• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / Opinion / Market Analysis / Ethereum, Binance Coin, Chainlink Technical Analysis On 5th November 2020
Ethereum, Binance Coin, Chainlink Technical Analysis On 5th November 2020

Ethereum, Binance Coin, Chainlink Technical Analysis On 5th November 2020

November 5, 2020 by Reena Shaw

Several altcoins such as Ethereum, Binance Coin as well as Chainlink witnessed a notable spike in their respective valuations. The global market cap rose to $412.5 billion after an increase of 4.52% over the last day. However, despite the generally bullish sentiment, not all the coins appear to be able to retain the rally.

Ethereum [ETH]:

ETGH e1604574315449

Ethereum’s [ETH] stint above the $400-mark was rather shortlived, however, it was up by 4.89% over the last 24-hours. It was priced at $399.8 while registering a market cap of $45.30 billion and a 24-hours trading volume of $17.68 billion.

The green closing bars of Awesome Oscillator flipped bullish momentum after a week of treading in the red zone. After falling close to zero line, Chaikin Money Flow spiked following the bullish price action. This depicted an increasing inflow of capital into the coin market.

The coin found crucial support at $339-level as it targeted to breach the recently hit $474 resistance level.

Binance Coin [BNB]:

BNB 2 e1604575886391

Binance Coin [BNB] rose by 2.47% over the past 24-hours pushing its price to $27.1 as it held a market cap of $3.91 billion and a 24-hour trading volume of $429 million

Despite the bullish phase, both Klinger Oscillator, as well as MACD, continued to demonstrate the prolonged bearishness in the coin’s valuation. Depicting that BCH could have topped out and the investors were now in anticipation of a sell-off.

The Binance Coin bears could now target a retracement to its nearest support level of $22.80.

Chainlink [LINK]:

LINK 2 e1604576382222

Over the past 24-hours, Chainlink [LINK] noted a minor decline of 0.99% as it fell to $10.18. At the time of writing, the token recorded a market cap of $3.97 billion and a 24-hour trading volume of $1.69 billion.

The ongoing bullish price movement did little to flip the trend for LINK. This was evidenced by the dotted markers of Parabolic SAR aligned above the LINK price candles as it continued to resist a potential uptrend.

The RSI also slipped below the 50-median line depicting a rising sentiment of sell-pressure among the investors in the coin market.

If this persists, Chainlink could witness a drop to its support level of $8.77 while the resistance stood unbreached at $11.55.

Filed Under: Market Analysis, News

Primary Sidebar

Recent Posts

  • Litecoin [LTC] To Prolong Its Upward Trajectory Following A 10% Daily Surge January 19, 2021
  • Ethereum’s Daily Transaction Vol Goes Parabolic January 19, 2021
  • Binance Coin [BNB] Mustering For A New All-Time High; $47 Next Stop For BNB? January 18, 2021
  • Ecuador’s Presidential Candidate Wants To Issue National Crypto Backed By Gold January 18, 2021
  • Bitcoin Continues To Garner Endorsements From Former Govt Officials Across Canada And USA January 18, 2021


Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2021 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.