All eyes on cryptocurrencies Bitcoin’s The price rose to $ 65,000 the other day while above and then fell again to $ 60,000, creating big question marks in the market. After this decline, it was seen that there were also pullbacks in the market’s volatile altcoins. So, let’s see together what is happening in these volatile altcoins Solana (SOL), Binance Coin (BNB) and XRP.
BNB Price Outlook
BNB’s It was reflected in the charts that it was traded in a wide price range of $ 460 to $ 635 over the last few months, which shows that investors bought in declines and sold in rallies. In the case of BNB, both moving average indicators were seen to be increasingly horizontal, while at the same time the RSI was seen to be near its neutral level. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
This situation can be interpreted as the movement in the mentioned price range may continue for a while. In the scenario where the price remains below the possible moving averages, it can be seen that the bears try to put pressure and push the BNB price to the support zone of $ 495 and $ 460.
Conversely, if the bulls can establish an upper hand, the price could first move towards $600 and then $635. The next trend reversal is likely to begin with a break above $635 or below $460.
Solana Comments
Solana’s It was also seen that it started to decline on August 27 and the price fell below the moving averages. This situation can be interpreted as sellers gaining strength day by day.
It can be seen that the bulls are trying to stop the downward price movement at the support area of $ 129 and $ 136 in the first stage. If the price can bounce off the support area, a sell-off at moving average levels is also possible.
If there is a decline in price and a return below $129, the next support level is thought to be in the $116 area. It is thought that the bulls will try to defend this level strongly to prevent a deeper decline.
In order for the bulls to regain strength, the price needs to rise above $164 and maintain this level. If this level is defended, the price could climb to $189.
XRP Coin Comment
Finally To XR6P When we look at the price, it seems that the price found buyers between $0.64 and $0.54 in the last few days, which can be interpreted as the bulls buying the dips.
It seems that the bulls are trying to push the price above the moving average levels with their purchases. If these levels can be broken, XRP could be seen testing the vital resistance level of $0.64 again. Breaking through the mentioned resistance level could indicate a new scenario where the price rises to $0.74.
Conversely, if the price level continues to move down from the 20-day EMA ($0.58), the bears may push the price below $0.54, with a possible drop to $0.46 in the ongoing process.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
