As Bitcoin and Ethereum have consistently remained choppy for the past few days, mixed trading patterns have been observed on certain altcoin moves. A large number of altcoins were in the process of price consolidation.
Ethereum Classic was trading near the support level of $ 67.36 while Binance Coin’s resistance was at $ 517.20. Solana lost momentum in the past 24 hours, falling 4.7%.
Ethereum Classic (ETC)
Ethereum Classic was in a state of consolidation last day. It traded at $ 68.60 after seeing a 0.6% decline. At the current level, ETC is a few notches below its weekly high. Immediate support was at $ 67.36 and a continued downward move would pull ETC to $ 58.09, the lowest Ethereum has traded in about a month.
Technical charts indicated a bear market. MACD noticed red bars in his histogram after a bearish crossover. Chaikin money flow was below the half-line for the first time this month, indicating a significant decline in capital inflows.
Great oscillator flashing red signal bars confirm the same. In the event that Ethereum Classic breaks upward consolidation, it could revisit $ 75.04.
In the latest news, Ethereum classic was affected by the Geth exploit from which Ethereum had suffered a week ago.
Solana is down 4.7% on its chart in the past 24 hours to trade at $ 139.30. The altcoin, which hit a new all-time high yesterday, moved closer to the support line of $ 125.95. A dip below $ 125.95 could result in SOL trading at $ 99.92, a level the altcoin last hit a week ago.
MACD red bars appear in its histograms. Great oscillator also noticed red signal bars indicating a bearish price movement in the market.
Relative Strength Indexbut was still bullish at 60. A rise in price could cause SOL to retest its immediate resistance of $ 144.54 then $ 158.40.
When Solana hit a new all-time high yesterday, it outperformed Dogecoin market cap to rank 7th on CoinGecko.
Binance Coin (BNB)
Binance Coin also saw area-bound price movement and rose slightly on its chart. The altcoin was trading at $ 491.99. His overhead resistance was $ 517.20. The Bollinger Bands remained constricted, suggesting a consolidated price move. The expected price range for BNB would be $ 491.99 and $ 460.42.
Green bars on the MACD Histogram has decreased in recent trading sessions. Relative strength was also nearing the half-line, although it was above the 50 mark at the time of writing.
In the event of a collapse in Binance Coin, its initial support level was at $ 460.42, which also marks its two-week low. If the NBB cannot hold the above price floor, it could aim for $ 433.54.