Altcoins Weekly Analysis –BNB, ETH and XLM – 17/03/19

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Binance

Binance gained 10.55% in the week ending 16th March. Following on from a 22.3% surge from the previous week, Binance ended the week at $16.2884.

A choppy first half of the week saw Binance rise from an intraweek low $14.06 to $15.80 levels before easing back to $14 levels. The week’s major support and resistance levels were left untested ahead of a Saturday rally.

Relatively range bound going into Saturday, a broad-based Saturday crypto market rally saw Binance strike an intraday week high and new swing hi $16.6443.

Coming within range of the week’s first major resistance level at $16.76, Binance eased back while holding onto $16 levels.

For the week ahead,

A hold onto $16 levels through the early part of the week would support further upside for Binance in the week ahead.

A move back through last week’s high $16.6443 would bring $17 levels and the first major resistance level at $17.2674 into play. Barring a broad-based crypto rally, we would expect the week’s first major resistance level to pin Binance back in the week. A crypto rally, however, would likely bring $18 levels into play. We would expect the second major resistance level at $18.8, however, to be left untested in the event of a breakout.

Failure to hold onto $16 levels could see Binance slide through $15.60 levels to bring the first major support level at $14.69 into play. Sentiment across the broader market would need to materially deteriorate, however, for a pullback to sub-$15.60 levels. Barring a broad-based crypto sell-off, we would expect Binance to hold above $15.80 levels through the week.

At the time of writing, Binance was down by 1.27% to $16.08.

BNB/USD 17/03/19 Weekly Chart

Ethereum

Ethereum gained 2.98% in the week ending 16th March. Following on from a 3.1% rise from the previous week, Ethereum ended the week at $140.48.

A bearish start to the week saw Ethereum fall from $136 levels to an intraday week low $127.19 on Tuesday.

Steering clear of the week’s first major support level at $126.11, Ethereum recovered to $136 levels ahead of Saturday’s rally. Finding support from the broader market, Ethereum rallied to a Saturday intraweek high $147.23. Ethereum broke through the first major resistance level at $143.36 before easing back to $140 levels.

For the week ahead,

A hold onto $138 levels through the early part of the week would support a move back through to $140 levels. Support from the broader market would likely see Ethereum move back through last week’s high $147.23. A breakout from $140 would likely bring the first major resistance level at $149.41 into play before any pullback. We would expect Ethereum to face plenty of resistance at $149 levels to leave $150 off the table for the week.

Failure to hold onto $138 levels could see Ethereum reverse the previous week’s gains. A fall through $133 levels would bring the first major support level at $129.37 into play. We would expect Ethereum to avoid sub-$128 levels in the event of a reversal, however.

At the time of writing, Ethereum was down 1.45% to $138.45.

ETH/USD 17/03/19 Weekly Chart

Stellar’s Lumen

Stellar’s Lumen rallied by 20.79% in the week ending 16th March. Following on from a 7.31% gain from the previous week, Stellar’s Lumen ended the week at $0.11076.

A particularly bullish start to the week saw Stellar’s Lumen rally from an intraweek low $0.0917 to an intraweek high $0.11489. 4 consecutive days in the green saw Stellar’s Lumen break through the week’s major resistance levels.

2 consecutive days in the red saw Stellar’s Lumen pullback through the third major resistance level at $0.1142 to $0.1050 levels. Support from the broader market kicked in on Saturday, supporting a move back through to $0.11 levels.

For the week ahead,

A hold above $0.1060 levels through the early part of the week would support a move through last week’s high $0.11489. Support from the broader market would be needed, however, for a run at the first major resistance level at $0.1199. We can expect Stellar’s Lumen to face plenty of resistance on the way through $0.1150 levels. Last week’s gains will likely weigh in the week.

Failure to hold above $0.1060 could see Stellar’s Lumen fall back through to sub-$0.10 levels later in the week. A pullback would see Stellar’s Lumen call on support at the first major support level at $0.0967 before any recovery. Barring a broad-based crypto sell-off, however, we would expect Stellar’s Lumen to hold onto $0.10 levels in the week ahead.

At the time of writing, Stellar’s Lumen was down by 0.79% to $0.10988.

XLM/USD 17/03/19 Weekly Chart

Binance Coin Analysis – Resistance Levels in Play – 13/03/19

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Binance Price Resistance

It’s been another relatively bullish start to the week for Binance. Following last week’s 25.7% rally, Binance has seen 2 consecutive days in the green. For the current week, Monday through Tuesday, Binance was up by 6.4%.

A trend-bucking 0.20% gain on Monday was followed up by a 6.26% rally on Tuesday.

Monday’s gains came in spite of the broader market seeing red. A bullish start to the week saw Binance hit an early intraday high $15.19 on Monday, before sliding back to $14 levels. By contrast, Tuesday’s bounce came off the back of a relatively range-bound morning to hold onto $15 levels by the day’s end.

The moves through the early part of the week saw Binance come up short of last week’s swing hi $15.91. In spite of the upward momentum, Binance also came up short of the week’s first major resistance level at $16.73. A start of the week low $14.27 saw Binance steer well clear of the first major support level at $11.82.

5 consecutive weeks in the green and a bullish start to the week reaffirmed the near-term bullish trend. Binance continued to hold above the 23.6% FIB of $13.14.

At the time of writing, Binance was down by 0.84% to $15.49. A bearish start to the day saw Binance fall from a morning high $15.64 to a low $15.45.

Relatively range bound and joining the broader market in the red, the week’s major support and resistance levels remained untested.

BNB/USD 13/03/19 Weekly Chart

For the remainder of the week

A hold onto $15 levels through the middle part of the week would support further gains going into the weekend. Binance would need to break through last week’s swing hi $15.91 to bring the week’s first major resistance level at $16.72 into play.

Support from the broader market would be needed, however, for Binance to breakout from current levels. Following Monday’s trend-bucking gain, negative sentiment across the broader market could pin Binance back.

Failure to hold onto $15 levels could see Binance slide through the current week’s low $14.27 to $13 levels before any recovery. Barring a crypto meltdown, we would expect sub-$13 levels to be avoided through the remainder of the week. In the event of a mass crypto sell-off, a fall through $13.8 levels would bring sub-$13 levels into play. We would expect the first major support level at $11.82 to be left untested, however.

Looking at the Technical Indicators

 

Major Support Level: $11.82

Major Resistance Level: $16.73

23.6% FIB Retracement Level: $13.14

38.2% FIB Retracement Level: $11.43

62% FIB Retracement Level: $8.66

Altcoins Weekly Analysis –BNB, EOS and XLM – 10/03/19

Ripple, Dash coin, Bitcoin, Monero and Ethereum

BNB

Binance rallied by 22.3% in the week ending 9th March. Following on from a 9.84% gain from the previous week, Binance ended the week at $14.7348.

A relatively bearish start to the week saw Binance fall to a Monday intraday week low $11.00 before making a move.

3 consecutive days in the green saw Binance rally to an intraweek high and new swing hi $15.9101 before easing back. Binance broke through the week’s first major resistance level at $13.0385 and second major resistance level at $14.0294.

A bearish Friday saw Binance slide back to $13 levels before finding support to end the week at $14 levels. Holding onto $15 levels proved to be a challenge through the week. A return to $15 levels on Saturday was short-lived, though Binance managed to close out the day above the second major resistance level.

For the week ahead,

A hold onto $14 levels through the early part of the week would support another positive week ahead for Binance.

A move back through to $15.00 levels would bring the week’s first major resistance level at $16.7619 into play. Barring a broad-based crypto rally, we would expect Binance to fall short of $17 levels.

The first major resistance level at $16.7619 and a 5th consecutive week in the green would likely cap the upside.

Failure to hold onto $14 levels could see Binance slide through to $12.00 levels before any recovery. In the event of reversal, we would expect the first major support level at $11.856 to prevent heavier losses in the week.

A broad-based crypto sell-off would unlikely have a more material impact on the downside. The anticipated demand for Binance Coin during fundraising projects on the Binance Launchpad platform is the differentiator for now.

At the time of writing, Binance was down by 0.61% to $14.6452.

BNB/USD 10/03/19 Weekly Chart

EOS

EOS gained 7.52% in the week ending 9th March. Partially reversing an 18.06% slide from the previous week, EOS ended the week at $3.8298.

A choppy start to the week saw EOS slide to a Monday intraweek low $3.1534 before finding support.

Steering clear of the first major support level at $3.0993, EOS rallied to a Thursday intraweek high $4.0015 before easing back.

While breaking back through to $4.00 levels, EOS fell well short of the week’s first major resistance level at $4.2808.

For the week ahead,

A hold onto $3.70 levels through the early part of the week would support another bullish week ahead. A move through last week’s high $4.0015 would bring the first major resistance level at $4.1697 into play. In the event of a broad-based crypto rally, a return to $4.50 levels could be on the cards. We would expect the second major resistance level at $4.5097 to pin EOS back from more material gains, however.

Failure to hold onto $3.70 levels could see EOS test the week’s first major support level at $3.3216 before any recovery. Barring a crypto meltdown, we would expect sub-$3.00 levels and the second major support level at $2.8135 to be left untested.

At the time of writing, EOS was down 1.73% to $3.7637.

EOS/USD 10/03/19 Weekly Chart

Stellar’s Lumen

Stellar’s Lumen rose by 7.31% in the week ending 9th March. Partially reversing the previous week’s 11.25% slide, Stellar’s Lumen ended the week at $0.09215.

A bullish start to the weeks saw Stellar’s Lumen rise to a Sunday high $0.09144 before hitting reverse. Tracking the broader market on Monday, Stellar’s Lumen slid to an intraweek low $0.08150 before finding support.

The moves through the early part of the week left the major support and resistance levels untested.

A bullish second half of the week saw Stellar’s Lumen rally to an intraweek high $0.09399 before easing back. In spite of the strong finish, Stellar’s Lumen was unable to test selling pressure at the first major resistance level at $0.0958.

For the week ahead,

A hold onto $0.0970 levels through the early part of the week would support a run at the second major resistance level at $0.1017. Moves through the early part of Sunday morning saw Stellar’s Lumen rally to an early in the week high $0.0981. The early rally saw Stellar’s Lumen break through the week’s first major resistance level at $0.0969.

Support from the broader market would be needed however for Stellar’s Lumen to hold onto $0.010 levels in the event of a breakout.

Failure to hold onto $0.0970 levels could see Stellar’s Lumen slide back to sub-$0.090 levels. A pullback would bring the week’s first major support level at $0.0844 into play before any recovery. Barring a broad-based crypto meltdown, we would expect Stellar’s Lumen to hold above last week’s low $0.0815.

At the time of writing, Stellar’s Lumen was up by 5.94% to $0.09762.

XLM/USD 10/03/19 Weekly Chart

Binance Coin Analysis – Resistance Levels in Play – 06/03/19

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Binance Price Resistance

It’s been a bullish start to the week for Binance. Recovering from a 0.11% fall on Monday, Binance rallied by 19.75% on Tuesday to end the day at $13.9626.

The gains were off the back of a 14.93% rally last week, which came in spite of a 3% slide on Sunday.

Last week’s intraweek high $12.1663, struck on 3rd March saw Binance breakout from the 38.2% FIB of $9.5269 to come within range of the 62% FIB of 12.835. Binance formed a near-term bullish trend from early December’s swing lo $4.17 off the back of last week’s rally.

The bullish sentiment spilled into the early part of this week, with Binance up by 19.6% Monday through Tuesday.

A relatively range bound Monday saw Binance slip to sub-$12.00 levels before Tuesday’s rally.

Finding support from the broader market on Tuesday, Binance rallied to an early in the week high and new swing hi $14.5358 before easing back.

The breakout saw Binance break through the week’s first major resistance level at $12.8163 and second major resistance level at $13.9519.

Monday’s early in the week low $11.0853 saw Binance stand well clear of the week’s first major support level at $9.8950.

At the time of writing, Binance was down by 3.86% to $13.4234.

A bearish start to the day saw Binance slide from a morning high $14.0041 to a low $13.3740.

The pullback saw Binance fall back through the week’s second major resistance level at $13.9519 in the early hours.

BNB/USD 06/03/19 Weekly Chart

For the remainder of the week

A hold above $13.37 levels through the middle part of the week would support upward momentum going into the weekend. A break back through the second major resistance level at $13.9519 would bring $14 levels back into play.

Support from the broader market would see Binance take a run at the current week’s high $14.5358.  A break through the current week high would bring $15 levels into play.

We would expect Binance to come up short of $16 levels and the third major resistance level at $16.8732, however.

Failure to hold above $13.37 could see Binance give up more of the week’s gains. A fall through to sub-$13 levels would likely see Binance slide back through the first major resistance level at $12.8163 before any recovery.

Barring a broad-based crypto sell-off, we would expect Binance to avoid sub-$12 levels. For the bears, a fall through to $11.10 levels would signal a mass sell-off that could see Binance test the week’s first major support level at $9.8950.

Looking at the Technical Indicators

Major Support Level: $9.8950

Major Resistance Level: $12.8163

23.6% FIB Retracement Level: $10.28

38.2% FIB Retracement Level: $9.11

62% FIB Retracement Level: $7.23

Altcoins Weekly Analysis –BNB, ETH and XLM – 03/03/19

Bitcoin, Ethereum, Litecoin Digital cryptocurrencys on a notebook

BNB

Binance rose by 9.84% in the week ending 2nd March. Following on from an 18.6% rally from the previous week, Binance ended the week at $12.0477.

A bearish start to the week saw Binance slide from a Sunday high $11.5625 to a Wednesday intraweek low $9.245. The pullback saw Binance come within range of the first major support level at $9.3725.

Following 3 consecutive days in the red, Binance rallied for 4 consecutive days to strike an intraday week high $12.1326 on Saturday. The rally saw Binance break through the 38.2% FIB of $9.5269 to form a near-term bullish trend. In spite of the upward momentum, Binance was pinned back by the week’s first major resistance level at $12.1197.

Bucking the broader market trend through the week, the upward momentum saw Binance move through to the number 8 spot by market cap.

For the week ahead,

A hold above $11.15 levels in the early part of the week would support further upside later in the week. A move back through last week’s high $12.1326 would bring the first major resistance level at $13.0385 into play.

Barring a broad-based crypto rally, we would expect Binance to fall short of $15.00 levels. The second major resistance level at $14.0294 would like cap the upside in the event of a breakout.

Failure to hold above $11.15 could see Binance test the first major support level at $10.1509. We would expect some profit taking to weigh in the early part of the week, however. Sub-$10.00 levels would likely be avoided in the event of a sell-off. Binance would likely receive plenty of support at the first major support level to avoid heavier losses in the week.

At the time of writing, Binance was down by 2.1% to $11.7952.

BNB/USD 03/03/19 Weekly Chart

Ethereum

Ethereum tumbled by 16.01% in the week ending 2nd March. Partially reversing a 29.63% rally from the previous week, Ethereum ended the week at $132.32.

Tracking the broader market, Ethereum slid from an intraweek high $165.62 to an intraweek low $125.70. Most of the damage was done on Sunday when Ethereum tumbled to $131 levels.

Ethereum fell through the first major support level at $132.66 on Wednesday. A steadier 2nd half of the week saw Ethereum recover to $140 levels. Ethereum was unable to hold on, however, sliding back through the first major support level to $132 level on Saturday.

For the week ahead,

Ethereum would need to move through to $141 levels to signal a rebound from the previous week. An early move through to $141 levels would support a run at $150 levels. Ethereum would need support from the broader market, however, to bring the first major resistance level at $156.73 into play.

We would expect Ethereum to come up short of last week’s high $165.62 in the event of a rebound.

Failure to move through to $141 levels could see Ethereum come under pressure mid-week. A fall through to $130 would bring $125 levels into play before any recovery. Barring a broad-based crypto sell-off, we would expect Ethereum to steer clear of the first major support level at $116.81.

At the time of writing, Ethereum was up by 0.72% to $133.27.

ETH/USD 03/03/19 Weekly Chart

Stellar’s Lumen

Stellar’s Lumen slid by 11.25% in the week ending 2nd March. Partially reversing the previous week’s 20.15% gain, Stellar’s Lumen ended the week at $0.08535.

A bearish start to the week saw Stellar’s Lumen slide from an intraweek high $0.09940 to an intraday week low $0.08196. The reversal saw Stellar’s Lumen slide through the first major support level at $0.08320 before finding support.

Attempts at a return to $0.09 levels failed, with Stellar’s Lumen ending the week below the first major support level.

Stellar’s Lumen came up short of the first major resistance level at $10.1032 at the start of the week.

For the week ahead,

A move through to $0.0890 levels would support upward momentum through the week. Moving through to $0.09 levels would bring the first major resistance level at $0.0958 into play. We would expect Stellar’s Lumen to continue to fall short of $0.10 levels, however. Stellar’s Lumen will likely be pinned back by last week’s high $0.0994 and the first major resistance level.

Failure to move through to $0.0890 levels could see Stellar’s Lumen struggle through the week. A fall through last week’s low $0.08196 would bring $0.070 levels into play. We would expect Stellar’s Lumen to test the first major support level at $0.0784 in the event of a sell-off. Sub-$0.070 levels would likely be avoided, however. The second major support level at $0.0715 would prevent more material losses in the event of a crypto meltdown.

At the time of writing, Stellar’s Lumen was up by 0.25% to $0.08557.

XLM/USD 03/03/19 Weekly Chart

Ethereum Coin Analysis – Support Levels Remain in Play – 27/02/19

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Ethereum Price Support

It’s been a relatively choppy start to the week for Ethereum. A 16.4% slide on Sunday left Ethereum with a 0.43% loss for the week ending 24th February. Partially recovering the Sunday tumble, Ethereum managed a 4.46% gain on Monday before hitting reverse.

An early in the week high $141.09 saw Ethereum fall well short of the week’s first major resistance level at $154.59 before pulling back. The pullback saw Ethereum slide to a current week low $130.6 before finding support. Ethereum held well above the week’s first major support level at $119.97 in the early part of the week.

Attempts at a return to $140 levels have led to reversals, suggesting that $140 is the near-term line in the sand for the bulls.

In spite of Sunday’s reversal and a mixed start to the week, Ethereum is up by 2.96% for the current week. For the bulls, Ethereum continues to sit well above mid-December’s swing lo $80.60.

Falling back through to sub-$140 levels this week will leave Ethereum under pressure. For the bears, $120 will be the next target. Since December’s swing low $80.6, Ethereum has jumped by 68%. There are plenty of reasons for speculative investors to lock in the gains should sentiment across the broader market deteriorate further.

In spite of the solid gains since a mid-December swing lo $80.60, the extended bearish trend remained intact.  Ethereum continued to fall well short of the 23.6% FIB Retracement Level of $257 and more importantly, the 38.2% FIB of $367.

At the time of writing, Ethereum was down by 0.38% to $135.15. An early reversal saw Ethereum fall to a morning low $134.1 before finding support.

Steering clear of the current week’s low $130.6 was key through the early part of the morning.

ETH/USD 27/02/19 Weekly Chart

For the remainder of the week

A move back through to $142.80 levels would signal an Ethereum rebound from Sunday’s sell-off. Breaking through to $143 levels would bring $150 levels and the week’s first major resistance level at $154.69 into play.

Ethereum would need support from the broader market, however, to break out from $140. A broad-based crypto rally would be needed to bring $150 levels back into play. We would expect Ethereum to come up well short of last week’s high $165.62 in the event of a crypto rebound.

Failure to move back through to $140 levels could see Ethereum give up the current week’s gains. A pullback through the current week low $130.6 would bring $125 levels into play before any recovery.

Barring a continued reversal through the middle of the week, we would expect Ethereum to steer clear of the week’s first major support level at $119.97. Holding onto $130 levels through to the weekend would be key to avoiding the week’s major support levels.

Looking at the Technical Indicators

 

Major Support Level: $119.97

Major Resistance Level: $154.59

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Altcoins Weekly Analysis –EOS, ETH and TRX – 24/02/19

Altcoins

EOS

EOS surged by 53.26% in the week ending 23rd February. Following a 0.57% gain from the previous week, EOS ended the week at $4.3387.

It was a particularly bullish week for EOS, which saw just 1-day in the red. Rising from a start of a week intraweek low $2.8227, EOS rallied to a Saturday intraday week high $4.4237.

6-days in the green saw EOS breakthrough the week’s major resistance levels, whilst steering clear of the major support levels.

From the top 10 cryptos by market cap, EOS led the way through the week.

For the week ahead,

A hold onto $4.00 levels through the early part of the week would support further gains in the week ahead. A breakthrough last week’s high $4.4237 would bring the week’s first major resistance level at $4.90 into play before any pullback. Barring another broad-based cryptomarket rally, we would expect EOS to come up short of the second major resistance level at $5.46.

Failure to hold onto $4.00 levels could see EOS fall through to $3.80 levels. A pullback to $3.70 levels would likely see EOS call on support at the first major support level at $3.3 before any recovery. Barring a broad-based crypto sell-off, we would expect sub-$3.00 support levels to be left untested through the week.

At the time of writing, EOS was up by 0.45% to $4.3583.

EOS/USD 24/02/19 Weekly Chart

Ethereum

Ethereum rallied by 29.63 in the week ending 23rd February. Following on from a 3.05% gain from the previous week, Ethereum ended the week at $157.56.

A particularly bullish start to the week saw Ethereum breakthrough the major resistance levels to Monday high $147.8. Range bound through to Friday, Ethereum held onto the early in the week gain before surging to an intraweek high $159.91 on Saturday.

A start of a week intraweek low $121.38 saw Ethereum steer well clear of the week’s first major support level at $115.97.

For the week ahead,

Ethereum would need to hold above $155 levels through the early part of the week to support a breakout to $160 levels.

Following a solid week of gains, support from the broader market would be needed for Ethereum to take a run at the week’s first major resistance level at $171.20. We would expect Ethereum to come up short of $180 levels and the second major resistance level at $184.8 in the event of a breakout.

Failure to hold above $155 levels could see Ethereum pullback through to sub-$150 levels. In the event of a sell-off, holding above $146 levels would be key. A pullback through to sub-$146 levels would likely see Ethereum come under more selling pressure before any recovery. We would expect the week’s first major support level at $132.66 to be left untested, however.

At the time of writing, Ethereum was up by 0.76% to $158.76.

ETH/USD 24/02/19 Weekly Chart

Tron’s TRX

 

Tron gained 8.49% in the week ending 23rd February. Reversing most of the previous week’s 10.21% slide, Tron ended the week at $0.02593.

A bullish start to the week delivered Tron’s gains. Tron rallied from a start of a week intraday week low $0.02415 to an intraweek high $0.0265 on Monday before easing back.

The early moves saw Tron break through the week’s first major resistance level at $0.0259. Tron steered clear of the week’s major support levels.

2-consecutive days in the green at the end of the week saw Tron recover from a pullback to $0.024 levels mid-week. Tron closed out the week above the first major resistance level.

For the week ahead,

A hold above $0.0255 levels through the early part of the week would support another bullish week ahead. A breakthrough last week’s high $0.0265 would bring the week’s first major resistance level at $0.0270 into play. Support from the broader market would be needed to bring the second major resistance level at $0.0280 into play before any pullback. We would expect Tron to continue to come up short of $0.030 levels and the 23.6% FIB of $0.0322.

Failure to hold above $0.0255 could see Tron fall back through the first major support level at $0.0244 before any recovery. Barring a broad-based crypto sell-off, we would expect Tron to steer clear of sub-$0.023 levels, in the event of a pullback.

At the time of writing, Tron was up by 0.59% to $0.02608.

TRX/USD 24/02/19 Weekly Chart

Ethereum Coin Analysis – Resistance Levels in Play – 20/02/19

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Ethereum Price Resistance

It’s been a particularly bullish start to the week for Ethereum. Following a 6.79% gain in the week ending 18th February, Ethereum surged by 9.29% on Monday before hitting choppier waters on Tuesday.

The gains came off the back of a 16.95% rally in the week ending 11th February that has ultimately created some distance from mid-December’s swing lo $80.60.

A trend-bucking 1.31% fall on Tuesday did little to dent the momentum seen through February.  Ethereum was one of a number of the top 10 cryptos, by market cap, to see red on the day. For the current month, Ethereum is now up 34.88% and by 77% from December’s swing lo.

The early in the week rally saw Ethereum strike a week high $149.47 on Tuesday before easing back to $142 levels. The rally saw Ethereum break through the week’s first major resistance level at $138.65 and second major resistance level at $144.97.

A start of a week low $131.05 saw Ethereum steer well clear of the week’s first major resistance level at $121.51 as the weekend rally continued.

Holding onto $140 levels through Tuesday was key. Ethereum will need to avoid pullback through to sub-$138 levels ahead of the weekend.

For the bulls, a run of 4 consecutive days in the green came to an end. The end of the run could spell trouble as the broader market saw green on the day.

In spite of the solid gains since a mid-December swing l0 $80.60, the extended bearish trend remained intact.  Ethereum continued to fall well short of the 23.6% FIB Retracement Level of $257 and more importantly, the 38.2% FIB of $367.

At the time of writing, Ethereum was up by 0.27% to $143.07. Following Tuesday’s trend-bucking fall, support kicked in at the start of the day. Ethereum rose from a morning low $142.50 to a morning high $143.50 before easing back.

The week’s major support remained untested early. For the bulls, Ethereum continued to hold above the first major resistance level at $138.65.

ETH/USD 20/02/19 Weekly Chart

For the remainder of the week

A hold onto $140 levels through the middle of the week would support another run at the first major resistance level at $144.97. A break back through to $145 levels would bring the current week’s high $149.47 into play before any pullback.

For Ethereum to move through to $150 levels, considerable support from the broader market would be needed going into the weekend. A late Tuesday reversal across the broader market could test the latest rally mid-week.

Failure to hold onto $140 levels mid-week could see Ethereum give up some of the current week’s gains. A pullback through Tuesday’s low $142.46 could see Ethereum fall through to sub-$140 levels before any recovery.

We would expect some profit taking to test investor resolve mid-week. However, Ethereum would likely steer well clear of sub-$130 levels and the week’s first major support level at $121.51, in the event of a sell-off.

Looking at the Technical Indicators

Major Support Level: $121.51

Major Resistance Level: $138.65

23.6% Fib Retracement Level: $257

38% Fib Retracement Level: $367

62% Fib Retracement Level: $543

Altcoins Weekly Analysis – BNB, EOS and XLM – 17/02/19

Cryptomania

Binance (“BNB”)

BNB rose by 2.47% in the week ending 16th February. Following on from a 29.3% rally from the previous week, BNB ended the week at $9.251.

A particularly bullish start to the week saw BNB rally to a Monday intraweek high $10.083 before hitting reverse. The early rally saw BNB break through the week’s first major resistance level at $9.9369 and the 38.2% FIB Retracement Level of $9.5269.

The reversal saw BNB slide to a Thursday intraweek low $8.5216 before finding support from the broader market.

Steering clear of the week’s first major support level at $7.3909, BNB broke back through to $9.00 levels and the 38.2% FIB on Friday before easing back.

For the week ahead,

BNB would need to move through $9.2850 levels to support another run at $10.00 levels. A breakthrough to $10.00 levels would bring the week’s first major resistance level at $10.0488 into play before any pullback.

For the BNB bulls, the 38.2% FIB remains a key line in the sand.

Following some relatively bullish moves through February, BNB up by 45.6% for the current month, we would expect BNB to fall short of the second major resistance level at $10.8466 and $11 levels in the week.

Failure to move through to $9.2850 levels could see BNB hit reverse. A pullback to sub-$9.00 levels would bring last week’s low $8.5216 and this week’s first major support level at $8.4874 into play before any recovery.

We would expect BNB to avoid heavier losses and a pullback to sub-$8.00 levels in the week, in the event of a reversal.

At the time of writing, BNB was up by 0.13% to $9.2391.

BNB/USD 17/02/19 Weekly Chart

EOS

EOS rose by 0.57% in the week ending 16th February. Following on from a 13.31% rally from the previous week, EOS ended the week at $2.8301.

A relatively bullish start to the week saw EOS rally to a Tuesday intraday week high $3.066, breaking through the week’s first major resistance level at $3.0236 before hitting reverse.

Sliding from $3.00 levels, EOS fell back to $2.7 levels before finding support late in the week to move back into the green and end the week at $2.80 levels.

A start of a week intraday week low $2.6954 saw EOS steer well clear of the week’s first major support level at $2.459, with a hold above $2.67 levels through the week key to avoiding losses that were seen elsewhere in the cryptomarket.

For the week ahead,

A move through to $2.8650 levels would support another run at $3.00 levels to bring the week’s first major resistance level at $3.0323 into play before any pullback.

While we would expect EOS to continue to fall well short of $4.00 levels, a broad-based crypto rally could bring the second major resistance level at $3.2344 into play before any pullback. The rally would need to be a significant one, however, with Bitcoin needing to take a run at $4,000 levels to deliver an EOS breakout.

Failure to move through to $2.8650 levels could see EOS take a slide through last week’s low $2.6954 to bring the first major support level at $2.6617 into play.

Barring a broad-based crypto sell-off, we would expect EOS to find sufficient support to avoid sub-$2.60 levels and the second major support level at $2.4932.

At the time of writing, EOS was up by 0.86% to $2.8545.

EOS/USD 17/02/19 Weekly Chart

Stellar’s Lumen

Stellar’s Lumen fell by 3.09% in the week ending 16th February. Following on from a 3.29% slide from the previous week, Stellar’s Lumen ended the week at $0.07940.

Stellar’s Lumen had a bearish start to the week. Falling from $0.0826 levels, Stellar’s Lumen slid to a Thursday intraday week low $0.07596 before finding support. In spite of the reversal, Stellar’s Lumen steered clear of the week’s first major support level at $0.0747.

A broad-based cryptomarket rally on Friday provided much-needed support, with Stellar’s Lumen rallying to an intraweek high $0.0830 before sliding back to sub-$0.0800 levels.

The day’s rally saw Stellar’s Lumen come up well short of the week’s first major resistance level at $0.0863 before the pullback.

For the week ahead,

A move through $0.0795 levels would support a move back through to $0.080 levels and a run at the week’s first major resistance level at $0.0830.

Support from the broader market would be needed for Stellar’s Lumen to hold onto $0.080 levels through the week, with resistance at $0.080 continuing to pin Stellar’s Lumen back from a breakout.

Barring a broad-based crypto rally, we would expect Stellar’s Lumen to come up short of the week’s second major resistance level at $0.0865.

Failure to move through $0.0795 levels and hold could see Stellar’s Lumen call on support at the week’s first major support level at $0.0759 before any recovery.

Barring a broad-based crypto sell-off, we would expect Stellar’s Lumen to avoid heavier losses and the second major support level at $0.0724. Last week’s low $0.07596 will likely to limit the downside.

At the time of writing, Stellar’s Lumen was up by 0.80% to $0.07877.

XLM/USD 17/02/19 Weekly Chart

Binance Coin Analysis – Support Levels Eyed – 13/02/19

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Binance Coin Price Support

It’s been a mixed start to the week for Binance. Binance managed a 3.3% rise on Monday before hitting reverse. Monday’s gain came off the back of a 35.5% rise from last week.

The Monday rally saw Binance strike an early week high $9.936 before hitting reverse on Tuesday. The reversal saw Binance slide from an early morning high $9.888 to an early in the week low $9.0564 before finding support. Binance ended Tuesday with a 2.3% loss.

Steering well clear of the week’s first major support level at $7.4909, the key through the early part of the week was holding onto $9.00 levels.

In spite of the solid gains since early December’s swing lo $4.1724, the extended bearish trend remains intact.

Moves through the early part of this week saw Binance attempt a breakout from the 38.2% FIB Retracement Level of 9.5269. Selling pressure led to a fall back through the 38.2% FIB.  In spite of the pullback, Binance managed to hold well above the 23.6% FIB Retracement Level of $7.4804.

At the time of writing, Binance was down by 2.25% to $9.2154.  Binance fell from the start of a day morning high $9.5577 to a morning low $9.1101 before finding support. The early moves saw Bucking the trend from across the broader market

While steering clear of the week’s major support level at $7.4909, the pullback saw Binance call on support at $9.00 levels and the day’s first major support level at $8.9331 in the early hours.

BNB/USD 13/02/19 Weekly Chart

For the remainder of the week

Binance would need to hold onto $9.00 levels to support a mid-week recovery. Tuesday and this morning’s slides have pulled Binance into the red for the current week.

Having bucked the trend from the broader market in recent weeks, a move back through Tuesday’s end of day $9.428 to $9.50 levels would be needed to support a run at the 38.2% FIB Retracement Level of $9.5269.

However, we would expect Binance to face strong resistance at the 38.2% FIB. Binance will likely be pinned back from a run at $10.00 levels.  The week’s first major resistance level at $10.3811 will likely be left untested ahead of the weekend.

Should Binance manage breakthrough to $9.50 levels ahead of the weekend, support from the broader market could see Binance take a run at $10.00 levels before any pullback.

Failure to hold onto $9.00 levels could see Binance’s downward move accelerate through the week. A fall through $8.60 levels could bring the week’s first major support level at $7.4909 into play.  The 23.6% FIB Retracement Level of $7.4804 may also come into play before any recovery, in the event of a sell-off.

Facing the prospects of a 3rd consecutive day in the red, a 10% slide for the week wouldn’t be completely unreasonable. Following last week’s rally, some of the cream is likely to come off the top.

Looking at the Technical Indicators

Major Support Level: $7.4909

Major Resistance Level: $10.3811

Fib 23.6% Retracement Level: $7.4804

Fib 38% Retracement Level: $9.5269

Fib 62% Retracement Level: $12.835