Binance Coin, Solana, Ethereum Classic Price Analysis – 5 September

As Ethereum and Bitcoin see choppy price movements over the past sessions, most alts print mixed patterns. The altcoin market has witnessed price consolidations. Ethereum Classic trades near the support zone at $67.36 as Binance Coin faces resistance at $517.20. Also, the past day had Solana losing momentum, declining by 4.7%.

Ethereum Classic (ETC)

Ethereum Classic (ETC) has seen consolidations yesterday. The asset lost 0.6% of its price to trade at $68.60. For now, ETC stands beneath its weekly highs, its immediate support laying at $67.36. Meanwhile, extended downtrends can drop ETH towards $58.09, the coin’s month-low.

Technical indicators show market bearishness. MACD’s histogram notes red bars following a bearish cross. Chaikin Money Flow hovers beneath the half-line, depicting a significant capital inflows drop. Also, the Awesome Oscillator confirms similar developments as it shows red sign bars. If ETC sees breakouts out of the consolidation, it might rise to revisit $75.04.

Solana (SOL)

The market actions since yesterday witnessed SOL dropping 4.7% to stand at $139.30. The altcoin appears to move towards its nearest support at $125.95 after attaining a new ATH yesterday. A plunge under $125.95 would have SOL trading at $99.92, the last week’s low.

MACD showed red bars emerging on its histograms. The Awesome Oscillator depicted red sign bars that indicate market bearishness. Meanwhile, the RSI remains bullish around 60. Upside price movements might propel Solana towards retesting its closest resistance at $144.54, then $158.40.

SOL’s actions to attain an ATH yesterday had the altcoin surpassing DOGE as far as market capitalization is concerned, taking the 7th spot.

Binance Coin (BNB)

BNB saw range-bound movements as it climbed slightly on its daily chart. The crypto trades at $491.99 as its overhead resistance locates at $517.20. The alt’s Bollinger Bands are constricted, confirming price consolidation. For now, BNB can have its price actions in the $491.99 – $460.42 range.

Meanwhile, MACD’s histogram sees green bars retreat in the last sessions. Also, the RSI neared the half-line, standing over the 50-level while publishing these lines. If the coming sessions force BNB down, it will have its initial support of around $460.42, a 2-week low. Failure to maintain at this price level might witness Binance Coin plunging to $433.54.

Feel free to share this article.

Leave a Reply

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