Major cryptocurrencies are navigating strong support levels while traders await clear signals, with Binance Coin (BNB), Zcash (ZEC), Tron (TRX), and Shiba Inu (SHIB) all hovering near crucial
Major cryptocurrencies are navigating strong support levels while traders await clear signals, with Binance Coin (BNB), Zcash (ZEC), Tron (TRX), and Shiba Inu (SHIB) all hovering near crucial price zones after recent market pullbacks.
Binance Coin, the native token of leading global crypto exchange Binance, is trading at $742 with a modest daily gain. The token is holding directly above its short-term trend line, indicating that buyers are still defending the recent uptrend following several weeks of price correction.
BNB had previously surged to roughly $810 in early October, marking its highest point in months, before sellers drove it back to $705—a 13% decline from its recent peak. Since reaching this low, BNB has gradually rebounded and is now positioned above the important blue moving average around $735, a level that has provided support in recent sessions.
Long-term technical indicators remain positive, with the price well above critical backup supports at $706 and $690. As long as BNB maintains these levels, the broader uptrend appears intact. The Relative Strength Index (RSI) is near 50, suggesting a balanced outlook as buyers and sellers remain cautious and trading volume stays subdued.
Immediate resistance lies between $750 and $760, an area where BNB has faced repeated selling pressure. A sustained close above $760 may push the token toward $780 and potentially retest the $800 level. Conversely, a close below $735 could expose BNB to a move toward $705 and possibly $690, increasing downside risk.
Buyers may need to push BNB above $760 to confirm ongoing strength, while any fall below $705 would indicate a deeper correction is likely.
Zcash, a privacy-focused blockchain project, trades at $1,241 after rebounding from an intraday low of $1,178. The recovery follows a sharp correction, with ZEC now relying on the $1,195 support to sustain recent gains. From August to late September, ZEC skyrocketed from approximately $500 to nearly $1,700, posting one of its strongest rallies in months.
Following this surge, ZEC lost around 30% and has since moved sideways, with multiple sharp fluctuations. Holding the blue moving average at $1,195 is now crucial; a break below could see the price target the $1,030 support zone next. The longer-term black moving average, seated around $812, shows the significance of ZEC’s extended gains and the room for further retracement if momentum falters.
The nearest resistance is at $1,300, and a close above this level can provide the first confirmation of bullish continuation, with the next hurdle being the recent $1,370 high. Reduced trading activity indicates the market is consolidating rather than panicking, as the RSI also hovers close to neutral territory.
Holding $1,195 remains essential for ZEC’s recovery, while slipping below it could pull the price toward $1,030 in the coming days.
Mini dictionary: Zcash (ZEC), launched in 2016, is a cryptocurrency with privacy features that allow users to shield their transactions using advanced cryptography to make amounts and addresses confidential.
Tron, a blockchain platform focused on decentralized content and applications, saw its TRX token bounce to $0.3309 after holding support at the black moving average near $0.328. After reaching $0.349 in late September, TRX steadily declined, twice rebounding just above the $0.327 mark—signaling that buyers continue to defend this crucial level.
Short-term resistance levels, marked by the orange and blue moving averages at $0.332 and $0.333, may challenge further price advances. Gaining a daily close above $0.334 is likely required to reverse the recent downtrend and potentially set up a move toward $0.340.
Should TRX fall below $0.327, it could trigger a drop to the $0.322 region, the area where it bounced in early September. The token remains locked in a tight trading range, with the long-term trend still upward. The RSI reading near 45 and low volumes imply a lack of strong conviction on either side.
Meanwhile, Shiba Inu (SHIB) holds at $0.00000487, struggling at its lowest value in several weeks after losing about 22% since its late September peak around $0.00000627. Sellers have kept pressure on the coin, driving it below all major moving averages. Resistance for SHIB is now found at $0.00000523 and $0.00000525, with the more distant black average at $0.00000556 representing a tougher hurdle for any meaningful recovery.
The coin’s RSI is near 37, approaching oversold conditions, while volume remains notably thin. Immediate support between $0.00000476 and $0.00000480 has proven reliable; if this zone is breached, the next target would be $0.00000440, last seen in August. However, a close above $0.00000500 could indicate a potential shift in momentum back toward the bulls.
Asset Current Price Key Support Key Resistance BNB $742 $735 / $705 $760 / $780 ZEC $1,241 $1,195 / $1,030 $1,300 / $1,370 TRX $0.3309 $0.328 / $0.327 $0.334 / $0.340 SHIB $0.00000487 $0.00000476 / $0.00000440 $0.00000500 / $0.00000523The post Binance Coin holds above $735 as BNB, ZEC, TRX and SHIB test key support zones appeared first on COINTURK NEWS.
