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

Crypto00 567

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.

Ethereum Analysis – Resistance Levels in Play – 10/04/19

Bitcoin coin on white keyboard

Ethereum Price Resistance

It’s been a choppy start to the week for Ethereum. Following last week’s 23.8% rally to $178 levels, Ethereum is up by 0.53%, Monday through Tuesday.

A particularly bullish start to the week saw Ethereum strike an early Monday morning current week high $187.62 before sliding back.

Coming up short of the week’s first major resistance level at $190.36, Ethereum slid to a Monday current week low $174.07.

Steering well clear of the week’s major support levels, Ethereum managed a return to $180 levels before falling back to $174 levels.

The bullish start to the week saw Ethereum gain 3.33% before sliding by 2.72% on Tuesday. In spite of the choppy week, Ethereum managed to break through to $180 levels for the first time since 18th November. Ethereum is up by 34.6% year-to-date, most of which came off the back of last week’s crypto rally.

While it’s been relatively bullish across the broader market, 18th November was when Ethereum was in mid-sell-off on the way to its December swing lo $80.6.

The extended bearish trend, formed at last May’s swing hi $828.97, remains firmly intact. Ethereum continues to fall well short of the 23.6% FIB Retracement Level of $257, following December’s swing lo $80.6.

The good news is that Ethereum has managed to make up significant ground since December’s swing lo. The bad news is that the lack of activity in the ICO market may test investor resilience down the track.

At the time of writing, Ethereum was up by 0.87% to $177.36. A relatively bullish start to the day saw Ethereum rise from a morning low $175.04 to a high $177.89. The day’s major support and resistance levels were left untested in the early hours.

ETH/USD 10/04/19 Weekly Chart

For the remainder of the week

A move back through to $180 levels mid-week would support another run the first major resistance level at $190.36. Support from the broader market would be needed, however, for Ethereum to break through this week’s high $187.62.

Barring a broad-based crypto rally, we expect Ethereum to struggle to break out from $180 levels going into the weekend.

Failure to move back through to $180 levels could see Ethereum give up gains from the early part of the week.

A slide back through the current week low $173.95 would bring sub-$170 levels into play. Barring a crypto meltdown, we would expect Ethereum to steer well clear of the first major support level at $149.07.

While a move back through to $180 levels would support a continuation of the Ethereum recovery, a slide through to $164 levels would signal a possible return to sub-$150s going into the weekend.

Looking at the Technical Indicators

Major Support Level: $149.07

Major Resistance Level: $190.36

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Crypto Bulls Give Up Ground, But Not By Enough To Sound the Alarm

Crypto00 567

Bitcoin was amongst the crypto few that saw green at the start of the week. Following last week’s 25.7% rally, Bitcoin gained 1.4% on Monday to end the day at $5312.4.

Tracking the broader market through the morning, Bitcoin struck an intraday high $5,373.9 before hitting reverse. Bitcoin broke through the first major resistance level at $5,348.07 before sliding to a mid-day intraday low $5,138.6.

Steering clear of the first major support level at $5,101.47, Bitcoin bounced back in the 2nd half of the day. The recovery saw Bitcoin break back through to $5,300 levels and hold onto $5,000 levels for a 4th consecutive day.

Elsewhere

Across the top 10 cryptos, it was a mixed day coming off the back of last week’s broad-based crypto rally.

Ethereum returned to winning ways on the day, rallying by 3.33% to lead the pack at the start of the week.

Joining Bitcoin and Ethereum was EOS, which managed a 1.68% rise on the day.

For the rest of the pack, it was deep red. Binance Coin saw the heaviest losses, sliding by 5.05%. The diverging moves between Ethereum and Binance Coin make sense when considering that the pair compete for fundraising projects.

For Bitcoin Cash ABC, Litecoin and Cardano’s ADA, profit taking would have contributed to the reversal on the day.

Bitcoin Cash ABC and Litecoin rallied by 91.7% and 52.3% in the week ending 7th April. Cardano’s ADA also found strong support, rallying by 28.2% to continue to hold a spot in the top 10. The week-long rally left Cardano’s ADA up 117% year-to-date.

On the news wires, reports of PayPal’s new fee structures will have given sidelined Bitcoin investors food for thought. While the cryptos are looking to do away with fees, PayPal has thrown in a structure that will be more punitive to those remitting smaller sums.

When viewing Litecoin and even Ripple’s XRP, the latest news appears to have had limited impact on the cryptomarket till now. But we can expect an influence should PayPal user numbers begin to dwindle and crypto adoption see a marked increase.

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This morning,

At the time of writing, Bitcoin was down by 0.56% to $5,282.8. Bearish through the first hour, Bitcoin fell from a morning high $5,312.4 to a low $5,273 before steadying.

The day’s major support and resistance levels were left untested early on.

Elsewhere across the top 10 cryptos, it was a sea of red. At the time of writing, EOS was leading the way down with a 1.81% fall. Binance Coin saw the most modest losses within the first hour, down by just 0.34%.

BTC/USD 09/04/19 Daily Chart

For the day ahead

A hold onto $5,270 levels through the morning would support a move back into positive territory later in the day. Following Monday’s gains, support from the broader market would be needed, however, for Bitcoin to take a run at Monday’s high $5,373.9. Barring a broad-based crypto rally, we would expect Bitcoin to come up short of the first major resistance level at $5,411.33.

Failure to hold onto $5,270 levels could see Bitcoin give up Monday’s gains. A pullback through to $5,220 levels would bring the first major support level at $5,176.03 into play. Barring a crypto meltdown, Bitcoin will likely avoid sub-$5,100 support levels on the day. In the event of a sell-off, the second major support level at $5,039.67 should prevent a slide to sub-$5,000 levels.

For the broader market, a slide back to $5,000 levels will likely weigh heavily.

Altcoins Weekly Analysis – ADA, EOS, and ETH – 07/04/19

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Cardano’s ADA

Cardano’s ADA surged by 24.18% in the week ending 7th April. Following on from a 13.58% gain the previous week, Cardano’s ADA ended the week at $0.090774.

A relatively range-bound start to the week saw Cardano’s ADA pullback to an intraweek low $0.06323.

Steering clear of the first major support level at $0.0622, Cardano’s ADA rallied to an intraday week high $0.103722. Support from the broader market kicked in, driving Cardano’s ADA through the week’s major resistance levels on Wednesday.

Through the 2nd half of the week, Cardano’s ADA eased back to sub-$0.10 levels. The pullback saw Cardano’s ADA fall through the third major resistance level at $0.1366 and second major resistance level at $0.0961.

The week’s rally gave Cardano’s ADA a 7th consecutive week in the green.

For the week ahead,

A hold above $0.0860 levels through the early part of the week would support another week in the green. A move back through $0.0950 levels would bring $0.10 levels and the first major resistance level at $0.1086 into play. Support from the broader market would be needed, however, for a breakout from $0.10 levels. Barring another crypto rally, we would expect Cardano’s ADA to fall short of the second major resistance level at $0.1264.

Failure to hold onto $0.0870 levels could see Cardano’s ADA take a hit in the week. Barring a broad-based crypto sell-off, however, we would expect Cardano’s ADA to avoid sub-$0.080 levels. In the event of a crypto sell-off, a pullback through to $0.070 levels would bring the first major support level at $0.0681 into play.

At the time of writing, Cardano’s ADA was down 0.27% to $0.090527.

ADA/USD 07/04/19 Weekly Chart

EOS

EOS jumped by 27.45% in the week ending 7th April. Following on from a 13.51% rise from the previous week, EOS ended the week at $5.377.

Bullish from the start of the week, EOS rallied from a Sunday intraweek low $4.1544 to a Wednesday intraweek high $5.99.

Steering well clear of the major support levels, EOS broke through the week’s major resistance levels before easing back.

A Thursday pullback saw EOS fall through the third major resistance level at $5.8075 and second major resistance level at $4.9555 before breaking back through to $5.00 levels to hit a weekend high $5.7639.

For the week ahead,

A move through to $5.50 would support a bullish run through the week ahead. Following 2 consecutive weeks in the green, however, support from the broader market would be needed for EOS to take a run at the first major resistance level at $6.19. In the event of a crypto rally, the second major resistance level at $7.01 would likely be in play. We would expect EOS to come up short of the third major resistance level at $8.85, however.

Failure to move through $5.50 could see EOS give up some of the previous week’s gains. A pullback through to $4.60 levels would bring the first major support level at $4.36 into play. Barring a crypto meltdown, however, we would expect EOS to avoid $3.0 levels and the second major support level at $3.34.

At the time of writing, EOS was up 0.13% to $5.3839.

EOS/USD 07/04/19 Weekly Chart

Ethereum

Ethereum rallied by 16.65% in the week ending 7th April. Following on from a 4.1% gain from the previous week, Ethereum ended the week at $165.79.

A bearish start to the week saw Ethereum pullback to a Monday intraweek low $138.81 before making a move.

Holding well above the first major support level at $133.35, Ethereum rallied to an intraweek high $180.1. A broad-based crypto rally on Tuesday and Wednesday delivered the upside for the week.

Ethereum broke through the week’s major resistance levels before sliding back to $150 levels on Thursday. The pullback saw Ethereum fall back through the third major resistance level at $169.09 and second major resistance level at $154.25.

Support from the broader market led to a move back through to $160 levels on Saturday.

For the week ahead,

A hold above $162 levels would support further gains through the week ahead. A move back through to $170 levels would bring last week’s high $180.1 into play. Support from the broader market would be needed for Ethereum to break through the first major resistance level at $184.32. Barring a broad-based crypto rally, we would expect Ethereum to fall short of $190 levels.

Failure to hold above $162 levels could see Ethereum hit reverse through the week. A pullback through to $154 levels would bring the first major support level at $143.03 into play. Barring a broad-based crypto sell-off, however, we would expect Ethereum to avoid sub-$140 support levels.

At the time of writing, Ethereum was down by 0.14% to $165.55.

ETH/USD 07/04/19 Weekly Chart

Wednesday Delivers another Crypto Surge but Cracks Are Starting to Appear

Bitcoin and Litecoin over dollar banknotes.

Bitcoin consolidated Tuesday’s 17.3% rally on Wednesday, with a 1.13% gain to end the day at $4,978.

A bullish start to the day saw Bitcoin rise to a morning high $5,090.1 before easing back to sub-$5,000 levels.

Steering clear of the day’s major support and resistance levels early on, Bitcoin found support through the afternoon.

Rallying through to an intraday high $5,335.3, Bitcoin broke through the first major resistance level at $5,290.2 before easing back.

A late pullback saw Bitcoin give up $5,000 levels for a second consecutive day.

Elsewhere

Across the top 10 cryptos, it was a mixed day coming off the back of Tuesday’s broad-based crypto rally.

Bitcoin Cash ABC stole the show for a second consecutive day, rallying by 23.3% off the back of Wednesday’s 45.7% surge. The breakout reaffirmed the near-term bullish trend form at late January’s swing lo $105.

Litecoin was once again 2nd best. A 10.35% rally could have been much more had it not been for a late pullback. Moves through the day saw Litecoin strike a day high $99.89. A move through to $100 levels would see Litecoin form a near-term bullish trend. It wasn’t to be on the day.

For the rest of the pack, Binance saw the heaviest losses on the day, sliding by 6.3%. There were also losses for Ripple’s XRP (-3.6%), Ethereum (-1.96%), and Stellar’s Lumen (-0.49%).

Moves through the first half of the week saw Bitcoin Cash overtake Litecoin by market cap to move into the number 4 spot. Last year’s hard fork had certainly caused investors some pain, but the recovery has been ongoing since late January.

The latest moves led the total crypto market cap to a high $185.19bn before easing back to $170 levels. 24-hour volumes managed to hold, in spite of the choppy end to the day on Wednesday. Volumes hit $88bn levels before easing back, suggesting that there’s still plenty of interest at current price levels.

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At the time of writing, Bitcoin was up 0.44% to $4,999.7. A relatively range-bound start to the day saw Bitcoin rise from a morning low $4,916 to a morning high $5,066.6.

Moves through the early morning saw Bitcoin leave the major support and resistance levels untested.

Elsewhere, there was some red on the crypto-board. While Binance Coin was on the move, up by 2.75%, Stellar’s Lumen and Cardano’s ADA saw the heaviest losses early on. The pair were down by 1.77% and by 1.43% respectively.

BTC/USD 04/04/19 Daily Chart

For the day ahead

A move back through to $5,050 levels by the early afternoon would support another Bitcoin and broad-based crypto rally. A move through the morning high $5,066.6 would bring $5,200 levels back into play before any pullback.

Barring a broad-based crypto rally, however, we would expect Wednesday’s high $5,335.5 to be out of reach on the day.

Failure to move through to $5,050 levels could see Bitcoin hit reverse later in the day. A fall back through to $4,950 levels could bring $4,800 levels into play before any recovery. Barring a crypto meltdown, however, we would expect Bitcoin to steer well clear of the first major support level at $4,768.3.

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

Cardano Crypto Currency Market

Cardano’s ADA Price Resistance

It’s been a particularly bullish start to the week for Cardano’s ADA. Following last week’s 14.03% rally and the previous week’s 22.25% surge, it’s been 3 consecutive days in the green.

For the current week, Monday through Wednesday, Cardano’s ADA was up 28.8%. Tracking the broader market early on, Cardano’s ADA fell to a Tuesday low $0.063230 before making a move.

Steering clear of the week’s first major support level at $0.0605, Cardano’s ADA rallied to a current week high $0.101622.

The surge saw Cardano’s ADA break through the first major resistance level at $0.0782 and second major resistance level at $0.0853. The third major resistance level at $0.1030 pinned Cardano’s ADA back from more material gains in the week.

Having tracked the market through the early part of the week, Cardano’s ADA bucked the trend on Wednesday. While a number of the top 10 majors hit reverse, Cardano’s ADA managed to recover from a late slip to close out the day with a 5.6% gain.

In spite of 6 consecutive weeks in the green and the current week’s rally, the extended bearish trend remained intact. Cardano’s ADA continued to fall short of the 23.6% FIB Retracement Level of $0.1125, following 7th December’s new swing lo $0.02724.

It’s been a spectacular 2-months for Cardano’s ADA having moved into the top 10 by market cap. Cardano’s ADA has now leapfrogged Stellar’s Lumen and Tether into the number 8 spot.

At the time of writing, Cardano’s ADA was up by 2.67% to $0.09383. Moves through the early hours saw Cardano’s ADA recover from a morning low $0.087899 to a morning high $0.094796.

In spite of the pullback, Cardano’s ADA managed to hold above the second major resistance level at $0.0853.

ADA/USD 04/04/19 Weekly Chart

 

For the remainder of the week

A hold onto $0.090 levels through the middle of the week would support another run at $0.10 levels.

Support from the broader market would be needed, however, for Cardano’s ADA to break through the current week’s high $0.10162 to bring third major resistance level at $0.1030 back into play.

Barring another broad-based crypto rally, however, we would expect Cardano’s ADA to come up short of $0.10 levels.

Failure to hold onto $0.090 levels could see Cardano’s ADA hit reverse ahead of the weekend.

A fall back through the second major resistance level at $0.0853 could bring $0.070 levels back into play before any recovery. Barring a crypto meltdown, we would expect Cardano’s ADA to steer clear of sub-$0.08 levels, however. In the event of a broad-based sell-off, Cardano’s ADA could fall back through the first major resistance level at $0.0782 before any recovery.

A bounce back from a late slide to $0.084 levels on Wednesday will provide support in the coming days.

Looking at the Technical Indicators

Major Support Level: $0.0605

Major Resistance Level: $0.0782

23.6% FIB Retracement Level: $14.6

38.2% FIB Retracement Level: $12.6

62% FIB Retracement Level: $9.4

Do the Crypto Bulls Have the Staying Power? We’ve Been Here Before…

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

Bitcoin surged by 17.3% on Tuesday. Following a 0.7% rise on Monday, Bitcoin ended the day at $4,922.2.

Bullish from the start of the day, Bitcoin rallied from an intraday low $4,187.4 to a mid-morning intraday high $5,106.9.

Steering clear of the day’s major support levels, Bitcoin broke through the day’s major resistance levels and 23.6% FIB of $4,816. It was Bitcoin’s first visit to $5,000 levels since 20th November.

Key in the day was Bitcoin’s break through the all-important $4,500 level that was needed to draw in sidelined investors.

Elsewhere

Across the top 10 cryptos, Bitcoin Cash ABC stole the show on Tuesday, surging by a whopping 45.7%. The breakout led to a near-term bullish trend formation after hitting an intraday high $248.

Litecoin also found strong support, rallying by 28.4% on the day. Trailing the trailblazers, but not too far off, were EOS (19.5%), Cardano’s ADA (18.6%) and Ethereum (16.9%).

While bullish through the day, an early morning jump delivered the killing blow to the bears.

The total crypto market cap jumped from $159bn to a high $176.97bn on Tuesday before easing back.

Perhaps more impressively was the jump in volumes as investors jumped back onto the crypto bandwagon.

The 24-hour trading volumes had already risen to $48.5bn in the early hours of Tuesday. By late morning on Wednesday, volumes hit a day high $89.5bn…

What drove the rally across the majors on the day?

There were no major news events to drive Bitcoin back through to $5,000 levels. A positive end to the 1st quarter and some solid gains for the likes of Litecoin and Binance will have drawn investor attention.

April is a bullish month across the more traditional asset classes. The cryptomarket’s staying power will have impressed some of the doubters. As adoption continues to rise, albeit at a snail’s pace, and the SEC looks set to approve at least one of the Bitcoin ETFs, if not next month, sooner rather than later, there is optimism in the broader market.

It won’t be the first time that we’ve seen the bounce, however. Investors will be mindful of what happened in the last rally and any pullback could accelerate Bitcoin’s return to sub-$4,000 levels.

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This Morning

At the time of writing, Bitcoin was up by 1.6% to $5,001.1. Another bullish start to the day saw Bitcoin rally to a morning high $5,090.1 before easing back.

Coming up short of the first major resistance level at $5,290.2, Bitcoin slid back to a morning low $4,909.0 before moving back into positive territory.

The day’s major support levels were also left untested early on.

Across the top 10, Bitcoin Cash ABC continued to lead the way, up by 6.09% at the time of writing, closely followed by Litecoin, which was up by 5.5%.

BTC/USD 03/04/19 Daily Chart

For the day ahead

A hold above $4,900 levels through the day would continue to support a run at the first major resistance level at $5,290.2.

Support from the broader market later in the day could deliver a second breakout to $5,300 levels before any pullback.

Barring a broad-based crypto rally, however, we would expect Bitcoin to struggle to break through to $5,100 levels on the day.

Following some choppy moves last year, some profit taking could cap the upside on the day, should the broader market not experience another jump.

Failure to hold above $4,900 could see selling pressure build through the day. A fall through $4,750 levels would bring the first major support level at $4,370.7 into play before any recovery.

Trading volumes will need to be tracked through the day. Larger price swings are to be expected should trading volumes begin to ease back towards sub-$50bn levels.

We could be seeing $6,000 levels by the weekend should Bitcoin avoid a pullback mid-week…

Altcoins Weekly Analysis – ADA, BNB, and EOS – 31/03/19

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Cardano’s ADA

Cardano’s ADA rallied by 13.58% in the week ending 30th March. Following on from a 23% jump from the previous week, Cardano’s ADA ended the week at $0.073098.

A range-bound start to the week saw Cardano’s ADA ease to an intraweek low $0.05431 on Monday before making a move. Steering clear of the first major support level at $0.0541, Cardano’s ADA rallied to a Friday intraweek high $0.074524.

The week-long rally saw Cardano’s ADA break through the first major resistance level at $0.0703 before easing back. The week’s second major resistance level at $0.0763 capped the upside for the week.

A pullback to sub-$0.070 levels on Saturday was short-lived, with Cardano’s ADA recovering to $0.070 levels late in the day.

For the week ahead,

A hold onto $0.070 levels through the early part of the week would support further gains in the week ahead. A move back through last weeks high $0.074524 would bring the first major resistance level at $0.0793 into play. Support from the broader market would be needed, however, for Cardano’s ADA to hold onto $0.070 levels.

Barring a broad-based crypto rally, we would expect Cardano’s ADA to come up short of the second major resistance level at $0.0854.

Failure to hold onto $0.070 levels could see Cardano’s ADA give up some of the recent gains. A pullback through $0.068 levels would bring the first major support level at $0.0622 into play. Barring a broad-based sell-off, we would expect Cardano’s ADA to steer clear of sub-$0.06 support levels.

At the time of writing, Cardano’s ADA was up 0.38% to $0.073378.

ADA/USD 31/03/19 Weekly Chart

Binance

Binance rose by 12.11% in the week ending 30th March. Reversing a 5.71% slide from the previous week, Binance ended the week at $17.22.

A start of a week rally to an intraweek high and new swing hi $17.81 delivered the week’s gains. Rising from an intraday week low $14.77, Binance broke through the first major resistance level at $16.41. Coming up against the second major resistance level at $17.47, Binance eased back to $15 levels on Tuesday before recovering to $17 levels.

The bullish week saw Binance steer well clear of the major support levels.

For the week ahead,

A hold onto $17 levels through the early part of the week would support another solid week ahead. A break back through to $17.50 levels would bring $18 levels into play before any pullback. Support from the broader market would be needed, however, for Binance to take a run at the first major resistance level at $18.43. Barring a broad-based rally, we would expect last week’s $17.806 high to cap the upside in the week.

Failure to hold onto $17 levels could see Binance give up some of last week’s gains. A fall through $16.60 would bring $15 levels into play before any recovery. Barring a broad-based crypto sell-off, however, we would expect Binance to hold above the first major support level at $15.39.

At the time of writing, Binance was down 0.11% to $17.197.

BNB/USD 31/03/19 Weekly Chart

EOS

EOS rallied by 13.51% in the week ending 30th March. Reversing a 4.09% fall from the previous week, EOS ended the week at $4.2189.

Following a range bound start to the week that saw EOS dip to an intraweek low $3.6198, EOS rallied to an intraweek high $4.4718.

Steering clear of the major support levels on Monday, EOS broke through the week’s major resistance levels.

An early afternoon pullback on Saturday saw EOS fall back to $4.05 levels before breaking back through the second major resistance level at $4.0164. In spite of the solid gains, EOS was unable to break back through the third major resistance level at $4.3045.

For the week ahead,

A hold onto $4.10 levels through the early part of the week would support a move back through last week’s high $4.4718. A broad-based crypto rally would bring the first major resistance level at $4.5872 into play. Barring a crypto rally, we would expect EOS to come up short of $5.00 levels, however. The second major resistance level at $4.9555 will likely to pin EOS back.

Failure to hold onto $4.10 levels could see EOS ease back to sub-$4.00 levels before any recovery. Negative sentiment across the broader market would bring the first major support level at $3.7352 into play. Barring a crypto meltdown, however, we would expect EOS to steer clear of the second major support level at $3.2515.

At the time of writing, EOS was down 0.97% to $4.1779.

EOS/USD 31/03/19 Weekly Chart

Binance Coin Analysis – Resistance Levels in Play – 27/03/19

Crypto00 567

Binance Coin Price Resistance

It’s been a bearish start to the week for Binance Coin. Following last week’s 8.75% rally and new swing hi $17.806, it was 2-consecutive days in the red.

For the current week, Monday – Tuesday, Binance was down 5.65%. Pulling back from Sunday’s new swing hi, Binance fell from a start of a week high $17.59 to a Tuesday low $15.63.

Falling well short of the week’s first major resistance level at $18.70, Binance came within range of the first major support level at $15.07 before finding support. Recovering through the afternoon on Tuesday, Binance moved back through to $16 levels.

The near-term bullish trend, formed at early December’s swing lo $4.17, remained firmly intact. Binance continued to hold well above the 23.6% FIB Retracement Level of $14.6, following Sunday’s swing hi $17.806.

It’s been quite a start to the year for Binance, which has rallied by 158% year-to-date. Of particular significance is the fact that, out of the top-10 cryptos, Binance is the only coin that has managed to form a bullish trend.

At the time of writing, Binance was up 0.92% to $16.504. A choppy start to the day saw Binance slide to a morning low $16.03 before making a move.

Steering clear of the week’s first major support level at $15.07, Binance rallied to a morning high $16.75 before easing back. Binance also came up short of the week’s first major resistance level at $18.7 in the early hours.

BNB/USD 27/03/19 Weekly Chart

For the remainder of the week

A move back through last weeks high $17.806 would support a breakthrough to $18 levels in the week. Support from the broader market would be needed, however, for Binance to take a run at the first major resistance level at $18.70.

In the event of a broad-based crypto rally, Binance could break through to $19 levels before any pullback.

Failure to move back through to last weeks high $17.806 could see Binance slide further back in the week. Following 7-consecutive weeks in the green, a lack of momentum could see profit taking pin back any further gains.

A fall through $16.5 levels could bring $15 levels into play before any recovery. In the event of a broad-based crypto sell-off, we would expect Binance to test the first major support level at $15.07 before any recovery.

We would expect Binance to steer clear of sub-$15 support levels, however, in the event of a sell-off.

Looking at the Technical Indicators

 

Major Support Level: $15.07

Major Resistance Level: $18.70

23.6% FIB Retracement Level: $14.6

38.2% FIB Retracement Level: $12.6

62% FIB Retracement Level: $9.4