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Maker, Waves, Binance Coin price: Altcoins fall as volatility rears head again

Akash Girimath

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Source: Unsplash

From the looks of it, all three coins, Binance Coin, Waves, and Maker, are falling off the ‘surge bandwagon.’ All these coins recorded 10% drops in the last 24 hours or so. And while there were no direct reasons behind these altcoins’ prices dropping, it must be noted that all these coins fell after Bitcoin, the world’s largest cryptocurrency, also plunged by 10%.

Source: TradingView

Binance Coin

Source: BNBUSD TradingView

Binance Coin aka BNB is an exchange token very similar to OKEx’s OKB and Huobi exchange’s HT. BNB, at the time of writing, was priced at $12.27, with a market cap of $1.89 billion. Although the coin has seen better days, at the time of writing, it stood as the 9th largest cryptocurrency on the charts.

Moreover, the coin suffered a drop of 11% in the last 24 hours, with the price seeming to have broken out of the rising wedge, a bearish pattern. The bearishness was also confirmed by the MACD indicator after it showed a bearish crossover.

Waves

Source: WAVESUSD TradingView

Unlike BNB, Waves’ charts pointed to a slightly brighter future, with a bounce in the RSI and the price. The bounce in RSI came around the oversold zone. If this continues, the coin could surge higher, but still, stay under $1. Also, since the volume had decreased over time, there could be a chance for a breakout too.

As seen above, the token was trading at $0.82, at the time of writing, with a market cap of 83 million and a 24-hour trading volume of $46 million.

Maker

Source: MKRUSD TradingView

Maker is in a tough spot with all the recent drama in the DeFi ecosystem. If that wasn’t enough drama, its cryptocurrency ecosystem took a dive on 13 March. As for the price, MKR was trading at $292 and had a 24-hour trading volume of only $4.8 million, at press time. Due to its price, the token had a higher market cap of $298 million and stood 27th on the cryptocurrency charts.

Soon, that might change, however, as the token did witness a death cross after the 50DMA [yello] crossed under the 200 DM [purple] recently.

Akash is a full-time cryptocurrency writer and an analyst at AMBCrypto. He is an engineering graduate with an avid interest in finance and economics. Attracted to the chaos of trading, Akash has invested in BTC, ETH and XRP for educational purposes.

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