As Bitcoin and Ethereum plummeted, many altcoins followed suit. Binance Coin, MATIC, and WAVES fell dramatically on their charts. Binance Coin, following its 17.1% drop, traded near its multi-week low at $ 386.83.
MATIC fell below its one-month support line of $ 1.38, after a 20% drop since yesterday. WAVES also traded below its one-week low of $ 27.05.
Binance Coin (BNB)
BNB fell 17.1% in the past 24 hours and was trading at $ 410.15, close to its multi-week low of $ 386.83. Technical indicators were bearish at the time of writing.
Relative Strength Index It moved below the oversold zone, despite the cryptocurrency trying to recover from the oversold condition. The indicator was at a multi-month low. MACD it showed red bars on its histogram.
Bollinger Bands largely diverged, an indication that prices could expect high volatility. If the buy force recovers, BNB may find immediate resistance at $ 433.54. Additional resistance levels settled at $ 460.42 and then at its multi-month high of $ 517.02.
MATIC tumbled a strong 20% in the last 24 hours and was valued at $ 1.30. It broke below its nearly month-long support region of $ 1.38. The next support level was at $ 1.08.
The asset was trading below its 50 4-hour SMA, signifying a strong trend. Other key technical indicators also pointed towards negative price action.
Relative Strength Index it was parked within the bearish zone, although the currency recovered slightly and moved above oversold territory. MACD it showed red bars on its histogram.
Chaikin money flow it also corresponded to the downward pressure, as it fell below the median line following a drop in capital inflows.
At the top, MATIC can push above the $ 1.38 high and then trade near the $ 1.53 price level. Breaking down the aforementioned resistance mark, it could revisit its multi-month high of $ 1.77.
WAVES noticed a decrease of more than 10% in the last 24 hours and was priced at $ 25.78. It broke below its $ 27.05 support level.
At the current price level, WAVES has been trading at a one-week low. Diving lower could mean that the altcoin is trading near its four-week low of $ 22.41. Its additional support level was based at $ 18.24.
The indicators remained bearish, as Relative Strength Index it was below the average line. Buying pressure remained considerably low. MACD flashing red bars in your histogram.
Awesome oscillator it was showing a series of red bars, but also a green signal bar, as the asset’s previous trading session was green. If prices move higher, the first resistance level for WAVES, will sit at $ 27.05 and then revisit the multi-month high of $ 30.77.
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