Amid the broader correction, the top altcoins like Helium and Binance are at crucial crossroads. As the supply pressure grows, Binance stands at a crucial $500 support, and Helium awaits a breakout run to achieve the $10 psychological mark.
Will an underlying surge in demand fuel a bull run in these top altcoins?
Will BNB Price Hold $500?
The BNB price analysis shows a solid resistance trendline at play, with a declining support trendline completing a falling channel pattern. Further, the ongoing negative cycle in the BNB price breaks under the 200-day EMA.
The downfall accounts for a 10.72% drop last week, followed by a 1.15% slip intraday drop, continuing the bearish trend. This undermines the 14% jump in mid-August.
Currently, the altcoin price trades at $509.7 with an intraday drop of 0.60%, restarting the downfall after a few days of consolidation at the 200-day EMA.
Further, the downfall puts the $500 psychological mark at risk, putting pressure on the $485 and $464 support levels. Additionally, the bearish influence warns of a death cross between the 50-day and 200-day EMA.
On the positive side, a minor bullish divergence could be witnessed in the RSI line. However, the lack of eminent support increases the strength of the selling side.
Will The HNT Altcoin Price Hit $10?
The HNT price action reveals a bullish cycle in motion following the channel pattern breakout. Based on the Fibonacci levels, the ongoing uptrend continues the consolidation between the 61.80% and 78.60% Fibonacci levels at $6.22 and $7.68, respectively.
Currently, the HNT price trades at $7.406 with an intraday jump of 2.75%, completing a morning star pattern.
Further, the inclination in the 50-day EMA acts as the eminent dynamic support. With increased chances of a bullish breakout, the altcoin price puts $10 and $13 on the bullish radar. On the flip side, the $6.22 and $5.36 are crucial support levels.
Also, read our Binance Price Prediction 2024-2030 for an overview of long-term targets.
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