August 13, 2022

Be[in]Crypto takes a have a look at the worth motion for seven completely different cryptocurrencies, together with Terra (LUNA), which fell significantly on Might 9.

BTC

Bitcoin (BTC) had been buying and selling inside an ascending parallel channel since Jan 21. On Might 5, it lastly broke down from it and significantly accelerated its charge of lower.

Thus far, it reached a low of $29,730 on Might 10. 

An fascinating growth is the truth that the quantity on Might 10 was the very best in practically a 12 months (purple icons). 

Presently, BTC is buying and selling simply above the $30,500 horizontal help space, the place it has presumably initiated a bounce.

ETH

Ethereum (ETH) had been rising alongside a short-term ascending help line (dashed) since Jan 21. On Might 5, it lastly broke down from it and reached a low of $2,200 on Might 10. The low was simply barely above the yearly low of $2,170. 

The subsequent closest help is created by a longer-term ascending help line, which has been in place since June. The road is presently at $2,050.

XRP

XRP had been buying and selling above the $0.58 help space since Jan 22. Whereas it bounced above the world on April 30 (inexperienced icon), it has fallen under it since.

Presently, XRP is buying and selling under the $0.52 horizontal space, which had beforehand not been examined since July 2021. If it fails to reclaim it, the speed of lower might speed up additional.

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C98

Coin98 (C98) has been lowering inside a descending wedge since Aug 25. The downward motion appears to have been contained inside a descending wedge. 

C98 was rejected by the resistance line a number of occasions, most lately on April 21 (purple icon). If the downward motion continues, the help line of the wedge can be at $0.05. This is able to be very near a brand new all-time low worth.

LUNA

LUNA has been falling since reaching an all-time excessive worth of $119.55 on April 5. The lower has been swift, and it significantly accelerated on Might 9, when the worth decreased by 52% in a single day. 

It’s potential that the lower occurred because of the depegging of the stablecoin UST.

After the drop, LUNA bounced on the $25 horizontal help space. If the world fails to carry, the subsequent help ranges can be at $6.

RSR

Reserve Rights (RSR) has been falling at an accelerated charge since Nov. Initially, it bounced on the all-time low help space, however created a decrease excessive and fell afterwards, breaking down from the world within the course of.

On Might 10, it reached a brand new all-time low worth of $0.0059. The earlier all-time low help space at $0.007 has now turned to resistance. Till it’s reclaimed, the pattern can’t be thought-about bullish.

RSR/USDT Chart By TradingView

BNB

Binance Coin (BNB) had been rising alongside an ascending help line since Jan 21. Nonetheless, it didn’t maintain the upward motion and broke down from the road on Might 5. Thus far, it has reached a low of $289 on Might 10.

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The subsequent closest help space is at $260, created by the Might to July 2021 lows.

BNB Drop
BNB/USDT Chart By TradingView

For Be[In]Crypto’s earlier Bitcoin (BTC) evaluation, click on right here

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