The broad crypto market still fails to trigger a significant bullish run. As a result, alternative coins such as Ethereum Classic, VeChain, and Binance Coin remained under their 20-, 50-, and 200-Simple Moving Average. Meanwhile, the trio has their RSI trying to escape the oversold territory.
Binance Coin (BNB)
Binance Coin secured its 9-week support at $512 after breaking down from a bearish flag. The footing helped BNB with a 12.56% rally from December 20 lows, poking a 2-week peak on December 27.
Meanwhile, the $560 area has served as a robust testing zone for BNB bulls over the past 21 days. That plus the broad market plunge catalyzed a 9.95% correction within the last 72 hours.
While writing this blog, Binance Coin trades under the 20-, 50-, and 200 Simple Moving Average at $515.8. The Relative Strength Index stayed around the 32-level but displayed revival gestures.
The MACD affirmed the bearish strength. Nevertheless, the light red bar highlighted recovery hopes. For now, BNB appears range-bound with the $569 – $512 mark as bulls target the hurdle at $532.
The last ten days saw VET overpowering its long-term bearish outlook while maintaining the 5-month support floor at $0.076. The attempt to rise formed a climbing wedge on the alt’s four-hour chart. Nevertheless, VeChain saw $0.100 as a resistance level since December started.
With that, the altcoin noted a 20.36% drop from December 27 to December 30. Meanwhile, VET recorded a massive reversal from the $0.08157 value area over the last few hours.
While publishing this content, VET traded near $0.08374. The RSI witnessed a drop from the oversold area while depicting revival signals. Meanwhile, EMA ribbons appear to show a bearish flip again as the closest resistance might surface around the 20-EMA.
Ethereum Classic (ETC)
ETH appeared to secure a range of $33.38 – $38.65 over the past 21 days following aggressive downturns. The 61.8% Fib level remained sturdy as bulls tested the top channel three times before overcoming it, taking the price beyond the midline.
The last few days had Ethereum Classic on a climbing wedge breakdown from $38, falling under the 20-, 50-, and 200-SMA. For now, bulls might discover a retest level at 20-Simple Moving Average near $36.
While writing this article, ETC hovered at $34.38. The RSI witnessed a drop, poking a 1-month low on December 30. Also, the DMI flashed bearish favoritism without disposing of bullish reversal potentials.