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 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.
- 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.
#2. Cardano (ADA 6% Loss):
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.
- 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.
#3. Ethereum (ETH 3% Loss):
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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