Exchange Tokens Resilience Despite Bitcoin Crash – Cryptocurrency Analysis

BTC still in uncertainty – The price of Bitcoin has not reached a new all-time high for 90 days. BTC continues to hover below $70,000 as capital flows massively into crypto-linked investment products. Last week, the market actually saw an influx of $2 billion into crypto investment instruments. At the same time, altcoins are showing excitement and have been in the red for over a week. Ethereum (ETH) and Solana (SOL) are down 6% and Dogecoin (DOGE) is down more than 10% for the week. Has the exchange token sector been affected by BTC falling below $68,000? Let’s look at the clues left by the graphs!

Back to top for Binance Coin (BNB)?

Last week Binance BNB did it exit the compression periodwhich allows the price to exceed resistance at $640. If we look at the trend of BNB, we can see that the price is pulling upward lows and highs. Therefore, momentum is clearly bullish on this asset:

Binance BNB is back on the bullish institutional bias (EMA 9/EMA 18).
Binance Coin Price Against Dollar (3D)

After he had it hit a local high around $720the course is back to institutional bias (EMA 9/EMA 18) bullishwhich is located under the $640 level. Here, buyers must show themselves to be able return well over $640. Buyers goal is to close for last high at $721.8 (green arrow). This while maintaining the last low marked around $496. On the other hand, if 640 dollars reject the price and BNB will slip below the 9 and 18 moving averages bearish volatility could be placed.

The overall dynamics of the RSI is bullish. And after experiencing a period of decline in the RSI since March, the indicator is gaining momentum again rising troughs and peaks. It will be necessary to continue on this path and develop further 72.

Binance Coin continues to be strong against Bitcoin

As we saw in the previous installment, BNB is very strong against the dollar. BNB succeeded reach a new all-time highand before Ethereum (ETH). And so is BNB strong against bitcoin. Indeed, with a fence behind last high at 0.009811 BTCcontinues the pair bullish momentum in place since breaking the bearish trend line :

The BNB/BTC pair is showing an uptrend with rising lows and highs. The BNB/BTC pair is showing an uptrend with rising lows and highs.
Binance Coin Price vs Bitcoin (3D)

After succeeding in close behind the last highthe course has fell under resistance. Buyers could show up on the level bullish institutional bias. If the price is able to retrace past the resistance level, bullish volatility could be placed towards next resistance at 0.0118 BTC. Otherwise, the price could return to support at 0.0083 BTC.

RSI draws rising troughs and peaksbut then he fails to score higher again 71. Therefore a divergence appears. It shows certain shortness of breath on steam.

Coinbase price on track to break $270 resistance

Coinbase Coin is impressive for several months. It actually has a series of ascending troughs and peaks. Also buyers are present at the 9 and 18 moving average levels oriented upwards. Lately, it has been on the course again he bounced back at the level of the moving averages located at the level support for $210 :

Coinbase price needs to break $270 to find resistance at $340. Coinbase price needs to break $270 to find resistance at $340.
Coinbase price against the dollar (3D)

For now, the course stuck at $270. To continue on bullish momentumit will be necessary to have a fence higher than last high recorded at $283.5. If this scenario occurs, resistance at $270 could retreat and the price could reach resistance at $340. If the sellers win the level 270 dollarsreturn to support for $210 is entirely possible.

The RSI continues to move below bearish trend line. As a result, momentum remains brittle. However, a breaking the bearish trend line can be positive because it often generates bullish volatility.

Towards a support break at $47 for OKB?

From OKB reached the local peak in March Fibonacci extension zone 1.618 and 2 (between $73 and $81), the price is va correction phase. In fact, OKB continues downspouts and peaksand the course continues reject level bearish institutional bias :

Institutional bias has rejected the OKB award and support is waning. Institutional bias has rejected the OKB award and support is waning.
OKB price against the dollar (3D)

If support for $47 he finally gives in, another the demand area is around $40. This is the level of support that was during bounce back several times in 2023. For the buyer, the fence should be behind last high at $52.6. That would show that once again the bulls are stronger than the bears.

RSI is always stuck below a bearish trend line and continues in downward troughs and peaks. THE sellers maintain control of momentum as long as the RSI remains below this trend line.

Kucoin KCS Stabilizes Around $10.5 Resistance, Calm Before The Storm?

On the KCS side, the situation is very uncertain. The course is not displayed no clear upward momentumand this despite bullish volatility known after breaking the bearish trend line. Because the dynamic was challenged during breaking the recent low around $9. Then the course he bounced back level support for $8.5. KCS evolves around resistance at $10.5 for several weeks now:

KCS price remains below resistance at $10.5. KCS price remains below resistance at $10.5.
KCS price against the dollar (3D)

If the course is complete decline to $10.5AND back to $8.5 is possible. Buyers will then have to defend this level of support avoid a new wave of decline. However, in case $10.5 breakprice could find itself moving towards resistance at $14.5. But find a clear bullish momentumit will be necessary to manage the return outside last high recorded at $16. RSI is always very fragile after he had confirmed the bearish divergence. It’s you sellers who have momentum.

The exchange token sector is affected by Bitcoin’s drop below $68,000, but remains resilient. After reaching a new all-time high, Binance Coin is already back below the $640 level. Despite this decline, BNB remains bullish against the dollar as well as against the king of cryptocurrencies. Coinbase COIN is trading below $270. Buyers need to pressure sellers to retreat at $270.

OKB needs to react quickly to avoid losing the $47 support. Sellers will maintain price control as long as OKB trades below the recent high at $52.6. KCS has been in contact with resistance at $10.5 for several weeks now. It will need to be crossed to regain upside volatility and hopefully return to $14.50. Altcoins could continue to be relatively fragile until Ethereum can express itself…

Leave a Comment