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.
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.
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.