December 1, 2020

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Technical Analysis: [ETH] -8.9% [BNB] -8.53% – Ethereum and Binance Coin in huge slump

2 min read
Technical Analysis: [ETH] -8.9% [BNB] -8.53% - Ethereum and Binance Coin in huge slump

Today we look at Ethereum and Binance Coin. The market has fallen massively today, so we will look for new levels of support.

 

[ETH / USD] In 2020 to present value: +77.13%

 

Total panic and massive downturns have been characteristic of the cryptocurrency market in recent days. Ethereum is currently at $ 215. We see ETH moving on the current level of support. If we break it, Ethereum could drop to around $ 200. From high of 289 USD Ethereum has already dropped to its current value by 25%. But it is still not as critical as the average of the top 100 coins by capitalization is a 38% loss.

 

Technical Analysis: [ETH] -8.9% [BNB] -8.53% - Ethereum and Binance Coin in huge slump

 

The slump on Ethereum is largely due to a slump on Bitcoin, which did not receive $ 9,500 support and subsequently $ 9,100. We are currently at $ 8,800. We experienced the biggest slump after dropping from high to $ 10,500 in 2020.

 

[BNB / USD] In 2020 to present value: + 37%

 

The Binance Coin today significantly reduced the profit it made in 2020. We lost it to 37%. We are currently in the support zone at $ 16.42 – $ 18.63, where the BNB could bounce. We were on top at $ 27 in 2020. We are currently at $ 18.63. Within the BNB Coin, we used to grow nicely last year, but so far we are lagging behind in 2020, and even growth cannot compare to the best.

 

Technical Analysis: [ETH] -8.9% [BNB] -8.53% - Ethereum and Binance Coin in huge slump

 

Of course everything is in the hands of Bitcoin and all eyes are on the BTC / USD pair. Like the rest of the Altcoins, the BNB can only watch and do nothing. It was frozen many expectations for the continuation of the bull-run. We did not keep several supports during the slump and this will be difficult to catch up.

 

 

Live charts

 

 

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