Altcoins that have attracted the attention of whales during the recent market downturn

Altcoins that have attracted the attention of whales during the recent market downturn

Experts from the analytics company Centiment tracked the number of "whale-scale" wallets on Altcoin's large networks and found that over the past week, four digital currencies have received special attention from whales.

Polygon (formerly Matic Network), Ren (REN) digital currencies were aggressively bought from the Ren, Cyber ​​Network (KNC) and Binancecoin(BNB) protocols at the Bainance digital currency exchange.

Analysts interpret the trend as a clear indicator of whales' confidence in the positive short-term and medium-term outlook for these popular altcoins.

As previously reported by U.Today, China Link Whales (LINK) are also steadily increasing their positions despite short-term price fluctuations.

In total, buyers have invested more than $ 2.37 billion in digital currency exchanges to buy digital currencies. According to Glassnode, this is the second significant Tetra liquidity flow in the history of digital currencies.

Dogecoin (DOGE) and Ripple (XRP) had the worst performance among the top 20 currencies in terms of market value during the recent sudden collapse.

Meanwhile, Shiba Inu tokens have risen 13.3% and Monroe (XMR) 9.4% in the last 24 hours.

Bainance coin Analysis (BNB) Wednesday, March 10

Bainance coin Analysis (BNB) Wednesday, March 10

After forming a support base above the $ 200 level, Bainance coin started a new upward trend. The BNB has broken the $ 220 resistance and recently crossed the $ 250 resistance area.

This paved the way for a Sharpe rally above the $ 275 and $ 285 resistance levels. BNB traded at $ 297 and is currently undergoing correction. Following this correction, the BNB price fell below the correction level of 23.6% Fibonacci uptrend from $ 214 to $ 297.

The currency is still trading above $ 260 and a simple moving average of 100 (4 hours). The cows are strongly protecting the $ 265 and $ 260 support levels. The next major support is near the $ 255 level, which is near the 50% Fibonacci retracement level of the $ 214 to $ 297 uptrend.

The BNB / USDT 4-hour chart shows a major uptrend with support around $ 245. In the uptrend, cows face significant barriers near the $ 285 and $ 290 levels. The main resistance is still close to the $ 300 level, and above that, the BNB is likely to accelerate further in the short term.

If the BNB fails to reach levels above $ 285 and $ 295, it will face a new downtrend. In this case, the first major support is close to the $ 255 level.

The next major support will be close to the $ 245 level and the trend line. If the price falls below the support line of the trend line, there is a possibility that the price will fall to the support area of ​​$ 220.

Technical indicators

The hourly MACD for the BNB / USD pair is gradually accelerating in the uptrend.

The hourly RSI for the BNB / USD pair is above the 50 level.

Main support: $ 265, $ 255 and $ 245

Main resistance: $ 285, $ 295 and $ 300

An overview of the cryptocurrency market Sunday, February 21

An overview of the cryptocurrency market Sunday, February 21

The currency calmed down to about $ 56,000 after the last bitcoin price hit a record high of $ 57,500 and then reached $ 54,000 with a sharp correction. Most replacement coins have also been declining over the past 24 hours.

Bitcoin settles at $ 56,000

Last week was a good week for the market's top cryptocurrency as it was able to offset the loss from the recent fall of $ 46,000. In the following days, the asset set a new record with a price increase of more than $ 11,000.

These developments led to the beginning of the last significant rally of this currency. The uptrend started at $ 55,000 and ended at levels above $ 57,500.

As is sometimes the case in the world of cryptocurrencies, this record was followed by a sharp drop in price to $ 54,000 in most cryptocurrencies, but Bitcoin managed to get out of this correction immediately and is now priced at around It will be traded for 56 thousand dollars.

The market value of the BTC mark has remained at $ 1 trillion, while the dominance of this asset in the market has slightly increased to 61.5% because most altcoins have turned red in the last 24 hours.

Blood bath in the Altcoins market

Over the past few days, most Altcoins have begun to grow; Of course, none of them may have grown as significantly as Baines Coin (BNB). The cryptocurrency gained three-digit growth in the last seven days, setting a new record at around $ 350. It is interesting to know that less than a month ago, BNB was trading at $ 40!

Yesterday, the local currency of Bainance Exchange started a corrective process and lost almost $ 100 of its value and reached $ 260. Atrium fell 4 percent after failing to close its daily candle above the $ 2,000 milestone. Ripple (7.5%), Light Coin (8-%) and Bitcoin Cash (8-%) are also red.

Polkadat reached a new record above $ 40 yesterday and for a short time even replaced the BNB among the top 3 currencies in the market, but has since stopped and is now trading below this level. Cardano (ADA) also rose 6 percent to $ 1.12.

However, on the 24-hour UNI scale, with a 25% increase, it saw the largest price increase among high-value altcoins. As a result, the Uniswap dominance token hit a record high of $ 32 earlier today. Thus, this asset became the twelfth largest cryptocurrency in terms of market value.

The situation has been slightly better between lesser-valued altcoins. The Pundi X tops the list with a 55% price increase, followed by Flow (20%), Voyager (19%), BitTorrent (17%) and Ontology (14%).

Quant, on the other hand, had the biggest price drop of 13 percent. Ren (-11%), Solana (-9%), Monero (-9%) and EOS (-9%) are next.