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

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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

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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

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

Altcoins Weekly Analysis – EOS, IOT and XLM – 10/02/19

Cryptos

EOS

EOS rallied by 13.31% in the week ending 9th February. Following on from a 1.61% gain from the previous week, EOS ended the week at $2.814.

A relatively bearish first half of the week saw EOS fall to a Wednesday intraweek low $2.3163 before steadying.

Struggling to hold onto $2.4 levels mid-week, a broad-based crypto rally on Friday delivered the lion’s share of the weekly gain, with EOS rallying by 16.94% on the day.

Friday’s rally saw EOS break through the week’s first major resistance level at $2.5912 and second major resistance level at $2.6991.

Following on from Friday’s rally, EOS rose to an intraweek high $2.8782 on Saturday, before easing back.

For the week ahead, a hold onto $2.75 levels would provide support for further gains through the week.

A breakthrough last week’s high $2.8782 would bring $3.00 levels and the week’s first major resistance level at $3.0236 into play before any pullback.

Barring a broad-based crypto rally, we would expect EOS to be pinned back from a breakout from $3.00 levels. The the second major resistance level at $3.2332 will unlikely be tested in the week.

Failure to hold onto $2.75 levels could see EOS fall back through to $2.5 levels. A pullback would bring the week’s first major support level at $2.459 into play.

While we would expect EOS to steer clear of the second major support level at $2.104, a pullback to $2.3 levels and last week’s low $2.3136 could come into play should the market hit reverse.

At the time of writing, EOS was down 0.92% at $2.7880.

EOS/USD 10/02/19 Weekly Chart

IOTA

IOTA rose by 5.16% in the week ending 9th February. Reversing most of the previous week’s 6.08% loss, IOTA ended the week at $0.2812.

A relatively bearish first half of the week saw IOTA fall through the first major support level at $0.2464 to a Wednesday intraday week low $0.2403.

IOTA managed to recover to $0.25 levels by the end of Thursday before rallying to a Friday intraweek high $0.2901. IOTA broke through the first major resistance level at $0.2879 before easing back.

Recovering from a Saturday low $0.2751, IOTA managed to wrap up the week at $0.28 levels.

For the week ahead, a hold onto $0.28 levels through the early part of the week would support a run at $0.30 levels and the week’s first major resistance level at $0.3008.

We would expect IOTA to come up short of the second major resistance level at $0.3203. In the event of a broad-based crypto rally, $0.3100 levels could come into play.

Failure to hold onto $0.28 levels could see IOTA fall through to $0.26 levels before any recovery. Barring a broad-based crypto sell-off, we would expect IOTA to steer clear of $0.25 levels and the week’s first major support level at $0.2510.

At the time of writing, IOTA was up 1.79% to $0.2863.

IOT/USD 10/02/19 Weekly Chart

Stellar’s Lumen

Stellar’s Lumen fell by 3.29% in the week ending 9th February. Following on from the previous week’s 15.38% slide, Stellar’s Lumen ended the week at $0.081184.

It was a particularly bearish start to the week. Stellar’s Lumen fell on 4 consecutive days to an intraweek low and new swing lo $0.07336 before finding support.

The reversal saw Stellar’s Lumen slide through the first major support level at $0.0765, whilst avoiding sub-$0.07 support levels.

Following a relatively range-bound Thursday, Stellar’s Lumen found support from the broader market to strike a Friday intraweek high $0.084999. In spite of the Friday recovery, Stellar’s Lumen came up short of the week’s first major resistance level at $0.0964. Stellar’s Lumen was back in the red on Saturday.

For the week ahead, a hold onto $0.08 levels would bring the week’s first major resistance level at $0.0863 into play. Support from the broader market would be needed for Stellar’s Lumen to take a run at $0.09 levels and the second major resistance level at $0.0915.

Failure to hold onto $0.08 levels could see Stellar’s Lumen fall through the week’s first major support level at $0.0747 before any recovery. Barring a broad-based crypto sell-off, we would expect sub-$0.07 support levels to be left untested.

At the time of writing, Stellar’s Lumen was down 0.33% at $0.080916.

XLM/USD 10/02/19 Weekly Chart

Tron Coin Analysis – Support Levels Eyed – 06/02/19

altcoins

Tron Coin Price Support

 

It’s been another mixed start to the week for Tron. Following last week’s 12.71% sell-off, Tron managed to bounce back with a 5.51% rally on Monday, returning to $0.028 levels before hitting reverse.

Monday’s rally saw Tron move from a start of a week low $0.0254 to an early in the week high $0.029699. The rebound saw Tron break through the week’s first major resistance level at $0.02850 before the reversal.

A 2.12% fall on Tuesday left Tron with just a 3.3% gain going into this morning, with Tron joining the broader market following a buck trending rally on Monday.

Last week’s losses and moves through the early part of this week have seen Tron’s year-to-date gains cut to 38.5%

In spite of the solid gains since late November’s swing lo $0.0111, the extended bearish trend remains intact. Tron continues to fall well short of the 23.6% FIB Retracement Level of $0.0322 and, of greater significance, late April’s swing hi $1.0041

At the time of writing, Tron was down by 1.35% to $0.026235. Tracking the broader market through the early hours, Tron fell to a week low $0.02550 before recovering to $0.026 levels. In spite of the early sell-off, Tron managed to hold above the week’s first major support level at $0.0236.

TRX/USD 06/02/19 Weekly Chart

For the remainder of the week

 

A move through to $0.0265 levels would support another run at the week’s first major resistance level at $0.0285. Following last week’s high $0.0294, Tron will continue to face plenty of resistance on the way through to $0.030 levels to pin back a breakout from the week’s first major resistance level at $0.0285.

A material shift in sentiment across the broader market would be needed ahead of the weekend to give Tron a free run at $0.030 levels. We would expect Tron to continue to fall short of the 23.6% FIB Retracement Level of $0.0322, however, in the event of a 2nd half of the week rally.

Failure to move through to $0.0265 levels could see Tron give up more of the beginning of the week gains. A fall back through the current week’s low $0.02550 would bring the week’s first major support level at $0.0236 into play.

Sentiment from the broader market will have an impact going into the weekend. A continued reversal through the week could see Tron call on support at the second major support level at $0.0216 before any recovery. We would expect sub-$0.020 support levels to be left untested in the event of a crypto meltdown.

Following Tuesday’s pullback and this morning’s bearish moves, moving back through to $0.0265 levels will be key to avoiding a more material sell-off. Tron is up by 140% from November’s swing lo, so there’s plenty of incentive for investors to lock in gains should the current broad-based crypto sell-off persist through the week.

Looking at the Technical Indicators

 

Major Support Level: $0.0236

Major Resistance Level: $0.0285

Fib 23.6% Retracement Level: $0.0322

Fib 38% Retracement Level: $0.0452

Fib 62% Retracement Level: $0.0663

Altcoins Weekly Analysis – EOS, ETH and TRX – 03/02/19

crypto

EOS

EOS gained 1.61% in the week ending 2nd February. Partially reversing a 2.39% loss from the week before, EOS eneded the week at $2.4833.

A bearish start to the week saw EOS slide from a Sunday high $2.4737 to a Monday intraday week low $2.1830 before finding support. The pullback saw EOS fall through the first major support level at $2.3097 to come within range of the second major support level at $2.1743.

Recovering through the remainder of the week, EOS rallied to an end of week intraweek high $2.4950 before easing back. The first major resistance level at $2.5634 was left untested through the week.

For the week ahead, EOS will need to hold onto $2.4 levels to support a move through last week’s high $2.495, and to bring $2.5 levels and the week’s first major resistance level at $2.5912 into play. Following last week’s gain, support from the broader market would be needed for EOS to take a run at $2.6 levels. We would expect the week’s second major resistance level at $2.6991 to be left untested.

Failure to hold onto $2.4 levels could see EOS reverse last week’s gains. A fall through $2.38 levels and the first major support level at $2.2792 could see EOS call on support at the second major support level at $2.0751 before any recovery. Heavier losses would not be expected in the event of a sell-off.

At the time of writing, EOS was down 0.95% to $2.4596.

EOS/USD 03/02/19 Weekly Chart

Ethereum

Ethereum fell by 4.96% in the week ending 2nd February. Following on from a 6.65% slide in the previous week, Ethereum ended the week at $109.3.

Tracking the broader market, Ethereum slid from a start of a week intraweek high $115.45 to a Monday intraweek low $100.9 before recovering. While managing to avoid sub-$100 levels, a fall through the first major support level at $109 and second major support level at $103 left Ethereum with 3 consecutive days in the red.

Unable to break through to $116 levels, Ethereum fell well short of the week’s major resistance levels to leave the extended bearish trend firmly intact.

For the week ahead, Ethereum will need to move through to $109 levels to support a breakthrough to $110 levels. Barring a broad-based cryptomarket rally, we would expect Ethereum to come up short of the week’s first major resistance level at $116.20.  Last week’s high $115.45 will likely to pin Ethereum back.

Failure to move through to $109 levels could see Ethereum face the prospects of a 4th consecutive week in the red.

A pullback through $105 levels would likely see Ethereum call on support at the first major support level at $101.65. Heavier losses could be on the cards. A dip to sub-$100 levels is in play should a broad-based cryptomarket sell-off kick in. We would expect Ethereum to steer clear of the second major support level at $94.00.

At the time of writing, Ethereum was down 0.75% to $108.48.

ETH/USD 03/02/19 Weekly Chart

Tron’s TRX

Tron slid by 8.51% in the week ending 2nd February. Partially reversing the previous week’s 17.8% rally, Tron ended the week at $0.02651.

A bullish start to the week saw Tron rally to a Sunday intraweek high $0.03123 before hitting reverse. Tron came up against the first major resistance level at $0.03150. Tron fell short of the 23.6% FIB Retracement Level of $0.0322 to leave the extended bearish trend intact.

Bearish through the remainder of the week, Tron fell to a Friday intraweek low $0.0245 before recovery. The reversal saw Tron fall through the first major support level at $0.0252 before moving back through to $0.026 levels.

For the week ahead, Tron will need to move through to $0.0275 levels to take a run the first major resistance level at $0.03030. Tron will need support from the broader market to bring last week’s high $0.03123 into play. We will expect the 23.6% FIB Retracement Level of $0.0322 to be left untested.

Failure to move through to $0.02750 levels could see Tron take a bigger hit in the week. A fall through last week’s low $0.0245 would bring the first major support level at $0.0236 into play. Barring a broad-based cryptomarket rally, we would expect heavier losses and the second major support level at $0.02070 to be left untested in the week.

At the time of writing, Tron was down 1.04 % to $0.026232.

TRX/USD 03/02/19 Weekly Chart

Tron Coin Analysis – Looking for a Rebound – 30/01/19

Crypto

Tron Coin Price Support

It’s been a mixed start to the week for Tron. Following last week’s 22.97% rally, the bears took a bite out of the bulls on Monday. A broad-based crypto sell-off weighed on Tron, which slid by 7.21% before finding support on Tuesday to buck the broader market trend with a 1.06% rise.

A Monday low $0.025446 for the current week saw Tron hold above the week’s first major support level at $0.02490 before recovering to $0.028 levels. A start of a week high $0.02940 saw Tron come within range of $0.030 levels, whilst falling well short of the 23.6% FIB Retracement Level of $0.0322 and the week’s first major resistance level at $0.0326.

For the current week, Tron was down by 5.74%, Monday through Tuesday, with the losses coming from the Monday sell-off.

In spite a bullish start to the year, Tron up by 44% for the current month, the extended bearish trend, formed at an end of April swing hi $0.1004, remained intact following a late November swing lo $0.0111, with Tron continuing to fall short of the 23.6% FIB Retracement Level of $0.0322.

At the time of writing, Tron was up by 1.88% to $0.028185. Moves through the early morning saw Tron recover from a start of a day dip. Tron rose from a morning low $0.027183 to strike a morning high $0.028206 before easing back.

For the remainder of the week, holding onto $0.28 levels through the middle part of the week would support another run at $0.030 levels. We would expect Tron to face plenty of resistance on a run at $0.0290 levels. A breakthrough the start of the week high $0.0294 would be needed to drive momentum going into the weekend.

Barring a broad-based crypto rally, we would expect Tron to be pinned back by the 23.6% FIB and first major resistance level at $0.0326 in the event of a crypto rebound.

Failing to hold onto $0.028 levels could see Tron pullback ahead of the weekend. A fall through to $0.026 levels will likely bring the week’s low $0.02545 and the first major support level at $0.0249 into play before any recovery.

Barring a meltdown, we would expect Tron to steer clear of the week’s second major support level at $0.0205.  Tuesday’s trend-bucking move should give Tron some downside protection in the event of bearish moves elsewhere in the cryptomarket.

After Monday’s sell-off, it’s ultimately going to boil down to holding above key levels. Investors will likely jump ship and lock in solid gains since November’s swing lo, in the event that there’s a hint of another sell-off.

TRX/USD 30/01/19 Weekly Chart

Looking at the Technical Indicators

 

Major Support Level: $0.03260

Major Resistance Level: $0.02490

Fib 23.6% Retracement Level: $0.0322

Fib 38% Retracement Level: $0.0452

Fib 62% Retracement Level: $0.0663