Top altcoins to watch next week: Solana (SOL), Toncoin (TON), Binance Coin (BNB) poised for growth
Binance Coin (BNB) price analysis.
BNB is falling amid an uptrend, suggesting investors are locking in profits after a big rally. Sellers are active around $640, strongly blocking any rally above this level. However, buyers holding the price near the EMA50 level is considered a bullish indicator, suggesting that investors are keen to buy without waiting for a significant drop. This could pave the way for a rally above $640 and send the pair towards the resistance area between $670 and $690.
However, a decline below the $516 level will strengthen the bears' advantage.
Solana (SOL) Price Analysis.
Solana has seen a significant increase recently, reflecting strong buying from higher levels. The price of SOL rose above the Fibonacci channel and neared the $200 mark, which satisfied the buyers. At the time of writing, the SOL price is trading at $186, down 3.6% in the last 24 hours.
The recent rise has pushed the RSI into overbought territory, meaning that the SOL/USDT pair has been bullish in the short term. A rapid rise can produce a correction phase, and the pair may be sent to the 20-day EMA.
Toncoin (TON) Price Analysis.
Buyers are trying to push the TON price to the key resistance at $4.5, but the big wicks on today's candlestick indicate buying pressure at higher prices.
After that, the price drops significantly and drops below several moving average lines. If the price falls below $2.9, this will signal the start of a larger correction, possibly towards $2.2.
On the other hand, a break from the $3 level indicates that buyers are actively buying at a key support area. This could lead to another TON/USDT trading range challenge at $4.5.
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