Binance Coin looked to revisit $38.72 as the price failed to hold up above its present resistance. Dash formed a symmetrical triangle on the charts and presented the possibility of a breakout above $135.69 resistance while SNX reversed course and fell by over 12% after hitting record levels.

Binance Coin [BNB]

Source: BNB/USD, TradingView

Binance Coin retested $41.8 and moved lower as the bulls failed to lift prices towards $44.82 resistance. Prices could revisit the $38.72 support if the fall continues over the next few trading sessions. If the price rises, that would present an upside of $44.82. However, indicators favored the bears and suggested that a move towards immediate support could be a likely outcome.

The MACD was on the verge of a bearish crossover as the signal line eyed a move above the fast-moving line.

The Awesome Oscillator agreed with the MACD and indicated that momentum was shifting towards the bears.

Dash [DASH]

Source: DASH/USD, TradingView

Dash flashed red at press time, as prices traded at $121.84, down by 3.87% in the past 24 hours. A look at the 4hr chart showed that the price had formed a symmetrical triangle, and a breakout could be witnessed over the next few trading sessions. A bullish outcome could see the coin’s trading price rise above its immediate resistance and target a move above the next resistance at $135.69. On the flip side, a downward breakout could see the coin move below support $113.1.

The Stochastic RSI moved in the oversold territory and signaled a potential pullback if the index reverses direction.

The Parabolic SAR’s dotted markers were below the candlesticks and indicated that the price action was in an uptrend.

Synthetix [SNX]

Source: SNX/USD, TradingView

Synthetix hit an all-time high of $17.24 but immediately dropped by over 12% in the last few trading sessions. For now, losses were cut short at $14.63 support, but a fall below the present defense would confirm a bearish pullback.

The Relative Strength Index pointed downwards from the neutral zone. If the index moves into the oversold region, the price could follow suit and drop towards $13.41 support.

The MACD witnessed a bearish crossover as the price fell from record levels. The red bars on the histogram suggested the likelihood of a further pullback in prices.

Source: https://ambcrypto.com/binance-coin-dash-synthetix-price-analysis-17-january

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice

The Monero market has been descending over the past couple of days. The overall trend in the market has not been actively bullish, and for Monero the trend has turned to a bearish one. As the price climbed down the price ladder, the market may witness more bearishness.

At the time of writing the price of Monero was $152.24.

Monero daily chart

Source: XMRUSD on TradingView

The Monero chart has been showing that the price has been dropping after it hit the resistance at $170.89. This retracement has been currently testing the support at $151, and the price has been witnessing a strong downward pressure.

As the value of the digital asset continued to see a push and pull at the level, it may force the price to sink further down to the second support at $146. This would be an opportunity for traders to make a profit.

Reasoning

The 50 moving average has already been spiking above the candlesticks highlighting the downtrend of the coin. The RSI has moved closer to the overbought zone from the equilibrium zone, which suggested that the sellers in the market were growing.

Meanwhile, the MACD indicator was noting a rise in bearishness in the market. The strong red bars were growing and have continued in the market for a few days now. Whereas, the MACD line although under the signal line for a couple of days now, was witnessing its gap grow.

Crucial levels

Entry: $151.02
Stop-Loss: $156.78
Take-Profit: $145.10
Risk-to-Reward: 1.03

Conclusion

The current market conditions indicated an increased bearishness in Monero’s price action. As the digital asset trades close to the support, and if it ends up breaching it, the coin’s price is likely to drop to the next level of support at $146 which will, in turn, provide only a minimal profit to the short traders.

Source: https://ambcrypto.com/monero-price-analysis-17-january

Litecoin struggled to break above its current resistance, and sellers pushed prices towards $133.03 support. VeChain retested $0.026 and moved lower as buyers struggled to maintain control of the price while ETC traded within a restricted channel and relied on broader market cues for its path forward.

Litecoin [LTC]

Source: LTC/USD, TradingView

Most of Litecoin’s gains since the start of the month were negated after Bitcoin’s correction dragged LTC towards its $124.7 support. In fact, LTC’s weekly fall of over 22% was the highest among the top 10 cryptocurrencies by market cap. At the time of writing, LTC’s price was trading between $133.03 and $150.2 and seemed bearish. On the flip side, a broader market rally could boost its price above the upper ceiling and push them towards $155.5.

The Relative Strength Index was moving lower from the neutral zone, a sign of the price being bearish.

The Bollinger Bands indicated that the price could remain constricted over the next few sessions, as the bands were compressed.

VeChain [VET]

Source: VET/USD, TradingView

After a breakout from the $0.026 resistance, VeChain retested the level once again. For now, sellers seemed to be in control and the price moved back towards its $0.024 support. On the other hand, a bullish scenario could see prices head towards the next resistance mark at $0.030.

Although the Awesome Oscillator registered two points of bearishness, it indicated a potential shift of momentum towards the market bears.

Lastly, Chaikin Money Flow suggested that capital inflows could keep prices from falling below their present support level.

Ethereum Classic [ETC]

Source: ETC/USD, TradingView

At press time, Ethereum Classic was trading at $7.43, up 1.48 percent in the past 24 hours. Despite the move into green territory, ETC has been largely uneventful in the last few days. Prices have traded between a thin channel of $9.66 and $8.34, with momentum resting with neither the bulls nor the bears. The period of inactivity could perhaps be justified by slow growth in market leaders BTC and ETH, since the correction. A broader market trend could define a path forward for ETC, but for now, prices could continue to trade within their present channel.

The MACD was bearish-neutral as the red bars stayed below the zero line.

If the Stochastic RSI continued its trajectory into the oversold zone, and prices could fall and test the next support at $$7.77.

Source: https://ambcrypto.com/litecoin-vechain-ethereum-classic-price-analysis-17-january