Altcoins Weekly Analysis – BNB, EOS and ETH – 30/06/19

Binance Coin

Binance Coin fell by 6.28% in the week ending 29th June. Partially reversing a 14.8% rally from the previous week, Binance Coin ended the week at $35.38.

A bearish start to the week saw Binance Coin fall from a Sunday high $40.89 to a Wednesday low $32.77 before finding support.

3-days in the red out of 4 saw Binance Coin fall through the 23.6% FIB of $34, whilst steering clear of the major support levels.

On a particularly choppy Wednesday, Binance Coin struck an intraweek high $42.91, while also falling to sub-$30 levels. Falling short of the first major resistance level at $43.48, Binance Coin slipped through the first major support level at $31.79.

In almost a repeat, Binance Coin returned to $42 levels on Thursday before falling to an intraweek low $27.03.

Binance Coin fell back through the 23.6% FIB and first major support level before finding support. Two consecutive days in the green at the end of the week led to a move back through the 23.6% FIB to $35 levels.

For the week ahead

A move back through to $35 levels would support a run at the first major resistance level at $43.18.

Binance Coin would need support from the broader market, however, to break through to $40 levels.

Barring a broad-based crypto rally, last week’s high $42.91 would likely pin Binance Coin back on the week.

Failure to move back through to $35 levels could see Binance Coin give up more ground in the week.

A fall through to $31 levels would bring the first major support level at $27.30 into play before any recovery.

Barring a broad-based crypto sell-off through the week, Binance Coin should steer clear of sub-$20 support levels.

At the time of writing, Binance Coin was down by 1.69% to $34.78.

EOS

EOS tumbled by 15.65% in the week ending 29th June. Reversing an 8.59% rally form the previous week, EOS ended the week at $6.3347.

Bearish through most of the week, EOS fell from a Sunday intraweek high $7.6435 to a Thursday intraweek low $5.5500.

Falling short of the major resistance…

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