Ethereum and BNB are ready to rebound

Last week, Ethereum (ETH) and BNB performed poorly, with prices continuing to fall. But recent analysis suggests that the situation may be about to reverse.

ETH prices have corrected 7% in the past week and are currently trading at $3,230 with a market capitalization of over $388 billion. Similarly, BNB prices have fallen by more than 2% in the past week and are now trading at $578 with a market capitalization of over $84 billion.

Moustache, a well-known cryptocurrency analyst, recently pointed out that these altcoins have formed a "cup and handle pattern", which indicates that a bull run is coming. Data from AMBCrypto shows that BTC reserves on exchanges have increased and selling pressure has increased, but the derivatives market looks more optimistic. BTC's funding rate is positive, indicating that long positions are dominant and buying sentiment is dominant in the futures market.

We checked the daily chart of ETH and found that the MACD has a bearish crossover and the RSI is also falling, indicating that a rebound may take time in the short term. BNB is in a similar situation. Despite the increase in social volume, market sentiment remains bearish, and both the MACD and RSI indicators show that prices may continue to correct.

Overall, although the current market performance is weak, based on technical patterns and market sentiment, both ETH and BNB are expected to rebound.