Binance Coin (BNB) price plunged to an oversold region at $323 as bulls bought the dips. The BNB price fell to a low of $323 and pulled back to retest the historical price level of January 22. The current downturn was rejected at the high of $380.
The cryptocurrency market has resumed its downward correction as altcoins are set back from their previous highs. This came after the BTC price fell to its recent high on February 17.
The latest report suggests cryptocurrency-based crime hit a new all-time high in 2021, with illicit addresses receiving $14 billion in 2021, which amount was doubled to 2020, according to Chainalysis. (Read More)
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The Baby Doge price took a sudden turn from the $0.0000000025 on January 21st resistance, which tumbled it by 42%. The token price has fluctuated in a narrow range over the past few weeks and has recently dropped below the $0.00000000359 support level. Sustaining the selling pressure, the memecoin would sink to the $0.0000000025 mark.
Chainlink (LINK) resumed its downward correction after bulls failed to keep it above the $19 high. On February 7, the bulls broke through resistance at $18 including the 21-day moving average line.
Ripple (XRP) has risen above the moving averages, ending the downward correction. The price of the cryptocurrency has also broken the resistance line of the descending channel. This means that the downward trend has ended.
Virtually all cryptocurrencies, including the biggest losers, have regained bullish momentum as altcoins rally. The performance of the losers indicates that they are posting minimal losses or minimal gains.
How to Make a Cryptocurrency Investment
Although Bitcoin is a risky investment, there are techniques to mitigate your risk. The Bitcoin (CRYPTO: BTC) craze is...