Price Analysis

Price Analysis: Binance Coin (BNB), Bitcoin Cash (BCH), Ripple (XRP)

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  • Binance coin sees a hefty pullback after a surge
  • BNB seems to have a support level at $25.12
  • Bitcoin Cash is moving up after a dip at $305.28
  • Ripple is also correcting up from $0.2654
  • XRP struggles to even touch $0.27

Crypto market is standing at the verge, from where it can either take a nosedive or can skyrocket while breaking barriers. Since the last couple of days, Bitcoin is instantly shedding its price, but is still above $10,000, keeping the crypto investors on the edge.

As BTC is struggling for a price boost at present, promising altcoins can strengthen their position in the crypto market by maintaining an uptrend. However, that has not happened yet, in fact, three of the given crypto coins, that includes Binance Coin, Bitcoin Cash and Ripple have gone through a notable price drop today morning. The three crypto coins are now gearing up for a price rebound.

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BNB/USD

Binance Coin Price Chart

Today’s initial price surge of BNB coin has seen a major pullback and is weakly correcting up from there at present. Yesterday, the coin started to trade at $26.12 and then rapidly bottomed to $24.17. Seeing a support level there, BNB price initiated a steady uptrend and reached above $25 before closing. Today, extending the price rise, BNB went as high as $26.11 with an increase of 5.68%.

A steep pullback has caused the BNB coin to trace a drop at $25.12 with a decrease of 3.78%. Binance coin, after an upward correction, has reached $25.21 at 09:45:19 UTC.

RSI of BNB/USD is just above 40, showing no extremities. MACD is in the bearish zone with its MACD line below the signal line. Moreover, the short term SMA line is below its long term SMA line, noting a bearish price trend. Binance coin may face resistance at $26.19, $26.7 and $27.24, whereas its support levels appear at $25.14, $24.6, and $24.09.

BCH/USD

Bitcoin Cash Price Chart

Yesterday, Bitcoin Cash opened above $311 and it saw an initial plunge at $303.85 where it seems to have a support level. The Bitcoin Cash price then took a rise to $312 with an increase of 2.68%. Facing a rejection above, it saw a pullback which has been extended today also.

Recently BCH price has found support at $305.28 and is correcting up from there. At 09:54:24 UTC, BCH is at $307.73.

RSI for BCH/USD is heading for overbought phase while MACD is moving in the bullish zone with its MACD line above the signal line. Also, the short term SMA line has just slipped below the long term SMA line. Bitcoin Cash may face resistance at $312.28 and $316.51 and support level at $304.03 and $300.01.

XRP/USD

Ripple Price chart

Since today morning, Ripple price has been trading under $0.26 only and is still yet to make a full price recovery. The coin is battling with resistance above $0.265 at present. Firstly, XRP saw a price fall of 1.19% causing it to trade as low as $0.2658. With a meek rebound, Ripple soared a bit to $0.2672 and then corrected down to $0.2654. Currently, the coin is moving up from there tracing a bullish trendline. At UTC, XRP is trading at $0.2664 at 12:00:26 UTC.

MACD chart is in the bullish zone but with its MACD line below the signal line, showing a bearish price move. RSI is near 50, showing a stable phase for the major altcoin. Though notably, the long term SMA is below the short term SMA, noting a bullish movement.

XRP may see resistance at $0.2717, $0.2737 and $0.276, while the coin can find support levels at $0.2641 and $0.2621.

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.

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