Critical Levels for 3 Altcoins to Watch This Week: XRP, BNB, and MATIC - COINTURK NEWS
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Critical Levels for 3 Altcoins to Watch This Week: XRP, BNB, and MATIC

2:04 pm (44 days ago)
August 20, 2023

The leading cryptocurrency Bitcoin (BTC) created an unexpected impact in the market by dropping to $26,000 and experienced a sharp decline. While this drop pulled many altcoins down, some managed to remain unaffected. Overall, it can be seen that the effect of the decline has ended and consolidation has actually begun. In this context, altcoins such as XRP, BNB, and MATIC seem worth following.

XRP, BNB, and MATIC Current Situation

The first altcoin to pay attention to is XRP, which stood out from other cryptocurrencies with a 4% increase in the last 24 hours. XRP reached $0.52 again with a 4% increase and managed to hold the support at this level. Although XRP’s drop below $0.50 caused panic, there is now a chance for it to rise back up to $0.55.

The critical resistance for XRP is $0.55, while the critical support stands at $0.50. XRP investors should carefully monitor this rise and pay attention to $0.55.

No Movement in BNB

On the other hand, BNB is almost motionless. BNB had no movement, neither a decrease nor an increase, in the past hour and 24 hours. With a 10% decrease in the last 7 days, BNB has separated from other altcoins and received less damage.

The critical support for BNB is $220, and it seems that this support is being broken. In this case, BNB needs to reach the relevant level again and stay away from the $180 support as much as possible. The resumption of the rise can only be possible by breaking the resistance at $260.

MATIC Aims for Resistance

Polygon (MATIC) has experienced serious difficulties this year and the MATIC/USDT pair suffered a sharp decline. Starting at $1.5, MATIC dropped to $0.57. In the past 24 hours, it has experienced a 1.3% decrease, and a 15% decrease in the past 7 days. The closest strong resistance in this sharp decline for MATIC is known to be $0.45. To reverse the MATIC rise, it must break the $0.65 resistance. Currently, MATIC stands out from others in terms of RSI and seems to be the altcoin that will be exposed to the least selling pressure.

This trend for MATIC can end with upcoming technical announcements.

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