Shiba Inu, Binance Coin, VeChain Price Analysis: 08 February
Shiba Inu saw exponential gains over the past week and challenged its Point of Control that offered the highest liquidity for nearly three months. Further, Binance Coin and VeChain also projected a one-sided bullish preference in their near-term technicals. Besides, all of these cryptos now flashed an overbought RSI that could eye to test their immediate supports.
Source: TradingView, SHIB/USD
The buyer stepped in at the $0.000018-mark after the alt poked its three-month low on 22 January. Since then, SHIB bulls initiated a recovery and snapped off the trendline resistance (white).
The dog-themed coin witnessed a symmetrical triangle (yellow) breakout on its 4-hour chart on 4 February. Thus, the bulls tested the Point of Control (red) and 23.6% Fibonacci resistance after noting an exceptional 75.5% ROI (from 4 February low). Now, the buyers will continue to face resistance at the current level. Any breakdowns would find testing support near the $0.000029-mark.
At press time, SHIB traded at $0.00003479. After a 50 point surge in just four days, the RSI headed deep into the overbought region and hit its 15-week high on 8 February. Any potential fallout would test the 75-mark before committing to a direction.
Source: TradingView, BNB/USDT
After breaking down from its long-term descending triangle, it witnessed two substantial sell-offs. As a result, BNB noted a 34.78% loss (from 5 January) and touched its 16-week low on 24 January.
However, BNB bulls propelled a recovery as the alt saw a 31.9% ROI to date. As a result, the bulls flipped the $414-mark from resistance to support. Meanwhile, the alt formed an up-channel on its 4-hour chart. Any breakouts from here would find a ceiling near the $457-level. Contrarily, A likely fall
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