Mirroring the footsteps of Bitcoin and Ethereum over the last 24 hours, many altcoins also noted declines. Binance Coin, for instance, continued to consolidate on the chart and fell by 2.7% as it approached its one-week low. NEO too, after depreciating, moved close to trade near its one-week low of $49.45. Finally, DASH lost 4.4% of its value as the crypto’s momentum was in favor of its sellers.
Binance Coin [BNB]
Binance Coin saw lateral trading with a loss of 2.7% over the last 24 hours. The altcoin was priced at $420.7. The nearest support line for the coin stood at $386.8, which also marked its one-week low. Parameters for the altcoin flashed mixed trading signals.
The MACD pictured a red histogram after it met with a bearish crossover, indicating that the price could continue to move in a negative direction. The Relative Strength Index dipped and as seen near the half-line, it threatened to fall below the same as buying strength fell.
However, the Chaikin Money Flow stayed above zero, meaning that capital inflows were still positive.
If Binance Coin sees a price reversal, the first resistance level stood at $433.5. If BNB crosses the same, it could secure its one-week high price. Further price ceilings lay at $460.4 and at $517.
Recently, Binance reportedly announced that it would do away with its decentralized operation model and opt for a centralized one.
NEO declined by 3.7% over the last 24 hours while it continued to trade sideways. The altcoin was priced at $50.53 and its support level stood at $49.45. Falling below the $49.45-mark, the alt could trade near its one-week low of $44.09. The additional price floor rested at $40.70. The technical outlook suggested bearish price movements across the market.
On the four-hour trading chart, the price of NEO was seen below the 20-SMA line. This suggested that the momentum was with the sellers. In correspondence, the Relative Strength Index dipped below the half-line pointing towards a fall in buying strength. Awesome Oscillator highlighted red signal bars. MACD also underwent a bearish crossover and pictured red histograms.
On the flip side, NEO’s overhead resistance stood at $54.01. Toppling the $54.01-level, NEO could aim to record a one-week high if it trades around the $59.74 price level. Another resistance awaited the crypto at $65.86 which also is the multi-month high price for NEO.
DASH recorded a decline of 4.4% over the last 24 hours and was trading at $205.79. The nearest support line was at the token’s one-week low of $182.12. The altcoin was seen below the 20-SMA line on its four-hour chart, a reading that suggested that the coin’s momentum was in the favor of sellers in the market.
MACD underwent a bearish crossover and displayed the presence of a small red histogram. Relative Strength Index threatened to fall below its 50-mark – An indication that selling pressure was finding its way back to the market. Conversely, the Chaikin Money Flow was seen above the mid-line as capital inflows were still in the bullish territory.
If DASH records a revival in buying strength, it could push north to test the resistance at $234.84. Additional price resistance stood at $251.85 and at its multi-month high of $279.31.
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