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Binance Coin, Tezos, Dash Price Analysis: 17 December



Source: Pixabay

Bitcoin’s price managed to go past quite a few significant price levels in the past 24-hours and is now trading at $22,800. This bullishness translated well for many of the market’s altcoins, with the likes of Binance Coin, Dash, and Tezos all registering uptrends.

Binance Coin [BNB]

Source: BNB/USD, TradingView

Binance Coin currently occupies the 10th spot on CoinMarketCap’s list and after witnessing a 6.23 percent hike in the past 24-hours was trading at $31.2. BNB has also registered a market cap of $4.5 billion and a 24-hour trading volume of $481 million. According to the 1-hour chart, BNB has encountered significant resistance at $31.5 price level and if the price were to see a dip, it is likely to stabilize around the $30 price level.

Bollinger Bands for BNB continue to widen, indicating increased levels of volatility. MACD indicator looks promising after having undergone a bullish crossover.

Tezos [XTZ]

Source: XTZ/USD, TradingView

Tezos’ price has seen a 14 percent increase in the past week. At press time, the coin was being traded at $2.241 and wass moving in to breach resistance at $2.44. However, if the trend were to see a reversal, the coin may soon find itself heading toward the support at $2.31.

EMA ribbons have now settled below the coin’s current trading price and is likely to offer support. RSI looks bullish as it continues to remain within the overbought zone.

Dash [DASH]

Source: DASH/USD, TradingView

Akin to Tezos, Dash also saw a significant price rise in the past week. The coin is currently valued at $106.5 with a market cap of just over $1 billion. If the uptrend were to continue, Dash needs to overcome resistance at $108. However, if a trend reversal were to take place there are two strong supports at $102 and $97.

MACD indicator has just undergone a bearish crossover, indicating the likelihood of an upcoming price correction. RSI on the other hand continues to stay in the overbought zone.

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Jude Gerald Lopez is a full time News Editor at AMBCrypto covering the US and Indian market. He is a post-graduate in English literature with around 4 years of teaching experience in Indian literature.

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