The Crypto Daily – Movers and Shakers – September 14th, 2021

E-coins on tablet computer with charts on screen

Bitcoin, BTC to USD, fell by 2.34% on Monday. Reversing a 1.92% gain from Sunday, Bitcoin ended the day at $45,960.0.

Recovering from a bearish morning, Bitcoin rallied to an early afternoon intraday high $46,874.0 before hitting reverse.

Bitcoin broke through the first major resistance level at $46,745 before sliding to a mid-afternoon intraday low $43,444.0.

The sell-off saw Bitcoin fall through the first major support level at $45,053 and the second major support level at $44,068.

Steering clear of sub-$43,000 levels, however, Bitcoin broke back through the second major support levels to end the day at $44,900 levels.

Late in the day, the first major support level at $45,053 pinned Bitcoin back.

The near-term bullish trend remained intact, in spite of the latest return to $43,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bearish day on Monday.

Chainlink slid by 8.45% to lead the way down, with Cardano’s ADA (-6.92%) and Crypto.com Coin (-6.24%) close behind.

Binance Coin (-4.12%), Bitcoin Cash SV (-3.01%), Ethereum (-3.46%), and Ripple’s XRP (-4.95%) also struggled.

Litecoin (-1.99%) and Polkadot (-0.27%) saw relatively modest losses on the day, however.

Early in the week, the crypto total market rose to a Monday high $2,143bn before tumbling to a Monday low $1,976bn. At the time of writing, the total market cap stood at $2,066bn.

Bitcoin’s dominance fell to a Monday low 40.62% before rising to a high 41.52%. At the time of writing, Bitcoin’s dominance stood at 41.04%.

This Morning

At the time of writing, Bitcoin was up by 0.25% to $45,071.0. A mixed start to the day saw Bitcoin fall to an early morning low $44,847.0 before rising to a high $45,291.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Binance Coin (-0.02%) and Bitcoin Cash SV (-0.74%) saw red early on.

It was a bullish start for the rest of the majors, however.

At the time of writing, Crypto.com Coin was up by 2.08% to lead the way.

BTCUSD 140921 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through the $45,093 pivot to bring the first major resistance level at $46,741 into play.

Support from the broader market would be needed for Bitcoin to break out from $46,500 levels.

Barring a broad-based crypto rally, the first major resistance level and Monday’s high $46,874.0 would likely cap the upside.

In the event of a broad-based crypto rally, Bitcoin could test resistance at $50,000 before any pullback. The second major resistance level sits at $48,523.

Failure to move through the $45,093 pivot would bring the first major support level at $43,311 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$41,000 levels. The second major support level at $41,663 and the 38.2% FIB of $41,529 should limit the downside.

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 12/09/21

Depositphotos_192431198_s-2019 (1)

Binance Coin

Binance Coin slumped by 18.68% in the week ending 11th September. Reversing a 2.32% gain in the previous week, Binance Coin ended the week at $404.95.

Early in the week, Binance Coin rallied to a Sunday intraweek high $543.90 before hitting reverse.

Binance Coin broke through the first major resistance level at $527 and the 23.6% FIB of $540.

The reversal saw Binance Coin slide to a Tuesday intraweek low $358.50.

Binance Coin fell through the first major support level at $460 and the second major support level at $422.

More significantly, Binance Coin fell back through the 38.2% FIB of $438 to end the week at sub-$410 levels.

4 days in the red that included a 15.66% tumble on Tuesday delivered the downside for the week.

For the week ahead

Binance Coin would need to move through the $436 pivot and the 23.6% FIB of $540 to bring the first major resistance level at $513 into play.

Support from the broader market would be needed, however, for Binance Coin to break back through to $500 levels.

Barring an extended rally, the first major resistance level and resistance at the 23.6% FIB of $540 would likely limit any upside.

In the event of a broad-based crypto rally, Binance Coin could test resistance at $600 before any pullback. The second major resistance level sits at $621.

Failure to move through the $436 pivot and the 23.6% FIB would bring the first major support level at $328 into play.

Barring an extended sell-off, however, Binance Coin should steer clear of sub-$300 and the 62% FIB of $273. The second major support level sits at $250.

At the time of writing, Binance Coin was down by 1.23% to $399.98. A mixed start to the week saw Binance Coin rise to an early Sunday high $406.18 before falling to a low $398.84.

Binance Coin left the major support and resistance levels untested at the start of the week.

BNBUSD 120921 Daily Chart

Litecoin

Litecoin slid by 15.84% in the week ending 11th September. Partially reversing a 20.67% gain from the previous week, Litecoin ended the week at $178.56.

A bullish start to the week saw Litecoin rise to a Sunday intraweek high $232.64 before hitting reverse

While falling short of the first major resistance level at $236, Litecoin tested resistance at the 38.2% FIB of $223.

The reversal saw Litecoin slide to a Tuesday intraweek low $161.00.

Litecoin fell back through the 38.2% FIB and through the 23.6% FIB of $178 and the first major support level at $177.

Finding support at the end of the week, however, Litecoin broke back through the first major support level and the 23.6% FIB to end the week at $178 levels.

3 days in the red that included an 18.73% tumble on Tuesday delivered the downside for the week.

For the week ahead

Litecoin would need to move through the 23.6% FIB and the $191 pivot to bring the first major resistance level at $221 and the 38.2% FIB of $223 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $200 levels.

Barring an extended crypto rally, the first major resistance level and the 38.2% FIB would likely limit any upside.

In the event of another broad-based crypto rally, Litecoin could test resistance at $250 before any pullback. The second major resistance level sits at $262.

Failure to move through the 23.6% FIB and the $191 pivot would bring the first major support level at $149 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$150 levels. The second major support level sits at $119.

At the time of writing, Litecoin was down by 1.53% to $175.83. A mixed start to the week saw Litecoin rise to an early Sunday high $179.33 before falling to a low $175.25.

While leaving the major support and resistance levels untested, Litecoin fell through the 23.6% FIB of $178.

LTCUSD 120921 Daily Chart

Tron’s TRX

Tron’s TRX fell by 6.48% in the week ending 11th September. Partially reversing a 15.06% rally from the previous week, Tron’s TRX ended the week at $0.09530.

A mixed start to the week saw Tron’s TRX rise to a Monday intraweek high $0.1093 before hitting reverse.

While falling short of the first major resistance level at $0.1126, Tron’s TRX broke through the 38.2% FIB of $0.09890.

The reversal saw Tron’s TRX slide to a Tuesday intraweek low $0.07452.

Tron’s TRX fell through the 38.2% FIB and the first major support level at $0.08777.

Of greater significance was a fall through the 23.6% FIB of $0.07870 before finding support.

Through the 2nd half of the week, Tron’s TRX broke back through the 23.6% FIB and the major support levels to end the week at $0.095 levels.

3 days in the red that included a 17.37% slump on Tuesday delivered the downside.

For the week ahead

Tron’s TRX would need to avoid the $0.09304 pivot to support a run at the first major resistance level at $0.1116.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the 38.2% FIB of $0.09890.

Barring a broad-based crypto rally, first major resistance level and last week’s high $0.1093 would likely cap any upside.

In the event of an extended rally, Tron’s TRX could test resistance at the 62% FIB of $0.1316. The second major resistance level sits at $0.1278.

A fall through the $0.09304 pivot would bring the 23.6% FIB of $0.07870 and the first major support level at $0.07678 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of sub-$0.070 levels. The second major support level sits at $0.05826.

At the time of writing, Tron’s TRX was down by 1.21% to $0.09414. A mixed start to the week saw Tron’s TRX rise to an early Sunday morning high $0.09693 before falling to a low $0.09408.

Tron’s TRX left the support and resistance levels untested early on.

TRXUSD 120921 Daily Chart

The Crypto Daily – Movers and Shakers – September 9th, 2021

Pattern of coins LTC, ETH, BTC, XMR, XRP on a dark background. Business concept.

Bitcoin, BTC to USD, fell by 1.67% on Wednesday. Following an 11.06% slide on Tuesday, Bitcoin ended the day at $46,070.6.

A mixed start to the day saw Bitcoin rise to an early morning intraday high $47,351.0 before hitting reverse.

Falling short of the 23.6% FIB of $50,473 and the first major resistance level at $52,085, Bitcoin fell to a late morning intraday low $44,472.0.

Steering clear of the first major support level at $42,417, however, Bitcoin found late support to end the day at $46,000 levels.

The near-term bullish trend remained intact, in spite of the latest return to $43,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Wednesday

Chainlink fell by 3.87% to lead the way down.

Binance Coin (-0.88%), Bitcoin Cash SV (-0.80%), Cardano’s ADA (-1.74%), Crypto.com Coin (-0.05%), and Ripple’s XRP (-2.62%) also joined Bitcoin in the red.

It was a relatively bullish day for the rest of the majors, however.

Ethereum led the way with a 1.85% gain.

Litecoin (+0.65%) and Polkadot (+1.23%) also found strong support.

In the current week, the crypto total market rose to a Tuesday high $2,392bn before tumbling to a Tuesday low $1,809bn. At the time of writing, the total market cap stood at $2,115bn.

Bitcoin’s dominance rose to a Tuesday high 44.15% before falling to a Wednesday low 40.80%. At the time of writing, Bitcoin’s dominance stood at 40.97%.

This Morning

At the time of writing, Bitcoin was up by 0.05% to $46,093.0. A mixed start to the day saw Bitcoin fall to an early morning low $46,006.3 before rising to a high $46,160.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Chainlink (+0.84%), Cyrpto.com Coin (+1.14%), Litecoin (+0.22%), and Ripple’s XRP (+0.63%) found early support.

It was a bearish start for the rest of the majors, however.

At the time of writing, Polkadot was down by 0.22% to lead the way down.

BTCUSD 090921 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $45,965 pivot to bring the first major resistance level at $47,457 into play.

Support from the broader market would be needed for Bitcoin to break out from Wednesday’s high $47,351.0.

Barring a broad-based crypto rally, the first major resistance level and resistance at $48,000 would likely cap the upside.

In the event of a broad-based crypto rebound, Bitcoin could test resistance at the 23.6% FIB of $50,473 before any pullback. The second major resistance level sits at $48,844.

A fall through the $45,965 pivot would bring the first major support level at $44,578 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of the 38.2% FIB of $41,592. The second major support level at $43,086 should limit the downside.

Binance Coin Mid-Week Analysis – Support Levels in Play – 08/09/21

Depositphotos_179061572_s-2019

Binance Coin Price Support

It’s been yet another choppy 1st half of the week for Binance Coin.

A bullish start to the week saw Binance Coin rally to a Sunday high $543.90 before hitting reverse.

Binance Coin broke through the first major resistance level at $527 and the 23.6% FIB of $540.

The reversal, however, saw Binance Coin slide to a Tuesday current week low $358.50.

Binance Coin fell through the first major support level at $460 and the second major support level at $422.

The extended sell-off also saw Binance Coin fall through the 38.2% FIB of $438 before a partial recovery to $400 levels.

For the current week, Sunday through Tuesday, Binance Coin was down by 15.93% to $418.62. Two days in the red from three that included a 15.66% tumble on Tuesday did the damage.

The near-term bullish trend remained intact in spite of the return to sub-$400 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 1,018% year-to-date.

At the time of writing, Binance Coin was down by 0.43% to $416.84. A mixed start to the day on Wednesday saw Binance Coin fall to an early morning low $411.70 before rising to a high $421.03.

Binance Coin left the major support and resistance levels untested early Wednesday.

BNBUSD 080921 Daily Chart

For the remainder of the week

Binance Coin would need to move back through the major support levels and the $489 pivot to bring the first major resistance level at $527 back into play.

Support from the broader market would be needed, however, for Binance Coin to break back through to $500 levels.

Barring an extended rally going into the weekend, the first major resistance level and 23.6% FIB of $540 would likely cap any upside.

In the event of a broad-based crypto rebound, however, Binance Coin could test resistance at $600 before any pullback. The second major resistance level sits at $556.

Failure to move back through the major support levels and the $489 pivot would bring the third major support level at $355 back into play.

Barring an extended sell-off, however, Binance Coin should steer clear of sub-$300 support levels.

Looking at the Technical Indicators

First Major Support Level: $460

Pivot Level: $489

First Major Resistance Level: $527

23.6% FIB Retracement Level: $540

38.2% FIB Retracement Level: $438

62% FIB Retracement Level: $273

The Crypto Daily – Movers and Shakers – September 7th, 2021

E-coins on tablet computer with charts on screen

Bitcoin, BTC to USD, rose by 1.73% on Monday. Following a 3.77% rally on Sunday, Bitcoin ended the day at $52,676.0.

After mixed start to the day, Bitcoin fell to a mid-day intraday low $51,050.0 before making a move.

Steering clear of the first major support level at $50,200, Bitcoin rallied to a late intraday high $52,742.0.

Bitcoin broke through the first major resistance level at $52,630 to end the day at $52,670 levels.

The near-term bullish trend remained intact, supported by the latest return to $52,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Monday

Crypto.com Coin and Ripple’s XRP rallied by 9.26% and by 6.18% respectively to lead the way.

Bitcoin Cash SV (+0.58%) and Chainlink (+3.55%) also found strong support.

It was a bearish day for the rest of the majors, however.

Litecoin slid by 5.52% to lead the way down.

Binance Coin (-1.71%), Cardano’s ADA (-2.68%), Ethereum (-0.58%), and Polkadot (-1.97%) also saw red.

Early in the week, the crypto total market fell to a Monday low $2,307bn before rising to a Monday high $2,387bn. At the time of writing, the total market cap stood at $2,379bn.

Bitcoin’s dominance fell to a Monday low 41.09% befor rising to an early Tuesday high 41.72%. At the time of writing, Bitcoin’s dominance stood at 41.67%.

This Morning

At the time of writing, Bitcoin was down by 0.02% to $52,663.0. A mixed start to the day saw Bitcoin fall to an early morning low $52,573.0 before rising to a high $52,749.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Crypto.com Coin was up by 2.78% early on. Binance Coin (+0.24%), Bitcoin Cash SV (+0.30%), and Cardano’s ADA (+0.34%) also found early support.

It was a bearish start for the rest of the majors, however.

At the time of writing, Ripple’s XRP was down by 1.17% to lead the way down.

BTCUSD 070921 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $52,156 pivot to bring the first major resistance level at $53,262 into play.

Support from the broader market would be needed for Bitcoin to break back through $53,000 levels.

Barring a broad-based crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $55,000 before any pullback. The second major resistance level sits at $53,848.

A fall through the $52,156 pivot would bring the first major support level at $51,570 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of the 23.6% FIB of $50,473 and the second major support level at $50,464.

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 05/09/21

Kiev, Ukraine, March, 13, 2018: Coins of different crypto-currencies with dollars

Binance Coin

Binance Coin rose by 2.32% in the week ending 4th September. Following an 8.28% gain in the previous week, Binance Coin ended the week at $497.81.

Early in the week, Binance Coin fell to a Tuesday intraweek low $451.55 before making a move.

Steering clear of the first major support level at $441 and the 38.2% FIB of $438, Binance Coin rallied to a Thursday intraweek high $518.63.

Falling short of the first major resistance level at $526, Binance Coin fell back to sub-$470 before finding support.

A bullish end to the week saw Binance Coin test resistance at $500 before easing back.

4 days in the green that included a 5.5% rally on Wednesday delivered the upside for the week.

For the week ahead

Binance Coin would need to avoid the $489 pivot to bring the first major resistance level at $527 into play.

Support from the broader market would be needed, however, for Binance Coin to break out from last week’s high $518.63.

Barring an extended rally, the first major resistance level and resistance at the 23.6% FIB of $540 would likely limit any upside.

In the event of a broad-based crypto rally, Binance Coin could test resistance at $600 before any pullback. The second major resistance level sits at $556.

A fall through the $489 pivot would bring the first major support level at $460 into play.

Barring an extended sell-off, however, Binance Coin should steer clear of the second major support level at $422. The 38.2% FIB of $438 should limit the downside.

At the time of writing, Binance Coin was up by 0.49% to $500.23. A mixed start to the week saw Binance Coin fall to an early Sunday low $493.35 before rising to a high $501.26.

Binance Coin left the major support and resistance levels untested at the start of the week.

BNBUSD 050921 Daily Chart

Litecoin

Litecoin rallied by 20.67% in the week ending 4th September. Reversing a 2.21% decline from the previous week, Litecoin ended the week at $212.12.

A bearish start to the week saw Litecoin fall to a Tuesday intraweek low $165.67 before making a move.

Coming within range of the first major support level at $163, Litecoin surged to a Saturday intraweek high $225.25.

Litecoin broke through the first major resistance level at $190 and the second major resistance level at $204.

More significantly, Litecoin also broke through the 23.6% FIB of $178 and through the 38.2% FIB of $223 before ending the week at sub-$220.

4 days in the green that included a 16.30% surge on Friday delivered the upside for the week.

For the week ahead

Litecoin would need to avoid the $201 pivot to bring the 38.2% FIB of $223 and the first major resistance level at $236 into play.

Support from the broader market would be needed, however, for Litecoin to break through to $230 levels.

Barring an extended crypto rally, the first major resistance level would likely limit any upside.

In the event of another broad-based crypto rally, Litecoin could test resistance at $270 before any pullback. The second major resistance level sits at $261.

A fall through the $201 pivot would bring the 23.6% FIB of $178 and the first major support level at $177 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$170 levels. The second major support level sits at $141.

At the time of writing, Litecoin was up by 2.26% to $216.91. A mixed start to the week saw Litecoin fall to an early Sunday morning low $210.57 before rising to a high $218.07.

Litecoin left the major support and resistance levels untested early on.

LTCUSD 050921 Daily Chart

Tron’s TRX

Tron’s TRX rallied by 15.06% in the week ending 4th September. Following a modest 0.10% gain from the previous week, Tron’s TRX ended the week at $0.1019.

A mixed start to the week saw Tron’s TRX fall to a Monday intraweek low $0.08436 before making a move.

Steering clear of the first major support level at $0.08239, Tron’s TRX rallied to a Friday intraweek high $0.1092.

Tron’s TRX broke through the week’s major resistance levels and through the 38.2% FIB of $0.9890 to end the week at $1.0 levels.

5 days in the green that included a 6.94% rally on Wednesday and a 5.04% gain on Thursday delivered the upside.

For the week ahead

Tron’s TRX would need to avoid the 38.2% FIB of $0.09890 and the $0.09849 pivot to support a run at the first major resistance level at $0.1126.

Support from the broader market would be needed, however, for Tron’s TRX to break out from last week’s high $0.1092.

Barring a broad-based crypto rally, first major resistance level would likely cap any upside.

In the event of an extended rally, Tron’s TRX could test resistance at the 62% FIB of $0.1316. The second major resistance level sits at $0.1233.

A fall through the 38.2% FIB and the $0.09849 pivot would bring the first major support level at $0.08777 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of the 23.6% FIB of $0.07870. The second major support level sits at $0.07365.

At the time of writing, Tron’s TRX was up by 0.43% to $0.1023. A mixed start to the week saw Tron’s TRX fall to an early Sunday low $0.1011 before rising to a high $0.1040.

Tron’s TRX left the support and resistance levels untested early on.

TRXUSD 050921 Daily Chart

The Crypto Daily – Movers and Shakers – September 2nd, 2021

Crypto00 567

Bitcoin, BTC to USD, rose by 3.57% on Wednesday. Following a 0.33% gain on Tuesday, Bitcoin ended the day at $48,823.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $46,590.0 before making a move.

Steering clear of the first major support level at $46,507, Bitcoin rallied to a late afternoon intraday high $49,139.0.

Bitcoin broke through the first major resistance level at $48,026 and the second major resistance level at $48,894 before easing back to sub-$48,100 levels.

A bullish end to the day saw Bitcoin briefly break back through the second major resistance level before easing back.

The near-term bullish trend remained intact, supported by the latest return to $50,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish day on Wednesday

Chainlink and Ethereum rallied by 11.27% and by 11.64% to lead the way.

Binance Coin (+5.55%), Litecoin (+5.40%), and Ripple’s XRP (+4.33%) also found strong support.

Bitcoin Cash SV (+3.32%), Cardano’s ADA (+3.67%), Crypto.com Coin (+0.79%), and Polkadot (+2.13%) trailed the front runners, however.

In the current the week, the crypto total market fell to a Monday low $1,996bn before rising to a Wednesday high $2,230bn. At the time of writing, the total market cap stood at $2,192bn.

Bitcoin’s dominance rose to a Monday high 44.14% before falling to a Wednesday low 41.40%. At the time of writing, Bitcoin’s dominance stood at 41.84%.

This Morning

At the time of writing, Bitcoin was down by 0.08% to $48,782.0. A mixed start to the day saw Bitcoin fall to an early morning low $48,631.0 before rising to a high $49,000.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Binance Coin (+1.03%), Bitcoin Cash SV (+0.12%), and Crypto.com Coin (+4.21%) found early support.

It was a bearish start for the rest of the majors, however.

At the time of writing, Polkadot was down by 1.52% to lead the way down.

BTCUSD 020921 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $48,184 pivot to bring the first major resistance level at $49,778 into play.

Support from the broader market would be needed for Bitcoin to break out from $49,500 levels.

Barring a broad-based crypto rally, the first major resistance level and resistance at $50,000 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at the 23.6% FIB of $50,473 before any pullback. The second major resistance level sits at $50,733.

A fall through the $48,184 pivot would bring the first major support level at $47,229 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$46,000 levels. The second major support level sits at $45,635.

Binance Coin Mid-Week Analysis – Support Levels in Play – 01/09/21

Pattern of coins LTC, ETH, BTC, XMR, XRP on a dark background. Business concept.

Binance Coin Price Support

It’s been a choppy 1st half of the week for Binance Coin.

A bullish start to the week saw Binance Coin rise to a Sunday high $500.57 before hitting reverse.

Falling short of the first major resistance level at $526, Binance Coin slid to a Tuesday current week low $451.55.

Steering clear of the first major support level at $441 and the 38.2% FIB of $438, Binance Coin briefly revisited $480 levels before easing back.

For the current week, Sunday through Tuesday, Binance Coin was down by 4.58% to $464.24. Two days in the red from three that included a 4.18% slide on Monday did the damage.

The near-term bullish trend remained intact supported by the return to $500 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 1,139% year-to-date.

At the time of writing, Binance Coin was down by 1.50% to $457.28. A mixed start to the day on Wednesday saw Binance Coin rise to an early morning high $466.69 before falling to a low $455.06.

Binance Coin left the major support and resistance levels untested early Wednesday.

BNBUSD 010921 Daily Chart

For the remainder of the week

Binance Coin would need to move back through the $481 pivot to bring the first major resistance level at $526 back into play.

Support from the broader market would be needed, however, for Binance Coin to break out from the current week high $500.57.

Barring an extended rally going into the weekend, the first major resistance level and 23.6% FIB of $540 would likely cap any upside.

In the event of an extended breakout, however, Binance Coin could test resistance at $600 before any pullback. The second major resistance level sits at $566.

Failure to move back through the $481 pivot would bring the first major support level at $441 and the 38.2% FIB of $438 back into play.

Barring an extended sell-off, however, Binance Coin should steer clear of sub-$400 support levels. The second major support level sits at $396.

Looking at the Technical Indicators

First Major Support Level: $441

Pivot Level: $481

First Major Resistance Level: $526

23.6% FIB Retracement Level: $540

38.2% FIB Retracement Level: $438

62% FIB Retracement Level: $273