BNB/USD has mirrored its major crypto counterparts with a nosedive this morning towards important support, as trading conditions have displayed nervousness.

Volatile conditions seemingly are ahead today for the broad cryptocurrency market, and BNB/USD is mirroring the nervous sentiment early this morning. As of this writing, BNB/USD is near the 219.0000 level with fast price action. A sharp downturn has been exhibited across the board in the cryptos. Selling in the broad market yesterday has turned into greater price velocity downwards today.

Certainly BNB/USD like its major counterparts could reverse higher, but a lack of buyers appears rather evident as Binance Coin has shown little in the way of ability to stage a strong move higher. BNB/USD is still lurking near important support levels and this morning’s breach of the 220.0000 may have sparked some additional selling. If BNB/USD is not able to climb above the 220.0000 with a sustained move and challenge short term resistance slightly below the 221.0000 juncture this could be a negative indicator.

Skeptics still seem to outnumber optimists within the broad marketplace, and BNB/USD is a reflection of the large digital asset world because Binance Coin serves as the ‘token’ for the Binance exchange which is powerful part of cryptocurrency eco-system.   If BNB/USD continues to see pressure downward, the 219.0000 to 218.0000 should be monitored if this range begins to produce price action. A move below the 218.0000 level if it is sustained could signal additional selling will mount quickly.

The five day chart is clearly showing that BNB/USD is testing lows, but if a one month chart is used by technical traders it becomes clear there are potential lower depths that can be explored. BNB/USD is a fast moving cryptocurrency under normal conditions, but if the digital landscape becomes exceptionally volatile near term, Binance Coin can produce sudden spikes which can be dangerous.

Traders should use entry price orders to ignite trades today and conservative leverage is urged.  Traders who aim for lower targets by shorting BNB/USD when it comes close to resistance which proves durable may be making a worthwhile wager. Selling Binance Coin near the 220.4000 to 220.7000 levels could be considered if present conditions are maintained by conservative speculators. Traders should not be overly ambitious with their targets, but aiming for the 219.0000 to 218.5000 levels may prove to be opportunistic.

Traders should monitor not only Binance Coin this morning if they are considering a short position of BNB/USD, but also its major counterparts.  If other major cryptocurrencies continue to show weakness today, BNB/USD could be ready to fall to lower depths again.

Binance Coin Short-Term Outlook

Current Resistance: 220.9600

Current Support: 219.0900

High Target: 228.7500

Low Target: 204.1000

SOL/USD has traded lower in early market action this morning, after hitting solid short term highs the past two days the cryptocurrency faces a struggle.

SOL/USD is trading below the 45.0000 level as of this writing with its typical fast conditions. Solana was able to provide bullish traders with upside movement the past two days and challenged the 48.2500 vicinity on the 30^th and 31^st of May, but headwinds have settled into the broad market for many of the major digital assets as potential profit takes an effect.

While SOL/USD was able to demonstrate a rather solid incremental climb the past handful of days, the cryptocurrency still remains within the lower part of its long term price range. Solana remains dangerously close to its prices of August 2021. Most other major cryptocurrencies plunged through their August and July prices of 2021 a few weeks ago, when massive selling hit the digital assets, but SOL/USD has been able to remain above these ratios.

The move higher the past few days has been encouraging for bullish traders, but because SOL/USD remains so close to its August 2021 prices, skeptics may still believe further room can be explored lower.  The broad cryptocurrency market remains within its bearish trend, a few days of positive trading may be the start of a strong reversal higher, but it may prove to only be a vacuum sucking people in who are optimist and preparing to cost them money if the downturn picks up momentum again.

If SOL/USD were to fall below the 44.0000 price short term, this would be a poor indicator.  Rather important support lurks near the 43.0000 level and if bearish selling suddenly shows price velocity this could prove to be a rather negative signal for Solana. On the 27^th of May SOL/USD was trading below the 41.0000 level momentarily. If market conditions in the broad market remain caught in a downturn, SOL/USD has the ability to fall to lows not tested since July of 2021.

SOL/USD is a fast mover.  Speculators need to use their full array of risk management when trading Solana, including entry price orders, take profit and stop loss tactics. SOL/USD was able to show some optimistic results the past few days, but a reversal lower would not be a surprise at this time with a re-test of lows seen only a handful of days ago when Solana traded below 41.0000.

Solana Short-Term Outlook

Current Resistance: 45.6200

Current Support: 44.3000

High Target: 56.0600

Low Target: 42.2700

SHIB/USD is traversing dangerous support levels as its backers apparently hang on with a fragile grip, and speculators try to take advantage of its price range.

SHIB/USD is within the lower depths of its long-term price chart.  While Shiba Inu has climbed higher since trading near a low of nearly 0.00000890 on the 12^th of May, the speculative cryptocurrency with no utilitarian use is still mired within a rather ugly price landscape. SHIB/USD is now traversing within a value range it has not traded since October of 2021. The last two days of trading in Shiba Inu have also produced an incremental lowering of resistance levels.

Intriguingly SHIB/USD remains above prices that were seen in June and July of 2021. This acknowledgement highlights that long term ‘investors’ who bought SHIB/USD probably more than a year ago, still may be holding onto Shiba Inu as a long term wager. Buying SHIB/USD because of the over exuberance in the broad crypto market certainly proved to be a worthwhile bet, if a trader bought at lows last year and sold during the highs of late October and early November of 2021.

The fact that SHIB/USD has not dropped to the same technical lows like many of its major counterparts which have hit prices seen in March and February of 2021 is interesting. This thought also raises the suspicion that Shiba Inu long-term buyers have not given up yet. So the question is if and when the speculative buyers will wave a white flag, surrender and sell SHIB/USD to collect some money which still exists. Or will the traders be willing to go down with the ship in a sea of worse losses?

If SHIB/USD falls below the 0.00001100 mark this could set off additional selling. An early morning low of nearly 0.00001120 has already been seen and while a slight reversal has been displayed, SHIB/USD remains within the lower realms of its range. If the major counterparts of SHIB/INU in the digital asset market begin to see nervous conditions mount in the near term, this could spell trouble for Shiba Inu and create a re-test of lows seen last week. If the 0.00001100 proves vulnerable, traders will certainly eye the 0.00001000 ratio.

SHIB/USD is a prime speculative cryptocurrency and serves as a barometer for the broad crypto market regarding risk appetite. The lack of a strong reversal higher in SHIB/USD and its inability to escape the lower depths of its long term technical charts highlights the increased nervous sentiment which exists. Speculators who want to sell SHIB/USD and look for lower depths cannot be blamed. All risk taking tactics should be carefully used while betting on Shiba Inu.

Shiba Inu Coin Short-Term Outlook

Current Resistance: 0.00001197

Current Support: 0.00001107

High Target: 0.00001275

Low Target: 0.00000972