikely revisit April’s low $4.20 in the event of a reversal through the week.

Looking at the Technical Indicators

 

Major Support Level: $5.1100

Major Resistance Level: $6.0856

23.6% FIB Retracement Level: $6.62

38.2% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Altcoins Weekly Analysis – ADA, BNB, and EOS – 14/04/19

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Cardano’s ADA

Cardano’s ADA fell by 7.8% in the week ending 13th April. Partially reversing a 24.18% surge from the previous week, Cardano’s ADA ended the week at $0.08365.

A positive start to the week saw Cardano’s ADA strike a Sunday intraweek high $0.095515 before hitting reverse. Falling short of the week’s major resistance levels, Cardano’s ADA slid to an intraweek low $0.07592. A broad-based crypto sell-off did the damage on Thursday, with Cardano’s ADA falling by 6.5% on the day.

Cardano’s ADA was able to steer clear of the major support levels, however, to move back through to $0.08 levels.

The relatively bearish week delivered Cardano’s ADA  with its first weekly loss in 8-weeks.

For the week ahead,

A move through $0.085 levels in the early part of the week would bring $0.090 levels back into play. Cardano’s ADA  would need support from the broader market, however, to take a run at the first major resistance level at $0.0941.

In the event of a broad-based crypto rebound, Cardano’s ADA would likely return to $0.10 levels before any pullback. We would expect the second major resistance level at $0.1046 to cap the upside in the week, however.

Failure to move through $0.085 to $0.090 levels could see Cardano’s ADA  take another hit in the week ahead.

A pullback through to $0.070 levels would bring the first major support level at $0.0745 into play before any recovery.

Barring another crypto sell-off, however, we would expect Cardano’s ADA to continue to avoid sub-$0.060 levels.

In the event of a meltdown, the second major support level at $0.0654 would likely limit the losses for the week.

At the time of writing, Cardano’s ADA was up 0.4% to $0.083983.

ADA/USD 14/04/19 Weekly Chart

Binance

Binance fell by 2.18% in the week ending 14th April. Partially reversing an 11.9% rally from the previous week, Binance ended the week at $18.82.

Bearish through most of the week, Binance fell from a start of a week intraweek high $20.11 to an intraweek low $16.34.

In spite of the sell-off through to a Thursday low, Binance left the major support and resistance levels untested. Finding support on Friday through to the end of Saturday, Binance managed to recover to $19 levels before easing back.

For the week ahead,

A hold above $18.5 levels in the early part of the week would support a return to positive ways. Support from the broader market would likely see Binance return to $19 levels before any pullback. Barring a broad-based crypto rebound, however, we would expect Binance to come up short of the first major resistance level at $20.51.

In the event of a crypto rally, we would expect the second major resistance level at $22.19 to cap the upside for the week.

Failure to hold above $18.5 levels could see Binance hit red for a 2nd consecutive week. A fall through the 23.6% FIB of $17.87 would likely bring the first major support level at $16.74 into play.

Barring a crypto meltdown, however, we would expect Binance to avoid a return to sub-$16 levels, last struck on 2nd April.

At the time of writing, Binance was up by just 0.08% to $18.84.

BNB/USD 14/04/19 Weekly Chart

EOS

EOS slipped by 0.74% in the week ending 14th April. Following a 27.45% rally from the previous week, EOS ended the week at $5.343.

A bullish first half of the week saw EOS rise to Wednesday intraweek high $6,0726 before sliding back. Falling short of the first major resistance level at $6.1932, EOS fell to a Thursday intraweek low $5.097.

In spite of the Thursday sell-off, EOS held above the major support level at $4.3576 to partially recover the week’s losses.

For the week ahead,

A move through to $5.50 levels in the early part of the week would support a positive week ahead. An early run at the first major resistance level at $5.9114 would bring $6.00 levels back into play before any pullback.

Barring a broad-based crypto rebound, however, we would expect EOS to fall short of the second major resistance level at $6.4798.

In the event of a rebound, a visit to $7.00 levels could be on the cards, though EOS will likely come up short of the third major resistance level at $7.46.

Failure to move through $5.50 levels could see EOS hit reverse. A pullback through last week’s low $5.097 would bring the first major support level at $4.94 into play.

Barring a broad-based crypto sell-off, however, EOS would likely steer clear of the second major support level at $4.53.

At the time of writing, EOS was up by 0.64% to $5.3772.

EOS/USD 14/04/19 Weekly Chart

The Crypto Bears Come Out of Hibernation

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Bitcoin was amongst the majority of the cryptos that saw green mid-week. Reversing a 1.81% fall from Tuesday, Bitcoin gained 1.78% on Wednesday to end the day at $5,310.1.

Tracking the broader market through the day, Bitcoin rose to a late afternoon intraday high $5,488 before hitting reverse.

Bitcoin broke through the first major resistance level at $5,295.80 and second major resistance level at $5,375.3.

On the reverse, Bitcoin fell back through the major resistance levels to an intraday low $5,193.5. In spite of the reversal, Bitcoin held above the first major support level at $5,153.4, to move back through to $5,300 levels.

Elsewhere,

Across the top 10 cryptos, it was a mixed day for the majors. Cardano’s ADA led the way, rallying by 6.59%, with EOS not far behind, rising by 4.52%. Trailing the majors were Binance Coin and Ripple’s XRP. Binance Coin slid by 1.46%, while Ripple’s XRP managed to gain just 0.39%.

The moves came off the back of a bearish start to the week that partially reversed last week’s broad-based gains.

Wednesday’s broad-based rally led to the total market cap to a high $186.22bn before falling back. In spite of the increased volatility, cryptomarket volumes have eased back from $80bn levels to $50bn levels. The upward momentum across the broader market has seen more investors buy and hold, though this could change should the bears regain control.

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This Morning,

At the time of writing, Bitcoin was down 1.77% to $5,216.1. A bearish start to the day saw Bitcoin slide from a morning high $5,342.1 to a low $4,952.4 before finding support.

The reversal saw Bitcoin fall through the first major support level at $5,173.07 and second major support level at $5,036.03.

It was Bitcoin’s first visit to sub-$5,000 levels since 1st April. Of greater significance was sub-$5,000 support that drove Bitcoin back to $5,200 levels in the early hours.

Elsewhere, it was a sea of red across the crypto top 10. Bitcoin Cash ABC saw the biggest loss of the morning, down by 6.14% to $285 levels. Stellar’s Lumen and Ripple’s XRP were also deep in the red, down by 5.84% and 4.25% respectively.

Following Wednesday’s trend-bucking loss, Binance was the best performer of the morning, down by 2.83%.

The broad-based sell-off led the total market cap back down to $177.86bn at the time of writing. Bitcoin’s dominance moved through to $51.8%, reflecting the shift in sentiment in the early hours.

BTC/USD 11/04/19 Daily Chart

For the day ahead

Bitcoin will need to hold onto $5,200 levels through the morning to support a partial recovery of the morning losses. A move back through to $5,330 levels would be needed, however, for Bitcoin to take a run the first major resistance level at $5,467.57. Barring a broad-based crypto rebound, we would expect Bitcoin to come up short of $5,400 levels in the event of an afternoon recovery.

Failure to hold onto $5,200 levels could see Bitcoin slide back through the first major support level at $5,173. A pullback could see Bitcoin test sub-$5,000 support for a 2nd time before any recovery. Avoiding a return to sub-$5,100 levels this morning would be needed for the sell-off not to gather momentum.