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November 29, 2022
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Price Analysis: Ethereum (ETH) and Binance Coin (BNB) – July 28

Ethereum (ETH)

Ethereum (ETH) followed the drop in aggregate market capitalization early Wednesday and returned some of the gains accumulated over the previous 6 daily green candles.

The cryptocurrency’s aggregate market capitalization took another step forward on Tuesday, with the market gaining 3.9%+ and approaching a market capitalization of $1.6 trillion. The aggregate market capitalization of cryptocurrencies closed at $1.58 trillion on Tuesday.

The chart below AtlasTrades shows the Ether backtest of resistance and support and the spring we saw starting at the end of Tuesday’s daily candlestick.

Resistors are at $2,638 and $2,910. If ETH fails here, the trip to the downside could bring the price back to the $1,740 level.

The table below shows that Ethereum is trading above all of its major moving averages except for the 100 days.

The 24-hour Ether range is $2,152-$2,318 and the 7-day range is $1,773-$2,383. The 30-day average price of ETH is $2,100.

The Ethereum [+ 3,3%] closed Tuesday’s daily candlestick at $2,301 for a 7th consecutive close on green numbers.

Binance Coin (BNB)

Binance Coin’s July was one of the best among all the top projects in the blockchain industry and is up 13.32% in the last 30 days at the time of writing.

Although many of the projects that were greater than 10x in the last 12 months are no longer 10x, BNB has managed to recover and is still +1,459% in the last 12 months.

So, with BNB recovering ahead of most of the cryptocurrency market, what does the near future hold for Binance Coin?

The graph above mansour 1978 shows an important range of $245-$271 as a good target for bullish traders in the interim.

A bearish scenario occurs if bears are able to push the price down to challenge support resistance at $213 and below that price $200 is the next support resistance level if $213 fails to hold.

The 24-hour BNB range is $297.61-$318.41 and the 7-day range is $262.74-$323.12. The 30-day average price of Binance Coin is $303.48.

The BNB [+ 3,11%] closed the day on Tuesday at $313.70, for the 2nd consecutive close in green values.

Source: Cryptonomist

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