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.

#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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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Dare Shonubi

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

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