Altcoins Weekly Analysis – BNB, EOS and ETH – 01/12/19

Binance Coin

Binance Coin fell by 3.3% in the week ending 30th November. Following on from a 19.3% tumble from the previous week, Binance Coin ended the week at $15.73.

A bearish start to the week saw Binance Coin slide to a Monday intraweek low $13.88 before finding support.

Off the back of a 7.7% slide last Sunday, Binance Coin fell through the first major support level at $13.94.

Finding support through the middle of the week, Binance Coin rose to a Friday intraweek high $16.55.

In spite of 4 days in the green out of 5, Binance Coin fell well short of the first major resistance level at $19.52.

Going into Saturday, Binance Coin had been flat for the week. A 3.3% slide on the day left Binance Coin deep in the red at sub-$16 levels.

For the week ahead

Binance Coin would need to move through to $15.40 levels to support a run at the first major resistance level at $16.89.

Support from the broader market would be needed for Binance Coin to break out from $15 levels.

Barring a broad-based crypto rally, however, Binance Coin would likely fall well short of $17 levels.  Last week’s high $16.55 and the first major resistance level at $16.89 would likely cap any upside.

Failure to move through to $15.40 levels could likely see Binance Coin spend a 3rd consecutive week in the red.

A fall back through to sub- $15 levels would bring the first major support level at $14.22 into play.

Barring another crypto meltdown, Binance Coin should steer clear of sub-$14 support levels.

At the time of writing, Binance Coin was down by 4.47% to $15.03.

BNB/USD 01/12/19 Weekly Chart

EOS

EOS rose by 2.53% in the week ending 30th November. Partially reversing a 20.3% tumble from the previous week, EOS ended the week at $2.7642.

Tracking the broader market, EOS slid to a Monday intraweek low $2.3548 before finding support.

In spite of a 9.7% slide last Sunday, EOS steered clear of the first major support level at $2.2898.

Finding strong support through the rest of the week, EOS rallied to a Friday intraweek high $2.8477 before easing back.

While EOS bounced back with 4 days in the green out of 5, which included a 6.7% rally on Friday, EOS fell short of the first major resistance level at $3.2772.

A 1.65% fall on Saturday cut the upside for the week as the broader crypto market went into meltdown mode.

For the week ahead

EOS would need to steer clear of sub-$2.65 levels to support a run at the first major resistance level at $2.9563.

Support from the broader market would be needed, however, for EOS to break out from last week’s high $2.8477.

Barring a broad-based crypto rally in the week, resistance at $3.00 would likely cap any upside on the week.

Failure to steer clear of sub-$2.65 levels could see EOS reverse last week’s gain.

A fall back through to $2.50 levels would bring the first major support level at $2.4634 into play.

Barring a crypto meltdown, however, EOS should steer clear of the second major support level at $2.1627.

At the time of writing, EOS was down by 2.36% to $2.6991.

EOS/USD 01/12/19 Weekly Chart

Ethereum

Ethereum fell by 0.14% in the week ending 30th November. Following on from a 16.59% slide from the previous week, Ethereum ended the week at $151.78.

A particularly bearish start to the week saw Ethereum slide to a Monday intraweek low $131.8, with a 7.9% loss on Sunday doing the damage.

Ethereum fell through the first major support level at $136.48 before finding support.

Through the middle of the week, Ethereum saw green in 4 out of 5 days, leading to a Friday intraweek high $157.73.

In spite of the recovery, Ethereum fell well short of the first major resistance level at $179.57, leading to a Saturday pullback.

A 1.9% fall on Saturday left Ethereum in the red for the week.

For the week ahead

Ethereum would need to move back through to $147 levels to support a run at the first major resistance level at $162.41.

Support from the broader market would be needed, however, for Ethereum to break out from last week’s high $157.73.

Barring an extended crypto rally, Ethereum would likely fall short of $160 levels in the week.

Failure to move back through to $147 levels could see Ethereum spend a 4th consecutive week in the red.

A pullback to sub-$140 levels would bring the first major support level at $136.47 into play before any recovery.

Barring a crypto meltdown, however, Ethereum should continue to steer clear of sub-$130 levels in the week.

At the time of writing, Ethereum was down by 3.18% to $146.95.

ETH/USD 01/12/19 Weekly Chart

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