Binance Coin Price Resistance
It’s been a choppy 1st half of the week for Binance Coin.
Early in the week, Binance Coin slid to a Monday current week low $327.22 before making a move.
Steering clear of the first major support level at $321, Binance Coin rallied to a Tuesday current week high $384.58.
Binance Coin broke through the first major resistance level at $379 before falling back to $372 levels.
For the current week, Sunday through Tuesday, Binance Coin was up by 4.34% to $372.14. A 3.61% rise on Monday and a 4.96% rally on Tuesday delivered the upside for the current week.
The near-term bullish trend remained intact in spite of the recent return to sub-$300 levels. For the bears, a sustained fall through the 62% FIB of $272 would form a near-term bearish trend.
It has been a bullish year-to-date, however, with Binance Coin up by 893% year-to-date.
At the time of writing, Binance Coin was up by 1.45% to $377.55. A mixed start to the day on Wednesday saw Binance Coin fall to an early low $370.47 before rising to a high $380.90.
Binance Coin retested the first major resistance level at $379 once more before easing back.
For the remainder of the week
Binance Coin would need to avoid a fall back through the $343 pivot to bring the second major resistance level at $401 into play.
Support from the broader market would be needed, however, for Binance Coin to break out from the first major resistance level at $379.
Barring an extended rally going into the weekend, the second major resistance level at $401 would likely cap any upside.
In the event of an extended breakout, however, Binance Coin could test resistance at the 38.2% FIB of $438 before any pullback. The third major resistance level sits at $459.
A fall back through the $343 pivot would bring first major support level at $321 back into play. Barring an extended sell-off, however, Binance Coin should steer clear of sub-$300 levels.
The second major support level sits at $285
Looking at the Technical Indicators
First Major Support Level: $321
Pivot Level: $343
First Major Resistance Level: $379
23.6% FIB Retracement Level: $540
38.2% FIB Retracement Level: $438
62% FIB Retracement Level: $273