Binance has continued the week as it started, steaming well above $20 and up 35% this week. BNB’s price breached at $19 against the US Dollar to kick the week off and on the weekly timeframe, Binance is looking extremely bullish and expecting to test clear resistance & ATH.
Dare I say BNB weekly candle looking to close above the all-time high at $26?
The volume on BNB would indicate this could well and truly breach resistance and the current sentiment around Twitter has everyone talking about BNB and Changpeng Zhao.
All of the positive news coming from Binance has a few people thinking if this could potentially be the next Ethereum?
Binance’s Twitter page announced that the BNB Chain mainnet has been launched and they will be executing their mainnet swap on April 23rd.
Perhaps the reason why many investors are filling their bags prior to the swap.
Bitcoin struggling to push past $5,350
Bitcoin started the week around the $5,000 level and has been building confluence between $4,900 and $5,350.
BTC seems to have found resistance at this region with numerous attempts by the bulls to drive price higher. If BTC can break key resistance the next price level to watch out for will be $5,545.
The weekly performance of Alt-Coins
Today a majority of Alt-coins have been in the red showing that they could be waiting on a move from Bitcoin before the rest follow. Ethereum began this week trading around $166 against the USD, seeing a 7% rise in price, but currently down 1.07% at $172.89.
XRP began this week trading around $0.32 before finding resistance at $0.34 before pulling back. The 18D MA is currently acting as support and I believe we could see further confluence in this area before retesting $0.36.
Litecoin has held well on $78 with multiple retests of this level acting as a firm support. LTC is currently down 1.21% trading at $81.89.
Cardano seems to have taken the biggest hit in the top 10 on Coinmarketcap, down 4.33% at $0.078. Since rejecting $0.09 ADA has failed to keep up the momentum and rejecting the counter trend-line. The next level of support can be found at $0.073, which currently the 200D EMA is positioned.