Is Crypto Winter Ongoing?– As Coinbase continues to lay off employees, Binance announces it wants to increase its workforce by 30% in 2023. The bear market for cryptocurrencies continues, but Changpeng Zhao (CEO of Binance) wants to be optimistic. the Bitcoin is in good shape, has had a few green days and is trading around $18,000. After so much time spent in bearish momentum, will cryptocurrencies finally reverse momentum and regain color? Where is the token exchange sector? Let’s take a look at it in the Weekly Token Exchange!
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Binance Coin breaks resistance at $260
In Lprevious editionWe noted the possibility of refusal at the level resistance $260. Buyers push sellers down and Binance Coin (BN.B) comes alive from 30% since the last promotion:
But be careful not to catch fire, it moves on the price resistancebut remains dynamic bear. We will have to rely on previous resistance as support to confirm this breakout. Also, institutional bias (EMA 9/EMA 18) is always bearwe are far from a clear bullish period in BNB.
If to the field 260 dollars operates as supportcan reach the price resistance at $330. In the end, the price of BNB is a tidied up Between 330 dollars and 215 dollars. To get out of it, you need to break the course resistance at $330but it should also mark a higher peak than the previous one found at the same time 400 dollars. A fence at the top 400 dollars would make it possible to continue on a weekly basis rate of rise weekly.
The impulse is re-energizing, but it can quickly get in the way rising trend line. The dynamic still remains fragile for the moment. BNB continues to show strength against Bitcoin firmness :
The course is struggling to save itself institutional bias. Moving averages are directional reduction, it will take more time to regain clear bullish momentum in this pair. one refusal here it remains possible, it will be necessary to save support for buyers. The RSI is rising but converging lower trend line Launched in November 2022. As long as momentum is below this trendline, sellers have an opportunity to regain control.
Can Coinbase Rise Again?
The American giant announced the dismissal 20% of employees. Brian Armstrong, head of Coinbase, made this decision based on the market situation. Investors may not like it for showing this fragility. But Coinbase course in two weeks jumps. for now, momentum remains low :
As the chart shows, Coinbase shares are bear. It is necessary to reverse the dynamics in order to think that the cleanup is over in this asset. Course level development institutional biasand it can be reject lesson.
Specifically, you will need to go back to the top first resistance $48 to be optimistic in this file. In the second stage, it will be necessary to break it lower trend line Who has withdrawn from the course since the end of 2021. Eventually, you need to regain speed with descents and rising peaks.
Anything is possible, though bear scenario appears to be preferred (red arrow). It is always possible to join the course Fibonacci extensions 1.618 and 2 Between 12 dollars and 26 dollars. It is found at the RSI level lower trend line, this can act as an obstacle. The RSI will need to break this downtrend line for price to regain color.
OCD blocks are $32
The OKX platform icon is inside upward trend short time. Indeed, it has been showing troughs and rising peaks for several months. However, it remains underpriced resistance $32 :
The cost of OCD in the short term rising. The price indicates that a impressive rebound 224% From June 2022. The institutional bias it is perfectly above and the price can rely on these EMAs in case of a fall. Attention, the course can be one tidied up Between 32 dollars and 10 dollars. To get out of this range, you need to break resistance $32 and close at the top 34 dollars (green arrow).
is an impulse encouraging, the RSI continues to show bottoms and rising tops. As long as that’s the case, buyers have their hands full. must be kept rising trend line buyer side. In the event of a break in the trend line, the price may encounter a pause.
KCS tries to rebound
The price of the Kucoin platform token is trying to rise again. the bracket is $6.5 tries to disrupt the organized course lower trend line diary:
The lower trend line Since May 2022, he has repeatedly refused the course. Do buyers finally have the power to control it? resistance ? If so, the price can be added to the following resistance $8.5. On the other hand, if the sellers prevail, the price may return to the previous level bracket is $6.5see the dangerous slide below.
In turn, there is momentum risingit shows momentum with rising lows and highs since November 2022. KCS remains fragile, will probably follow the general cryptocurrency trend. Another Bitcoin drop could hurt this altcoin.
the Binance Coin finds the colors and gets the area 260 dollars. If buyers hold this asset, the next price target is the $330 resistance level. Binance looks strong, with the company looking to continue hiring in 2023 as cryptocurrencies appear to be mired in a dark bear market. For its part, Coinbase suffered from the situation and opted for restructuring. Technically, Coinbase action remains bearish, patience is needed before finding any bullish momentum in this asset. OCD is currently stuck at the $32 resistance level, which will need to be broken to avoid staying in a range between $32 and $10.