- Most cryptocurrencies trade at resistance
- Binance Coin has resistance at 500 psychological level
- NEOUSD looks for a reversal down
Major coins trade lower in the last 24 hours with Bitcoin -4.54%, Ethereum -6.70%, Cardano 8.78% Binance Coin -3.66%, Neo 11.59% at writing. Most cryptocurrencies trade at a strong resistance zone along with Binance and Neo coin.
As per Elliott Wave analysis, BNBUSD hit an important and very interesting resistance area. It's golden 61,8% Fibonacci and 500 psychological resistance level, from where we should be aware of a reversal down. However, at first, we need to see some sharp, strong, and significant decline away from projected resistance to even think about a bearish reversal.
Binance Coin 4h Elliott Wave Analysis Chart
NEOUSD looks to be finishing an (A)-(B)-(C) flat correction in wave B after reaching the previous wave (4) and 60 resistance area. So, watch out for a reversal down back to lows for wave C, but keep in mind that bears could be confirmed only below 39 region.
NEOUSD 4h Elliott Wave Analysis Chart
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