BNB May Plummet By 12% As Avalanche (AVAX) Witnesses An Imminent Fall To Below $14
Key Points:
- A pseudonymous analyst advises that the fifth-largest crypto asset by market value – Binance Coin (BNB) might fall by 12% from present levels.
- Avalanche – an Ethereum rival might fall to slightly around $14, which corresponds to the 61.8% Fibonacci level from the year-to-date high of $18.97.
A well-known cryptocurrency analyst and trader is pessimistic about Binance Coin (BNB) and one Ethereum (ETH) competitor in the short run.
Starting with Binance Coin, Smart Contracter, a pseudonymous analyst, advises that the fifth-largest crypto asset by market value might fall by 12% from present levels.
According to the charts, the trader using Elliott Wave Theory in his technical analysis believes Binance Coin has finished a five-wave bullish pattern and is prepared to correct up to roughly $265, which coincides with the 61.8% Fibonacci level from the year-to-date high of $323.
BNB coming down to minimum $265 in my opinion, is definitely on my radar for shorts on any bounce after daily close.
Binance Coin is currently going at $300 at the time of writing, rising roughly 24% since the year 2023 began.
Coincu reported 10 days ago, that Binance had just finished burning nearly 600 million USD of BNB – the plan to burn BNB takes place in accordance with Binance’s commitment.
Avalanche (AVAX), an Ethereum rival, comes next. According to Smart Contracter, after completing a five-wave bullish pattern, Avalanche might correct by up to 30% in February.
According to Smart Contracter’s charts, Avalanche might fall to slightly around $14, which corresponds to the 61.8% Fibonacci level from the year-to-date high of $18.97.
A lot of “majors” if we can call them have now done clean clear 5 wave rises on daily, not all of them, but enough. $avax is one i think we can potentially see 25-30% pullbacks begin over the course of the next month, hate to be the bearer of bad news but it is what it is.
Avalanche is trading for $18 at the time of writing, increasing 65% over the last month.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Thana
Coincu News
Author
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BNB May Plummet By 12% As Avalanche (AVAX) Witnesses An Imminent Fall To Below $14
Key Points:
- A pseudonymous analyst advises that the fifth-largest crypto asset by market value – Binance Coin (BNB) might fall by 12% from present levels.
- Avalanche – an Ethereum rival might fall to slightly around $14, which corresponds to the 61.8% Fibonacci level from the year-to-date high of $18.97.
A well-known cryptocurrency analyst and trader is pessimistic about Binance Coin (BNB) and one Ethereum (ETH) competitor in the short run.
Starting with Binance Coin, Smart Contracter, a pseudonymous analyst, advises that the fifth-largest crypto asset by market value might fall by 12% from present levels.
According to the charts, the trader using Elliott Wave Theory in his technical analysis believes Binance Coin has finished a five-wave bullish pattern and is prepared to correct up to roughly $265, which coincides with the 61.8% Fibonacci level from the year-to-date high of $323.
BNB coming down to minimum $265 in my opinion, is definitely on my radar for shorts on any bounce after daily close.
Binance Coin is currently going at $300 at the time of writing, rising roughly 24% since the year 2023 began.
Coincu reported 10 days ago, that Binance had just finished burning nearly 600 million USD of BNB – the plan to burn BNB takes place in accordance with Binance’s commitment.
Avalanche (AVAX), an Ethereum rival, comes next. According to Smart Contracter, after completing a five-wave bullish pattern, Avalanche might correct by up to 30% in February.
According to Smart Contracter’s charts, Avalanche might fall to slightly around $14, which corresponds to the 61.8% Fibonacci level from the year-to-date high of $18.97.
A lot of “majors” if we can call them have now done clean clear 5 wave rises on daily, not all of them, but enough. $avax is one i think we can potentially see 25-30% pullbacks begin over the course of the next month, hate to be the bearer of bad news but it is what it is.
Avalanche is trading for $18 at the time of writing, increasing 65% over the last month.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Thana
Coincu News
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