Binance Coin has moved down from the descending triangle pattern, but it seems likely that there will be a recovery above the 0.5 Fibonacci level in the next few trading sessions. Similarly, Zcash has also shown a bullish trend and could reverse the direction if hints from across the market remain positive.

 

 

Binance Coin (BNB) price analysis

In the 4-hour time frame, after a downward break, Binance Coin fell below the 0.5 Fibonacci level after a descending triangle formed on the charts. The Awesome Oscillator went below the half-line as there was strong momentum on the sell side. If sales continue for the next few sessions, the 0.786-Fibonacci level could draw attention.

The RSI was a little more optimistic as it is heading towards the 40 mark. However, the 0.5 level should be rotated for a bullish trend.

Zcash (ZEC) price analysis

Zcash is also traded in red at the time of this article, after losses of 20% compared to yesterday. The Average Directional Index touched the 40 mark, highlighting the strong downtrend over the past few sessions. If the sale continues, the next level of support lies at $ 97.4.

On the other hand, the RSI highlighted a potential reversal after moving north from the oversold zone. If purchases increase at this level, ZEC could move towards $ 130.

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