The leading cryptocurrency Bitcoin managed to break the key $51,000 resistance last week despite the bullish market sentiment. Leading BTC is trading at $51,360, with a 3% increase in the last 24 hours.

Bitcoin, the leading cryptocurrency in the crypto money market, was supposed to rise above $ 53 thousand. After the Bitcoin price formed an ascending channel, it was in the recovery phase and also experienced a decline.

Altcoins such as Binance Coin, VeChain and EOS, on the other hand, gave signs of recovery, although they adapted to this decline. Analyst Yash Majithia evaluated the cryptocurrencies in question.

Binance Coin (BNB)

Despite all the efforts of the bulls, BNB price faced resistance at the $550 level. After the Bitcoin price depreciated by 2.7%, the BNB price also experienced a decrease of approximately 2.6%. The closest support is near the $532 level, which coincides with the 50 SMA (red).

Binance Coin price is trading at $540.1. According to the analyst, although the RSI indicator is located in the 49 band, it gave signs to rise above the middle line. The analyst thinks that while the DMI indicator is in favor of the bear, ADX indicates a weak directional trend for BNB.

Binance Tether

VeChain (VET)

Although VET price lost its gains in its rally, the bulls managed to hold the five-month support level of $0.076. As a result, the altcoin broke out from its descending channel (yellow) on December 16.

The VET price has gained 23.82% as of December 15th. However, he thinks VET price has surpassed the trend resistance (white) in favor of the long-term bearish and regained the support at $0.087. VET is trading at $0.09189. According to the analyst, he thinks that the RSI indicator shows a decrease from the overbought zone with the decrease of the buying pressure.

Although the MACD lines are above the equilibrium point, the altcoin's histogram was found below the zero line, indicating that the bullish momentum is waning.

VetChain Tether


As a result of a decline in the general cryptocurrency market, the price of EOS has returned between $3.09 and $3.4, where it has been for the past 14 days. As a result, the analyst thinks that the SMI indicator is in the consolidation phase and exhibits black dots.

EOS price is trading at $3.34. The RSI indicator remained below the midline after it showed signs of recovery. The analyst thinks that the ADX indicator indicates a weak directional trend. According to the analyst, instead of rising during this rise, the volume oscillator, like the same VET altcoin, created new lows and indicated a weak bullish movement.

Eos tether