• Crypto trader Altcoin Sherpa warns that Binance Coin (BNB) could dip below $200 if key support is lost.
• The analyst also updates his outlook on Bitcoin, saying it could see a market correction if $24,900 isn’t maintained as a higher low.
• Lastly, he says THORChain (RUNE) may dip to the .50 Fib level at $1.45 or even lower to the .618 Fib at $1.32 before bouncing past $1.73.
Crypto Trader Warns of ‘Scary’ Price Action for BNB
Crypto trader Altcoin Sherpa warns that Binance Coin (BNB) could dip below $200 if key support is lost and calls its price action “scary” overall. Currently trading at around $216, BNB has been trading well below its 200-day simple moving average (SMA). He believes that the altcoin will likely see more downside after retesting $220 as resistance.
Bitcoin Could See Market Correction
The analyst also updates his outlook on Bitcoin (BTC), saying it could see a market correction if its recent higher low in June at the $24,900 level isn’t maintained. BTC is currently trading for around $26,046 and Altcoin Sherpa suggests keeping an eye out for any potential shifts in market structure in case this low gets lost.
THORChain Could Dip Below 1.45
Lastly, the trader weighs in on decentralized cross-chain liquidity protocol THORChain (RUNE). He predicts RUNE may dip to the .50 Fib level at $1.45 or even lower to the .618 Fib at $1.32 before bouncing past $1.73 and is keeping a close watch on the Fibonacci retracement levels accordingly.. RUNE is currently trading for around $$1.49 and has seen a 7% decrease over the last 24 hours.
In summary, crypto trader Altcoin Sherpa updates his outlook on three major digital assets across different markets – Bitcoin (BTC), Binance Coin (BNB) and THORChain (RUNE). He warns of “scary” price action for BNB should it dip below key support levels while expecting Bitcoin to potentially experience a market correction if current lows aren’t maintained; he expects THORChain to drop further before bouncing back up again past one point seven three ($1