After yesterday’s brief bullish pause, prices are in decline once again, close to alarming levels. Looking through the list of the top 50 with the highest capitalization, there are only 2 green signs. These are Factom (FCT) and Binance Coin (BNB), both with a value rising above 10% from yesterday afternoon’s levels.
In particular, it is the value of Binance Coin that is once again being talked about with two announcements in the last few hours. Tripio, a hotel reservation platform that uses a search system similar to the famous Booking, Expedia and Trivago websites, with a tweet has made official the possibility of booking over 450,000 hotels and residential accommodation listed on its website, using the Binance Coin token (BNB).
The testnet version will be released to some users in the next few days. In the future, Binance’s decentralized platform will allow millions of tokens to be exchanged without any intermediation on the part of the exchange, which will have the sole purpose of bringing demand directly into contact with the supply.
To these are added the rumors of the launch of a proprietary Blockchain in the coming months and the upcoming round of ‘burning’ other tokens, creating a mix that in a general context has put caused an increase in purchases that in less than 48 hours raised the prices of the token BNB over 40%, above $6.50 . Despite the positive movement, technically the structure still remains bearish. Prices above $9 will be a signal of a trend change.
The price of bitcoin returns dangerously below the threshold of 3800 dollars. The lack of consolidation above 4000 dollars makes the technical structure built during the last week unstable. A possible return to last week’s lows ($3600 area) will be very important to evaluate the pressure of sales.
The downward movement of recent hours brings prices back to see week’s lows in the $102 area. The return above the threshold of 120 dollars cancels the technical structure built in recent days. It becomes important to hold the 100 dollars, otherwise, returning to 85 dollars isn’t that far fetched.