Bitcoin pairs continue to fall, Binance Coin, TRON, and NEO due for further decline?

This technical analysis will explore if Binance Coin, TRON, and NEO are due for a further decline.

Since late December 2018, Binance Coin has been trading above the 7-week moving average invalidating all the sell signals given by the TD Sequential Indicator in the 1-week chart.

Due to the strong support that the 7-week moving average poses, a break below it could confirm that a retrace is underway that could take BNB to test the 30 or 50-week moving average.

The bearish signal will be invalidated if the 7-week moving average continues to hold and Binance Coin manages to move above the recent high of $39.6.

Adding to the bearishness, the moving average convergence divergence, which is commonly used to follow the path of a trend and calculate its momentum, had a bearish cross between the 12-three-day exponential moving average and the 26-three-day exponential moving average indicating that a correction is likely to come.

Since the price movement seen last week took TRON to the top of the range at $0.038, a move down to the bottom at $0.029 was expected and that seems to be exactly what this cryptocurrency is doing at the moment.

A move below $0.031 will confirm the pullback to the 50-three day moving average that is sitting around $0.029.

If TRON gets back above the 7-three-day moving average it could be a sign that it will break the $0.038 resistance level and try to test the next hurdle point at $0.049.NEO. A series of support and resistance levels based on historical data can be drawn on NEO's 1-week chart to help determine the different price points that will act as barriers, preventing its price from getting pushed up or down.

Since NEO is currently trading below the 7-day moving average a further drop to the 30 or 50-day moving average could be possible, which is exactly where the $13 support level sits at.

The only way to consider that the bullish trend will continue is if NEO moves above the 7-day moving average and the following candlestick opens above it.