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BNB, ADA, ETH Record Losses As Market Swing Bearish

The crypto market is flocking with “spoils of war” accrued during the bear markets which began about a day ago. Around 90% of altcoins are seen recording losses which may take a while to recover from. The worst-hit in the last 24 hours is undoubtedly BNB which seemed to have lost around 8% since the last day.

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#1. Binance Coin (BNB 8% Loss):

BNB coin chart

BNB joins the calibre of top losers with roughly 8% loss within the last 24 hours.

BNB has a quite impressive market sentiment. Many market observers believe in the short term possibility of a bullish run. With around 89% market optimism, BNB radiates confidence and long term potential.

Technical Points

  • A major support is building at the $27.0 level
  • Next level of key resistance lies at $26.0
  • RSI swings into a horizontal pattern at the 50.0 level.

As of present, BNB is changing hands at $26.85 amid a market cap of around $4 billion.

Also Read : Crash or Rise – Binance Coin Price Prediction 2020

#2. Cardano (ADA 6% Loss):

Cardano trading chart

ADA rates second on this record with a 24-hour percentage loss around 6%.

Many traders acknowledge that this is the continuation of a price rally for ADA as over 80% of respondents are bullish on ADA.

The coin has lost around 98% since last year and lost around 27% within the last two weeks. Furthermore, the coin scores 34% loss within the last month and also gained 0.1% within the last hour.

ADA is now changing hands at $0.09 amid 24-hour trading volume that averages $658 million. 

Technical Indicator

  • ADA failed the support at $0.092
  • The next level of major support lies at $0.090
  • RSI is approaching the overbought condition and may cause a plunge soon.

Also Read : Cardano [ADA] Price Prediction: Will ADA Ever Reach $10?

#3. Ethereum (ETH 3% Loss):

BNB coin chart

Although Eth has been a bit slow, following the newest alt season narrative that has captured the markets with great excitement, Eth is seen to be having a hard time recently.

Within the last 24 hours, losing around 3% against its USD trading pair, the top cryptocurrency has waved towards the $365 corner. And more downfall seems to be expected by traders.

Market sentiments seem overly bullish as 96% of market respondents remain optimistic about Ethereum.

As of present, Ethereum is trading at $365 per unit of the coin with a market cap of $41 billion. Exchange volume has also risen within the same timeframe, this is valued around $13.8 billion.

Also Read : Will Ethereum Overcome the Recession in 2020?

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Dare Shonubi

Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.

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