Cryptocurrencies Price Analysis: Binance Coin, Iota, Chainlink, Neo

Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.

  • The overall market conditions in today’s session have been introduced to price corrections with the major coins like BTC, ETH, LINK, and XRP turning into red.
  • The current market capitalization stands at $343,751,284,805 with the 24h volume traded at $113,144,583,441 at the time of writing.
  • BTC dominance has slightly decreased bringing the level to 57.60%.

Where is Market Headed Today? 

Both Bitcoin and Ethereum are seeing a bearish trend in today’s session with an overall loss of -1.76% and -1.15% respectively. After reaching Monday’s high of $10950, BTC faced significant selling volume in tuesday’s market scenario with dropping below the mark of $10700. If the downfall continues to aggregate more, the major support level for BTC is around $10200. ETH, meanwhile, held on its major support of $350 and any further downtrend will be a bearish signal. The global sentiments still look not very promising as COVID-19 cases continue to rise globally and the death toll has reached one million.

Source: coin360.com

Top Gainers 

Binance

With the bullish move projected in Tuesday’s market session, BNB is again targeting its major resistance level of $30.00. The crypto asset is moving with an overall gain of 3.83% bringing the current price level to $27.62. The market capitalization stands at $3,988,144,480 with a sharp increase in volume traded by $172,688,654. The BNB/BTC is also performing positive with an overall gain of 5.64% bringing the level to 0.00258037. The main area of concern can be the multi-resistance level of $30.00 which forces the levels to the downside whenever BNB attempts to cross.

Iota (IOTA) 

IOTA is looking confident to reclaim the crucial mark of $0.30 with a bullish move upfront in the market. The altcoin is having an overall gain of 4.98% bringing the levels close to the $0.28 mark. It’s afterwhile a while that the crypto asset has managed to reach to $0.28 levels after breaking below $0.30 at the start of this month. The IOTA/BTC pair is also on bullish momentum with a gain of 0.00002590 BTC. The market capitalization and volume traded stands at $773,002,482 and $10,916,357 respectively. However, the after road for IOTA, if it breaks above $0.30 mark, is doubtful as the altcoin has failed to sustain above the level for a longer duration multiple times in the past which may lead to profit booking momentum.

Top Losers 

Chainlink (LINK) 

The positive momentum built by chainlink has finally halted by the bears or we can say that altcoin is now facing profit booking activity. Just after reclaiming the $11.00 mark, bears made a comeback in the market for LINK. Currently, the crypto asset is facing an overall loss of -3.86% with the current price of $10.30. The LINK/BTC and LINK/ETH pair have gone onto declining mode with a loss of -2.49% and -3.09% respectively. The price levels are supported by the level of $9.70 and any further decline below that will be a bearish signal.

Neo (NEO) 

With a downtrend momentum for the consecutive day for NEO, the price levels have reached the critical area of $20.00. The altcoin was unable to break above the price level of $22.00 and faced negative momentum thereafter. Currently, it is having an overall loss of -3.13% and NEO/BTC pair is facing a loss of -2.00% bringing the current level to $0.00187910. On the downside, the altcoin is having step by step support levels of $18 and $17 respectively. If it is able to regain the bullish momentum, it must cross the resistance level of $22.00 for further price growth in the market.  

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