NewsPrice Analysis

Top Altcoins Losing Value: VET 7.8%, ZEC 6.9%, BNB 5.2%

The week has been very brutal in the crypto ecosystem. Market sentiments swung entirely bearish with BTC taking the lead. 

Other coins like VET, however, are not lagging in terms of daily loss. With a  24% daily loss, VET takes top position with runners up being ZEC and BNB.

#1. VeChain (VET 7.8%):

VET comes first on this list. Appearing on our list for the second time in a few days, the top crypto made a considerable 7.8% loss in the past 24 hours.

VET market emotions swings bearish with 50% market negatively responding. As a result, there is much possibility of a bearish trend in the short term.

In the one-year timeframe, VET gained around 205% but accrues losses in all other time frames including the last 30 days.

VET is presently trading at $0.010 amid a market capitalization of $659 million.

Technical Points

  • Next Key resistance level at $0.0128
  • Next Key Support level at $0.0095
  • RSI fibs at 30.0 oversold.

Also Read : VeChain Price Prediction 2020 – Will The VET Price Gear Up?

#2. Zcash (ZEC 6.9% Loss):

For the first time this week, Zcash makes our list of top losers. The top cryptocurrency is second on this list have lost around 6.9% within the last 24 hours. 

The coin’s market position is quite positive with 70% of traders being bullish on ZEC. 

Within the last year, ZEC gains 74% but lost 34% in the last two months. The coin is currently trading at $61.87 with market cap stabilizing at $630 million. 

Technical Points

  • Short term trend is bearish
  • Next key resistance at $62
  • Next major support level at $60

#3. Binance Coin (BNB 5.2% Loss):

Coming third on this list, BNB joins the calibre of top losers with roughly 5.2% loss within the last 24 hours.

BNB has a quite disappointing market sentiment. Many market observers believe in the short term possibility of a bearish run. With around 30% market pressure, BNB emits moderate possibility for the further plunge.

Technical Points

  • A major support is building at the $27.5 level
  • Next level of key resistance lies at $28.0
  • RSI swings into a horizontal pattern at the 50.0 level.

As of present, BNB is changing hands at $27.34 amid a market cap of around $3.4 billion.

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

Show More

Dare Shonubi

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

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Close