Ethereum News: In this article, we will provide general information about the current status of Ethereum (ETH) and Binance Coin (BNB) and how it can be followed. You can also take a look at the summary articles below:
- Ethereum price seems to be leading the altcoins’ recovery after the first big sell-off in July.
- Binance Coin whales are keen to push the price above $300 as the technical levels are on the rise.
Ethereum slumped to $1,700 after failing to break the $2,000 barrier last week. This support resulted in rejection of the alleged possibilities of a drop as low as $1,400. Investors seem to have rallied lower to boost their holdings, giving Ethereum (ETH) support above $1,800.
Currently, ETH is trading at $1,864, with bulls aiming to raise it to $1,900 and $2,000, respectively.
The MACD indicator appears to be giving a bullish signal on the four-hour chart. Once the 12-day EMA breaks above the 26-day EMA, there will be a huge bullish probability, thus supporting Ethereum (ETH) recovery.
Binance Coin (BNB)
Binance Coin whales appear to be arming themselves in a violent vengeance against the whales following the hit after the bulk sale on Monday and Tuesday. BNB managed to reclaim 10% of its value from the recently created support, the estimated $255.
Meanwhile, the local exchange-based token is trading at $278, while whales are trying to break the barrier at $278. An increase above $300, which is also the main target of other retail traders, could trigger more buy orders than he predicted.
This call to buy encourages buyers to invest in Binance Coin, thus pushing the price higher. A break past $300 could trigger another run towards $340.