While Bitcoin went down to $ 29,000 with the correction it experienced yesterday, decreases were also seen in altcoins with BTC.
With these drops, the world's largest crypto exchange Binance's announcement that it will close its crypto money payment service has fueled the decline in Binance's token, BNB.
Evaluating the decline in BNB, cryptocurrency analyst Ali Martinez claimed that if BNB fails to win the support of $ 240, it may experience a significant correction.
At this point, the analyst stated that BNB may decrease by 20-30%.
“The major issue with the recent drop is that they are trying to confirm the bear flag for many altcoins, including BNB.
If BNB fails to retrace $240 as support at this point, then we could see a 20% to 30% price correction.”
#BinanceCoin | The problem with the recent downswing is that it attempts to confirm a bear flag for many #altcoins, including $BNB.
If #BNB can’t reclaim $240 as support, then we could be looking at a 20% to 30% price correction. pic.twitter.com/OLFOCb4KZ3
— Ali (@ali_charts) August 15, 2023
BNB continues to trade at $234 at the time of writing.
In yesterday's correction, other altcoins besides BNB were also painted red. At this point, Ripple, Dogecoin (DOGE), Cardano (ADA), Solana (SOL), Polkadot (DOT), Polygon (MATIC), Litecoin (LTC) and Avalanche (AVAX) are down by 4% to 8% in the last 24 hours. lived.
Apart from these, Hedera (HBAR), with which FedNow cooperates, has fallen by up to 15%.
*Not investment advice.
