Binance Coin, VeChain, Ethereum Classic Price Analysis – Dec 30

The broader market still struggled to initiate a quick bullish rally. Consequently, altcoins such as Binance Coin, Vechain, and Ethereum Classic held below their 20-50-200 SMA. Now, the RSI of all these cryptos attempted a rally from the oversold region.

Moneda de Binance (BNB)

Source: TradingView, BNB / USDT

After a breakout of the bearish (yellow) flag, the price action found support at the $ 512 level for nine weeks. Thus, BNB experienced a recovery of 12.55% (from the low of December 20) in an ascending channel (green) until it reached its two-week high on December 27.

For the past three weeks, the $ 560 mark acted as a tough test level for the bulls. The combination of that coupled with the sell off drove a 9.94% pullback in the last three days.

At press time, BNB was trading below its 20-50-200 Simple Moving Average (SMA) at $ 515.8. The RSI It stopped at the 32 mark but signs of revival were visibly flashing. The MACD The lines and histogram confirmed the bearish vigor. But a light red bar at the end gave some hope of a possible recovery. Now, the alt almost seemed to be in range between the $ 569 and $ 512 level as the bulls struggled to test the $ 532 hurdle.

VeChain (VET)

During the last ten days, VET finally broke its long-term downtrend resistance (since Nov 9, white) as it secured the five-month support at $ 0.076.

This recovery attempt trades a rising wedge (green, reversal pattern) on its 4-hour chart. However, the price action found a $ 0.100 mark as resistance from earlier this month.

As a result, it posted a 20.37% breakdown from December 27 to 30. In the past hours, the VET saw a sharp reversal from the $ 0.08157 mark.

At press time, the alt was trading at $ 0.08374. The RSI saw a pullback from the oversold region while showing some signs of recovery. The EMA tapes seemed to turn bearish once again, while immediate resistance could be near the 20 EMA (dark yellow).

Ethereum Classic (ETC)

ETCUSDT 2021 12 30 13 32 12

Source: TradingView, ETC / USDT

After being in an aggressive recession, ETC finally seemed to find a range between $ 33.38 and $ 38.65 for the past three weeks. The 61.8% golden Fibonacci level held firm as the bulls retested the upper channel (yellow) three times before breaking out as price swung above the midline (dotted, white).

In recent days, it has witnessed an ascending wedge breakout (green) from the $ 38 level and plunged below its 20-50-200 SMA. Now, the bulls may find a revaluation level in the 20-SMA (red) at the $ 36 mark.

At press time, ETC was trading at $ 34.38. The RSI It was in a downtrend and hit its one-month low on December 30. However, he needed to cross the 36 mark to confirm a strong comeback. In addition, the DMI suggested a bearish bias without ruling out a possibility of a bullish revival.

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Binance Coin, VeChain, Ethereum Classic Price Analysis – Dec 30

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