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.
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