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Weekly Altcoin Recap: BNB Leads With 23% Growth, LINK, HT, XRP Follow

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weekly altcoin recap

The latest cryptocurrency news bring us to the weekly altcoin recap, where several altcoins seem to be rallying. The action was first seen by Binance Coin (BNB) which led the altcoim market with a growth of 23%, followed by Chainlink (LINK), Ripple’s XRP token, the Huobi Token (HT) and others.

It all started when the SEC rejected the Bitcoin ETF application from Bitwise Asset Management and NYSE Arca. Next, the governing body obtained a temporary restraining order against Telegram and its subsidiary Telegram Open Network (TON) for hosting a securities sale which could spike with the distribution of Gram (GRM) tokens within the US.

However, what’s positive is the weekly altcoin recap – well, at least for a couple of coins – where we can see that the markets have held their own and have not collapsed. Below, we are listing the updates by altcoin.

BNB/USD

The Binance Coin news were the most featured last week, mostly because BNB has made a comeback after a long absence. Ever since the exchange behind this coin (Binance) launched its lending product which allows owners to earn a percentage yield of as high as 10% for a few cryptocurrencies, the BNB token got featured and gained 23% over the past month.

HT/USD

Next up is the Huobi Token (HT) which was also featured in the news for rallying just above 10% in the past seven days. This turned out to be the third best performer in the market. Investors are now wondering if HT has bottomed out and is now ready for the next leg of its upside move.

XRP/USD

Ripple recently merged three of its services (xRapid, xVia and xCurrent) into its RippleNet offering. This is how XRP is in the weekly altcoin recap and how the company is getting in the spotlight. If we study XRP’s chart, we will see that the selling pressure has subsided and XRP is in a good momentum now.

LINK/USD

Last in the weekly altcoin recap is the LINK/USD pair which recently closed above $2.0531 and triggered out the buy for many traders. Even though the bulls pushed the price above $2.8498 during the week, they haven’t been able to sustain the breakout. If the bulls can propel LINK above $3, we could see a further surge and expect the very best from this altcoin

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Binance Coin News

Binance Coin (BNB) Price Analysis: More Consecutive Losses

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Binance Coin (BNB) price analysis shows that the altcoin still faces pressure together with the wider crypto market, having the BNB/USD pair selling even 10 percent lower since the start of this week. In our BNB Coin news today, we take a closer look at the price analysis.Still trading 200% higher since the start of 2019, the BNB/USD pair is at this time trading down from the monthly peak by over 17.5%. Signaling more potential weakness onward, the coin has not been trading higher than its 200-day average since August 28th and even had two daily losses consecutively below the 50-day moving average. The inverted head and shoulders pattern can be easily seen in the four-hour time frame charts so the buyers have to keep the level of $15.00 in order to keep the bullish pattern present.The Medium-term buyers must advance to the BNB/USD pair above the $23.50 level to provoke the pattern of inverted head and shoulders, meaning that a recovery of 30% from the present levels must take place for this consequence to happen. The Binance Coin (BNB) price analysis also pointed out that the $16.00 level will unlikely be reached as the selling pressure gets eased by the recover above the $19.50 level.The daily charts show a strong bullish falling wedge creating and the top of the wedge is now going down towards the $9.00 level. The overall upside potential of the wedge pattern can be easily spotted at the BNB/USD pair testing the 2019 high around the $40.00 level.The general sentiment in the long run for the Binance Coin is bearish at 39%, also the sentiment in the short run is bearish at 37.50% according to the last sentiment data. The Key technical resistance is shown to be located at the $19.50 and $20.10 levels according to the four-hour charts. At the levels of $27.00 and $29.50, above the present monthly trading high, is found the key technical resistance.Strong short-term technical support has the BNB/USD pair, shows the four-hour charts, about the $17.50 and $16.20 levels. And at the $15.00 and $14.00 levels are located the key medium-term technical support for the BNB/USD pair.
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Binance Coin News

Binance Coin Is Under Correction But May Surge Soon: Analysis

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The price of Binance Coin is right now under heavy pressure, but cryptonews analysts believe that it is ready to sustain it and retrace to new heights. BNB remains bullish on the hourly chart but the bears may take over if the price drops below the ascending broadening wedge, reports show.Over the past few weeks, the Binance Coin news showed that there has been a substantial growth which led to the cryptocurrency surging above $20 following a recent price break The performance of BNB has created a bullish sentiment which positioned the market for an incoming bull run.Meanwhile, Binance Coin is the seventh largest cryptocurrency and just like that, it is definitely able to retrace for the next bullish swing. If we look at the hourly chart, we will see that Binance Coin is trading above $20 which is a price that was broken a couple of days ago.Right now, bearish pressure is surrounding BNB - and buying pressure is expected to continue in the next couple of hours. Going back to late September low on the daily chart, we can see that the BNB trend looks reversed.Over the past two days, the price of Binance Coin is trading under $21 due to the short-term corrective pullback. Analysts believe that if the bulls regroup well, Binance Coin could reach $21.6, $23 and $24.Otherwise, the bears may step back and trigger a situation full of price drops. In cases like these, the BNB/USD pair could fall from the wedge boundary and drop to $20.5, $20 and $19, accordingly. One crypto trader noted that the "moon" is likely the target once BNB surges above the current range.https://twitter.com/SmartContracter/status/1194449906548670464Binance Coin is definitely in a weak momentum, but the coin managed to see bullish gains. Even though it is likely to see a pullback in the short term, the long term outlook remains promising.However, if the market slumps below the wedge, we could see a price of BNB dropping as low as $19 before initiating a new bullish trend. Bullish trend continuation is expected once the market finds support on the wedge's lower boundary.At press time, Binance Coin is trading at $20.39 with a 2.65% decline on the day.
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Binance Coin News

BTC Is Static Below $8,800, NEO And BNB Steal Its Show

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The Bitcoin and altcoin news and rumors show that there is still a bit of tension on the markets - most illustrated with the inability of Bitcoin (BTC) to pass through the $8,800 region. As soon as the dominant cryptocurrency lost the support at $9,000, BTC is static and looks like it could drop to even lower grounds soon.Data from the leading crypto analytics providers shows that Bitcoin has had another lackluster day and there is only a little progress over the past 12 or 24 hours. Meanwhile, if we go to a couple of days ago we can see that Bitcoin lost its foothold higher up at the start of this week and exited a trading corridor between $9,000 and $9,500 and so far was failing to reclaim it.What's interesting is the Binance Coin news and NEO updates, both of which are showing gains for the altcoins. While analysts remain bullish on longer-term market prospects and BTC is static, the short term could produce further downside:
“Overall trend is down… Volume is still bearish. It’s certainly a look to hedge short play for me going into the close,” the contributor filbilb stated on his Telegram trading channel this Tuesday.
While Bitcoin is changing hands with $8,800 with a 0.77% increase on the day, we can see that Binance Coin (BNB) has surged by 4.22% and is now at a price of $21.20. On the other hand, NEO is also rallying and managed to add 5.66% in the past couple of hours - arriving to a price of $13.Nonetheless, every trader could feel the fatigue as BTC is stuck this Wednesday. The weekly performance shows a 6% loss for the coin despite the remaining 5% which are up overall compared to the same time last month.The altcoin markets triggered the rise of the BNB and NEO altcoins, both of which were breaking out of their sideways pattern and would deliver noticeable moves. Out of the top twenty cryptocurrencies by market cap, NEO (NEO) and Binance Coin (BNB) were the clear winners on the day. Earlier today, their gains were 13% and 6.55%, respectively.Meanwhile, the biggest altcoins Ethereum (ETH) and Ripple (XRP) are still hesitant to rise above 2%. While ETH is at $187 and cannot breach the $190 mark, XRP is at $0.2733 and is finding it hard to go through the $0.2900 region. 
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Binance Coin News

BNB Comeback: Binance Coin Trades With a 2.45% Uptick Today

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We are seeing a very fruitful day for the cryptocurrency market this Sunday. Even the Binance Coin news show that a positive activity is here for BNB as the recovery momentum spreads across today. Among the other altcoin gains, BNB is nicely trading with a comeback of 2.45% and a mini-bullish course on the day.The entire BNB comeback began when the Binance Coin indicated a gradual rise, even though it remained under the baseline for most of the 9th, with a surge which stipulated a deadline of $19.71 with the 10th showing an increase above it. All of this indicated a bullish wave that is applicable for most altcoins for the day.The trading is at the time of writing occurring beyond the average value of the coin and the price of Binance Coin in the wake of a BNB comeback is finally above $20. At press time, Binance Coin (BNB) trades at $20.30 with a market cap of $3.17 billion.The price, however, has shown multiple rises and falls for the day. The good news is that it was finally able to climb beyond its support levels to reach $20 again. Hopefully, the bullish action will remain and the bulls will help it cross the resistance in the $22 and $22.4 marks. These are the points which are being seen as the most important right now.Closing on the 9th, the Simple and Exponential Moving Averages are now both closed at $19.65. At the time of writing, however, they rest at $20.19 which is an even better price point and one that is well above the baseline.The market cap in the wake of a BNB comeback varies between $3.05 billion and $3.07 billion, with a low and high of $3.05 billion and $3.10 billion. The trading volume ranged between $163 million and $190 million accordingly, with a median of $183 million and a seven day moving average of $169 million.All of these stats and technical factors show that the BNB comeback is real this time and may be dragging the price of the coin up by even more. The altcoin news and rumors hint about new increases - but the one today is dominated by Litecoin (LTC) which is up by 3.22% and is the biggest gainer in the top 20.
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