Ethereum Analysis – Support Levels in Play – 31/07/19

Bitcoin, Ethereum, Litecoin Digital cryptocurrencys on a notebook

Ethereum Price Support

It’s been a sluggish first half of the week for Ethereum. Following last week’s 9.5% slide, Ethereum was up by just 1.31% Sunday through to Tuesday.

A bullish start to the week saw Ethereum gain 2.12% on Sunday before seeing 2 consecutive days in the red to limit the upside on the week.

Ethereum steered clear of the week’s first major support level at $195.12 on Sunday with a current week low $197.0. Rallying through Sunday and early Monday, Ethereum struck a current week high $215.31 before easing back.

Ethereum came up well short of the week’s first major resistance level at $224.47.

In spite of the upward momentum in the week, Ethereum also continued to fall short of the 23.6% FIB of $257.

The extended bearish trend, formed at May 2018’s swing hi $828.97 remained firmly intact, however. Ethereum continued to fall short of the 38.2% FIB Retracement Level of $367, before the slide back through the 23.6% FIB of $257.

For the bulls, a breakout from the 38.2% FIB of $367 would be needed to form a near-term bullish trend.

At the time of writing, Ethereum was up by 1.45% to $212.88. A bullish start to the day saw Ethereum rally to an early morning high $213.79 before sliding to a low $209.53.

Steering clear of the major support and resistance levels, Ethereum found support to move back through to $212 levels.

ETH/USD 31/07/19 Daily Chart

For the remainder of the week

Ethereum would need to hold onto $212 levels to support another run at the first major resistance level at $224.47.

Support from the broader market would be needed, however, for Ethereum to break out from the current week high $215.31.

In the event of a broad-based crypto rally, the 23.6% FIB of $257 would come into play.

Barring a broad-based crypto rally, the first major resistance level at $224.47 and last week’s high $229.85 would likely limit any upside on the week.

Failure to hold onto $212 levels could see Ethereum take another slide. A fall through the current week low $197 would bring the first major support level at $195.12 into play.

Barring a broad-based crypto sell-off, Ethereum would likely steer clear of sub-$190 levels on the week.

In the event of a crypto meltdown, Ethereum would likely test the second major support level at $183.14 before any recovery.

With Ethereum down by 27.7% for the current month to the end of Tuesday, steering clear of sub-$190 levels is key.

Looking at the Technical Indicators

Major Support Level: $195.12

Major Resistance Level: $224.47

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Bitcoin Sees Red Early. Avoiding sub-$9,000 Will be Key for the Majors

Bitcoin, Ethereum, Litecoin Digital cryptocurrencys on a notebook

Bitcoin fell by 0.13% on Monday. Partially reversing a 0.56% gain from Sunday, Bitcoin ended the day at $9,507.

A particularly bullish start to the day saw Bitcoin strike an early morning intraday high $9,663.6 before hitting reverse.

The early rally saw Bitcoin fall short of the first major resistance level at $9,730.87 and 38.2% FIB of $9,734.

Sliding back through the morning, Bitcoin fell to a late morning intraday low $9,376.7. Steering well clear of the first major support level at $9,204.27, Bitcoin recovered to an afternoon high $9,656.6.

Pressure from the broader market ultimately weighed, with Bitcoin pulling back into the red late in the day.

In spite of falling short of $10,000 levels, the extended bullish trend remained intact. Bitcoin will need to avoid a material pullback from the 38.2% FIB of $9,734 to maintain the extended bullish trend.

Elsewhere

Across the top 10 cryptos, it was a bearish day for the majors.

Leading the way down on the day were Stellar’s Lumen and Binance Coin, which slid by 3.03% and by 2.92% respectively.

Bitcoin Cash SV (-2.55%), Bitcoin Cash ABC (-1.88%) and EOS (-1.65%) weren’t far behind on the day.

While Ripple’s XRP joined Bitcoin with a modest loss of just 0.51%, Litecoin bucked the trend on the day, rising by 0.14%.

The moves through the start of the week saw Bitcoin’s dominance hover at 62.5% levels on the day.

A bearish start to the week weighed on the total crypto market cap, however, which fell from $266bn levels to $261bn levels on Monday.

There were no major news events to provide direction on the day. The broader market looked towards Bitcoin for cues, which continued to struggle at $9,500 levels.

Key on the day, for Bitcoin, was a hold above the major support levels, though falling short of the 38.2% FIB could test investor resilience in the coming days.

This Morning

At the time of writing, Bitcoin was down by 0.51% to $9,458.7. A mixed start to the day saw Bitcoin rise to an early morning high $9,532.3 before falling to a low $9,380.

In spite of the choppy start to the day, Bitcoin left the major support and resistance levels untested early on.

Across the rest of the pack, Bitcoin Cash SV bucked the trend early on, rising by 0.5%. It was red for the rest of the majors. Leading the reversal were Binance Coin and Ethereum, which were down by 1.54% and 1.42% respectively.

BTC/USD 30/07/19 Daily Chart

For the day ahead

Bitcoin would need to move back through to $9,550 levels to support a run at the first major resistance level at $9,704.63.

Support from the broader market would be needed, however, for Bitcoin to break out from $9,500 levels.

Barring a broad-based crypto rally, the first major resistance level and the 38.2% FIB of $9,734 would likely limit any upside on the day.

Failure to move through to $9,550 levels could see Bitcoin fall deeper into the red. A fall through the morning low $9,380 would bring the first major support level at $9,343.03 into play.

Barring a crypto meltdown, Bitcoin should steer clear of the second major support level at $9,179.07.

Altcoins Weekly Analysis – BNB, EOS and ETH – 28/07/19

Bitcoin, Ethereum, Litecoin Digital cryptocurrencys on a notebook

Binance Coin

Binance Coin tumbled by 11.04% in the week ending 27th July. Following on from a 1.27% fall from the previous week, Binance Coin ended the week at $27.73.

A choppy start to the week saw Binance Coin fall by 2.1% on Sunday before bouncing back to a Monday intraweek high $33.13.

Falling well short of the first major resistance level at $35.07, Binance Coin slid to a Saturday intraweek low $26.70.

Whilst steering clear of the first major support level at $25.43, Binance Coin fell through the 38.2% FIB of $28.0.

4-days in the red through the week did the damage, with a 1.17% gain on Monday the largest upswing in the week.

For the week ahead

A move through to $29.20 levels would support a run at the first major resistance level at $31.67 later in the week.

Binance Coin would need the support of the broader market, however, to break out from the 38.2% FIB of $28.

Barring a broad-based crypto rebound, the 38.2% FIB and first major resistance level would likely limit any upside on the week.

Failure to move through to $29.2 levels could see Binance Coin lose more ground in the week. A fall through last week’s low $26.7 would bring the first major support level at $25.24 into play.

Barring an extended crypto sell-off in the week, Binance Coin should steer clear of the second major support level at $22.76.

At the time of writing, Binance Coin was down by 0.71% to $27.54.

BNB/USD 28/07/19 Weekly Chart

EOS

EOS fell by 0.91% in the week ending 27th July. Following on from an 8.98% slide from the previous week, EOS ended the week at $4.2649.

A mixed start to the week saw EOS reverse minor gains from Sunday to fall to a Monday intraweek low $3.9342.

Steering well clear of the first major support level at $3.4871, EOS bounced back to a Saturday intraweek high $4.7753.

In spite of 4-days in the green for the week, a particularly bearish Saturday left EOS in the red for the week. After striking an intraweek high in the early hours of Saturday, EOS tumbled by 7.8% on the day.

For the week ahead

Holding above $4.13 levels would support a run at the first major resistance level at $4.8623.

EOS would need the support of the broader market, however, to break out from last week’s high $4.7257.

Barring a broad-based crypto rally, EOS would likely fall short of $5.00 levels for a 3rd consecutive week.

In the event of a crypto rebound, the second major resistance level at $5.4598 would likely limit the upside on the week.

Failure to hold onto $4.13 levels would bring sub $4.00 levels back into play.

Barring a crypto meltdown, the first major support level at $3.5308 and last week’s low $3.3942 should limit any downside on the week.

In the event of a crypto meltdown, EOS could test the second major support level at $2.7968 before any recovery.

At the time of writing, EOS was up by 0.44% to $4.2837.

EOS/USD 28/07/19 Weekly Chart

Ethereum

Ethereum slid by 9.50% in the week ending 27th July. Following on from a 14.91% tumble from the previous week, Ethereum ended the week at $207.11.

Another bearish week saw Ethereum fall from a Sunday intraweek high $229.85 to a Wednesday intraweek low $200.5.

Falling well short of the first major resistance level at $269.24, Ethereum tested support at $200 before recovering to $220 levels.

A particularly bearish end to the week saw Ethereum slide back to $202 levels on Saturday before wrapping up the week at $207 levels.

Ethereum steered well clear of the first major support level at $189.33 in spite of the reversal.

Of greater significance was a hold onto $200 levels…

For the week ahead

A move through to $213 levels in the early part of the week would support a run at the first major resistance level at $224.47.

Ethereum would need the support of the broader market, however, to take a run at the 23.6% FIB of $257.

Barring a broad-based crypto rebound, Ethereum would likely fall well short of $300 levels for a 3rd consecutive week.

The second major resistance level at $241.84 and 23.6% FIB of $257 would likely limit any upside on the week.

Failure to move through to $213 levels could see Ethereum take another weekly loss.

A fall back through to last week’s low $200.5 would bring the first major support level at $195.12 into play.

Barring a crypto meltdown, Ethereum should steer clear of sub-$190 support levels on the week.

At the time of writing, Ethereum was up by 1.36% to $209.93.

ETH/USD 28/07/19 Weekly Chart

Bitcoin’s on the Move Early. A Hold onto $10,000 Will be Key for the Majors

Bitcoin, Ethereum, Litecoin Digital cryptocurrencys on a notebook

Bitcoin fell by 0.91% on Wednesday. Following on from a 4.57% slide from Tuesday, Bitcoin ended the day at $9,769.

A choppy morning saw Bitcoin slide to an early morning low $9,579 before finding support. The pullback saw Bitcoin fall through the 38.2% FIB of $9,734 and first major support level at $9,675.

Finding support from the broader market, Bitcoin bounced back to an early afternoon intraday high $9,922.26.

While Bitcoin managed to move back through the 38.2% FIB of $9,734, Bitcoin came up short of the first major resistance level at $10,186.

An afternoon reversal saw Bitcoin slide back through the 38.2% FIB and first major support level to an intraday low $9,534.1.

Finding support late on, Bitcoin recovered to $9,700 levels to limit the downside on the day.

It was also on the second time in since late June that Bitcoin fell short of $10,000 levels.

In spite of falling short of $10,000 levels, the extended bullish trend remained intact. Bitcoin will need to avoid a sell-off from the 38.2% FIB of $9,734, however, to maintain the extended bullish trend.

Elsewhere

Across the top 10 cryptos, it was a mixed bag for the majors.

Binance Coin and Tron’s TRX joined Bitcoin in the red on the day, with losses of 1.87% and 0.83% respectively.

It was a day in the green for the rest of the pack. EOS led the way on the day, rallying by 10.35%.

Litecoin (+4.92%), Ripple’s XRP (+2.41%), Bitcoin Cash ABC (+2.39%) and Ethereum (+2.18%) also saw solid gains.

Bitcoin Cash SV trailed the pack, rising by just 0.48%.

Bitcoin’s dominance fell back from 65% levels to 64.26% following Bitcoin’s loss on the day. In spite of the mixed day for the majors, the total market cap recovered from sub-$270bn levels to a high $279.80bn before easing back. At the time of writing, the total market cap stood at $277.75bn

This Morning

At the time of writing, Bitcoin was up by 3.12% to $10,074.0. A particularly bullish start to the day saw Bitcoin rally from a morning low $9,733.3 to a high $10,188 before easing back.

The early morning rally saw Bitcoin break through the 38.2% FIB of $9,734, first major resistance level at $9,949.7 and second major resistance level at $10,130.4.

It was a mixed start to the day for the rest of the crypto majors. Bitcoin Cash SV (-1.97%), Tron’s TRX (-1.26%), EOS (-1.17%) and Litecoin (-0.13%) saw red in the early hours.

Ethereum (+2.49%), Bitcoin Cash ABC (+1.91%), and Binance Coin (+1.86%) saw a solid start to the day, whilst Ripple’s XRP trailed with a 0.48% gain at the time of writing.

BTC/USD 25/07/19 Daily Chart

For the day ahead

Bitcoin would need to hold above the first major resistance level at $9,949.7 to support upward momentum through the day.

Barring an extended crypto rally through the day, however, Bitcoin will likely come up short of the third major resistance level at $10,518.9.

Failure to hold above the first major resistance level at $9,949.7 could see Bitcoin test support at the 38.2% FIB of $9,734 before any recovery.

Barring a crypto meltdown, Bitcoin should steer clear of the first major support level at $9,561.2 on the day.

Ethereum Analysis – Support Levels in Play – 24/07/19

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

Ethereum Price Support

It’s been a bearish first half to the week for Ethereum. Following last week’s 14.9% slide, Ethereum was down by 7.4% Sunday through Tuesday.

It was 3-consecutive days in the red, with a 1.42% fall on Sunday being the most modest of losses on the week so far.

A start of the week current week high $229.85, stuck on Sunday saw Ethereum fall well short of the first major resistance level at $269.24. Of greater significance was Ethereum’s falling short of the 23.6% FIB of $257 through the 1st half of the week.

The 3-days in the red saw Ethereum fall to a Tuesday current week low $208.43 before finding support to end the day at $211.93.

Ethereum managed to steer clear of the first major support level at $189.33 in spite of the pullback.

The extended bearish trend, formed at May 2018’s swing hi $828.97 remained firmly intact, however. Ethereum continued to fall short of the 38.2% FIB Retracement Level of $367, before the slide back through the 23.6% FIB of $257.

For the bulls, a breakout from the 38.2% FIB of $367 would be needed to form a near-term bullish trend.

At the time of writing, Ethereum was down by 2.65% to $206.31. Another bearish start to the day saw Ethereum fall from an early morning high $212.2 to a new current week low $200.5.

Ethereum managed to avoid sub-$200 levels and the week’s first major support level at $189.33 early on. The early moves were pointing towards a 4th consecutive day in the red, however.

Another weekly loss would make it 4-weeks-in-a-row for Ethereum that has tumbled back from a late June high $364.49.

ETH/USD 24/07/19 Weekly Chart

For the remainder of the week

Ethereum would need to steer clear of sub-$200 levels and move through to $230 levels to support a rebound.

A move through to $230 levels would bring the first major resistance level at $269.24 into play. Ethereum would need the support of the broader market, however, to break through the 23.6% FIB of $257.

In the event of a broad-based crypto rally, Ethereum could move through last week’s high $270 before any pullback.

Barring a crypto rally going into the weekend, however, the 23.6% FIB of $257 would likely cap any upside in the event of a bounce back.

We would expect Ethereum to fall short of the second major resistance level at $309.58 in the week.

Failure to move through to $230 levels could see Ethereum slide back to sub-$200 levels before any recovery.

In the event of an extended broad-based crypto reversal, Ethereum would likely test the first major support level at $189.33.

Barring a crypto meltdown, however, Ethereum should steer well clear of sub-$180 support levels.

Looking at the Technical Indicators

Major Support Level: $189.33

Major Resistance Level: $269.24

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

 

Bitcoin’s on the Back Foot as the Bears Target sub-$10,000

Bitcoin, Ethereum, Litecoin Digital cryptocurrencys on a notebook

Bitcoin fell by 2.29% on Monday. Following on from a 1.59% decline on Sunday, Bitcoin ended the day at $10,328.

A particularly choppy morning saw Bitcoin fall from $10,670 levels to a morning low $10,400 before finding support.

Steering clear of the major support levels, Bitcoin struck a late morning intraday high $10,690 before hitting reverse.

A bearish second half of a day saw Bitcoin slide to an early evening intraday low $10,299. The reversal saw Bitcoin fall through the first major support level at $10,308.93.

Finding support from the broader market, Bitcoin recovered to $10,300 levels to limit the downside on the day.

In spite of the sell-off that kicked in on 10th July, the extended bullish trend remained intact. Bitcoin will need to steer clear of the 38.2% FIB of $9,734, however, to avoid a resumption of the extended bearish trend.

Elsewhere

Across the top 10 cryptos, Binance Coin bucked the trend on Monday, with a gain of 1.12%. For the rest of the pack, it was a day in the red.

Tron’s TRX led the way down, sliding by 8.94%. Bitcoin Cash SV (-4.85%), EOS (-4.7%), Litecoin (-4.66%) and Ethereum (-3.8%) also saw heavy losses on the day.

Bitcoin’s dominance continued to hover at 65% levels in spite of Bitcoin’s loss on the day. The broad-based crypto sell-off left the total market cap down at $280.27bn at the time of writing.

Trading volumes stood at $53.29bn at the time of writing, easing back from $77bn levels hit during the Monday session.

This Morning

At the time of writing, Bitcoin was down by 1.55% to $10,168. A bearish start to the day saw Bitcoin fall from a morning high $10,330.9 to a low $10,151.0.

Falling short of the major resistance levels, Bitcoin fell through the first major support level at $10,188.0.

Elsewhere, Bitcoin Cash SV bucked the trend early on in the day, rising by 2.82%. It was red for the rest of the pack. Following solid gains from Monday, Tron’s TRX led the way down, falling by 4.36% at the time of writing.

Litecoin (-2.37%), EOS (-1.65%) and Binance Coin (-1.52%) were also under pressure through the morning.

Bitcoin Cash ABC (-0.95%), Ripple’s XRP (-1.05%), and Ethereum (-1.26%) saw more modest losses early on.

BTC/USD 23/07/19 Daily Chart

For the day ahead

Bitcoin would need to move back through the first major support level at $10,188 to $10,440 levels to support an afternoon rally.

Support from the broader market would be needed, however, for Bitcoin to break out from Monday’s high $10,328.

Barring a broad-based crypto rebound later in the day, Bitcoin would likely come up short of the first major resistance level at $10,579.

Failure to move through to $10,440 levels would see Bitcoin struggle on the day. A fall through the morning low $10,151 would bring the second major support level at $10,048 into play.

Barring a crypto meltdown, however, Bitcoin should steer clear of sub-$10,000 support levels on the day.

Altcoins Weekly Analysis – BNB, EOS and ETH – 21/07/19

cryptocurrency Silver and gold Bitcoin,litecoin,ethereum on dollar banknote on golden table,Virtual Digital money on blockchain concept.financial business.crypto currency mining.

Binance Coin

Binance Coin fell by 1.27% in the week ending 20th July. Following on from a 2.99% fall from the previous week, Binance Coin ended the week at $31.13.

A particularly bearish start to the week saw Binance Coin slide to a Wednesday intraweek low $23.67 before finding support.

The reversal saw Binance Coin slide through the 38.2% FIB of $28 and first major support level at $26.76.

Recovering through the 2nd half of the week, Binance Coin bounced back to a Thursday intraweek high $33.31 before easing back.

While breaking back through the 38.2% FIB of $28, Binance Coin fell well short of the first major resistance level at $36.61.

In spite of 4 consecutive days in the green to end the week, Binance Coin failed to close out the week in positive territory.

For the week ahead

Holding onto $30 levels through the early part of the week would support a move through to last week’s high $33.31.

Binance Coin would need the support of the broader market, however, to take a run at the first major resistance level at $35.07.

Barring a broad-based crypto rally, however, Binance Coin would likely struggle at the 23.6% FIB of $34.

Failure to hold onto $30 levels could see Binance Coin face more losses in the week ahead.

A fall through $29.40 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 $25.43.

In the event of a crypto meltdown, the Binance Coin could revisit $23 levels before any recovery.

At the time of writing, Binance Coin was down by 0.89% to $30.85.

BNB/USD 21/07/19 Weekly Chart

EOS

EOS slid by 8.98% in the week ending 20th July. Following on from an 18.06% tumble from the previous week, EOS ended the week at $4.3070.

Tracking the broader market through the early part of the week, EOS slid from a Sunday intraweek high $4.7527 to a Tuesday intraweek low $3.30.

Falling well short of the major resistance levels, EOS slid through the first major support level at $4.0167.

The second major support level at $3.2980 limited the downside on the week.

Finding support through the 2nd half of the week, EOS managed to recover to $4.48 levels on Saturday before easing back.

For the week ahead

Holding onto $4.20 levels through the early part of the week would support a run at the first major resistance level at $4.9398.

EOS would need the support of the broader market, however, to break out from last week’s high $4.7527.

Barring a broad-based crypto rally, EOS would likely fall short of $5.00 levels for a 2nd consecutive week.

In the event of a crypto rebound, the second major resistance level at $5.5726 would likely limit any upside on the week.

Failure to hold onto $4.2 levels would bring sub $4.00 levels back into play.

Barring a crypto meltdown, the first major support level at $3.4871 should limit any downside on the week.

In the event of a crypto meltdown, EOS could test sub-$3.00 support levels before any recovery.

At the time of writing, EOS was down 3.01% to $4.1775.

EOS/USD 21/07/19 Weekly Chart

Ethereum

Ethereum tumbled by 14.91% in the week ending 20th July. Following on from a 6.45% slide from the previous week, Ethereum ended the week at $228.89.

A particularly bearish start to the week saw Ethereum slide to an intraweek low $190.11. The sell-off saw Ethereum fall through the first major support level at $247.54 and second major support level at $226.04.

Of greater significance was a fall through the 23.6% FIB of $257 to Tuesday’s intraweek low.

Finding support through the 2nd half of the week, Ethereum managed to move back to $236 levels before easing back.

In spite of the partial recovery, Ethereum failed to move back through the 23.6% FIB of $257.

For the week ahead

A move through to $230 levels in the early part of the week would support a run at the 23.6% FIB of $257.

Ethereum would need the support of the broader market, however, to take a run at the first major resistance level at $269.24.

Barring a broad-based crypto rally, Ethereum would likely fall well short of $300 levels for a 2nd consecutive week.

Failure to move through to $230 levels could see Ethereum take another weekly loss.

A fall back through to sub-$200 levels would bring the first major support level at $189.33 into play.

Barring a crypto meltdown, Ethereum should steer clear of sub-$180 support levels on the week.

At the time of writing, Ethereum was down by 1.35% to $225.80.

ETH/USD 21/07/19 Daily Chart

Bitcoin and the Majors See Volatility Spike to Test Investor Resilience

Bitcoin, Ethereum, Litecoin Digital cryptocurrencys on a notebook

Bitcoin rose by 2.79% on Wednesday. Partially reversing a 12.9% tumble from Tuesday, Bitcoin ended the day at $9,682.6.

A relatively bearish start to the day saw Bitcoin fall to a late morning intraday low $9,084.7 before finding support.

Steering well clear of the first major support level at $8,846.87, Bitcoin bounced back to a late afternoon intraday high $9,975.

In spite of the afternoon rally, Bitcoin came up short of the first major resistance level at $10,505.87. Of greater significance, however, was a move back through the 38.2% FIB of $9,734, before a final hour pullback.

Wednesday’s gain was just the 3rd in the last 8-days as the bears look to claw their way back.

In spite of the sell-off that kicked in on 10th July, the extended bullish trend remained intact. Bitcoin will need to steer clear of the 62% FIB of $7,245 and move back through to $10,000 levels to avoid a resumption of the extended bearish trend.

Elsewhere

Across the top 10 cryptos, it was a sea of green for the majors, with Litecoin leading the way ahead of this summer’s halving event.

Litecoin surged by 13.19% on the day, with Binance Coin and Tron’s TRX not far behind, rallying by 10.66% and 9.18% respectively.

Bitcoin Cash SV (7.83%), Ethereum (6.49%), Ripple’s XRP (5.33%) and EOS (4.82%) also saw solid gains on the day.

Bitcoin Cash ABC trailed the pack on the day, rising by just 1.97%

Bitcoin’s dominance held onto 65% levels in spite of Bitcoin’s modest gains on the day. The broad-based crypto rally led the total market cap from a Wednesday low $248.42bn to $270.53bn at the time of writing.

Trading volumes stood at $82.23bn at the time of writing, easing back from $94bn levels hit during the Wednesday session.

This Morning

At the time of writing, Bitcoin was up by 1.99% to $9,875.6. A bearish start to the day saw Bitcoin fall to an early morning low $9,560.3.

Steering well clear of the first major support level at $9,186.53, Bitcoin struck a morning high $10,000 before easing back.

Whilst coming up short of the first major resistance level at $10,076.83, Bitcoin broke through the 38.2% FIB of $9,734.

Elsewhere, Bitcoin Cash ABC and Bitcoin Cash SV were leading the way, with gains of 4.95% and 7.83% respectively.

Tron’s TRX (4.32%), Litecoin (3.52%) and Ethereum (+3.56%) were also on move early on.

Ripple’s XRP trailed the pack through the morning, rising by just 1.1% at the time of writing.

BTC/USD 18/07/19 Daily Chart

For the day ahead

Bitcoin would need to hold above the 38.2% FIB of $9,734 to bring $10,000 levels back into play.

Support from the broader market would be needed, however, to give Bitcoin a run at the first major resistance level at $10,076.83.

In the event of an extended crypto rally, Bitcoin could eye up the second major resistance level at $10,471.07 before any pullback.

Failure to hold above the 38.2% FIB of $9,734 could lead to a slide through to sub-$9,600 levels. A fall through to $9,570 levels would bring the first major support level at $9,186.53 into play.

Barring a crypto meltdown, however, the 38.2% FIB of $9,734 should limit the downside on the day.

Binance Coin Analysis – Support Levels in Play – 17/07/19

Bitcoin, Ethereum, Litecoin Digital cryptocurrencys on a notebook

Binance Coin Price Support

It’s been a particularly bearish start to the week for Binance Coin. A bearish Sunday saw Binance Coin slide from a current week high $32.34 to $27 levels before finding support.

Following a 9.33% slide on Sunday, Binance Coin managed to recover to $31 levels on Monday before hitting reverse.

A 12.68% slide on Tuesday, following a 0.17% rise on Monday, saw Binance Coin fall to a  $24 levels

Binance Coin managed to recover to $25 levels late in the day.

Falling well short of the week’s major resistance levels, Binance Coin fell through the first major support level at $26.76.

Of greater significance was a fall through the 38.2% FIB of $28.

Following 5 consecutive months in the green, it was a bearish June and it’s been a particularly bearish July.

A current week loss of 20.71% has led to a 21.56% loss for the current month.

The near-term bullish trend formed at 7th December’s swing lo $4.17 remained firmly intact, however.

Binance Coin is up by 295% year-to-date, with Binance Coin managing to steer well clear of the 62% FIB of $19.

For the bulls, steering clear of sub-$20 levels will be key to maintaining the upward momentum.

At the time of writing, Binance Coin was up by 2.01% to $25.51.

Choppy through this morning, Binance Coin fell to a current week low $24.15 before recovering to $25 levels.

BNB/USD 17/07/19 Weekly Chart

For the remainder of the week

Binance Coin would need to move back through the first major support level at $26.76 to signal a possible rebound.

For a full circle, however, Binance Coin would need to break through to $31.8 levels to support a move back into the green.

Binance Coin would need the support of the broader market, however, to break out from $27 levels.

In the event of a broad-based crypto rebound, last week’s high $36.95 and first major resistance level should limit any upside on the week.

Failure to move back through the first major support level could lead to heavier losses on the week.

A fall through a current week low $24.15 would bring the second major support level at $22.01 into play.

Barring another crypto meltdown ahead of the weekend, however, Binance Coin should steer clear of the 62% FIB of $19.

Looking at the Technical Indicators

Major Support Level: $26.76

Major Resistance Level: $36.61

23.6% FIB Retracement Level: $34

38.2% FIB Retracement Level: $28

62% FIB Retracement Level: $19

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

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.

BNB/USD 14/07/19 Daily Chart

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.

EOS/USD 14/07/19 Daily Chart

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.

ETH/USD 14/07/19 Daily Chart