Binance Coin is dropping due to SEC’s crackdown on crypto exchanges. Meanwhile, Ecoterra’s eco-friendly project has gained $4.8 million.

Following the SEC v. Binance lawsuit, the cryptocurrency markets are in chaos due to the enforcement actions taken by the SEC. Big projects like BNB, SOL, MATIC, and ADA are facing major red flags.

BNB has suffered the worst hit, experiencing a sudden 17% drop as traders try to anticipate the future of CZ’s Binance Coin.

Binance Coin Price Analysis: Can BNB Survive Gensler’s Attack?

BNB holders are now struggling to consolidate around the $225 support level.

BNB is currently trading at $258, experiencing an 8.11% decrease within 24 hours.

Price action over the next 24 hours is crucial as the market is waiting to see if the price will drop further.

The sudden drop has erased five months of slow gains for BNB holders. Technical structure indicates that the price might fall below the lower trendline support, risking a complete breakdown with few lower support levels to reassure holders.

The RSI has cooled off to 21.58, providing some reasons to be cheerful. However, the MACD forms a better measure of fundamental sentiment, with momentum down to -4.2, a serious bearish flag.

Binance Coin Price Prediction: How Low Will BNB Go?

As the implications of the Binance lawsuit on BNB price action are digested by the market, many are wondering how low BNB will go. The fundamental headwinds are likely to form a capstone of resistance on the upside potential for BNB, resulting in a bleak outlook that could bleed out weak hands from holding BNB.

The upside is limited, with $280 forming the first step on the road to recovery for Binance coin holders. The downside risk remains significant, with a potential fall down to $185, a decrease of 28.71%, given the price history over the past year.

This leaves Binance coin price prediction with a risk: reward structure of 0.28, a catastrophic risk structure, with very little upside potential on the short-time frame.

Presales Becoming Safe Haven from SEC Enforcement?

As crypto markets remain spooked by the onslaught of Gensler’s SEC enforcement moves, many are looking for alternative safe havens to rotate capital away from major cryptocurrencies caught up in the lawsuit.

In a clever twist, many prudent investors are flocking to presales as a way to park funds outside of the threat of regulators.

And leading the pack on our current ranking of biggest presales 2023 , is Ecoterra ($ECOTERRA) – a revolutionary project seeking to bring the power of blockchain to the fight against climate change.

Crypto Investors Tackle Challenge of Climate Change

Ecoterra rewards individuals and organizations that recycle, aiming to reduce carbon footprints and promote a more sustainable world through its unique Recycle-to-Earn (R2E) mechanism. The company has already been recognized with an award at the Istanbul Blockchain Summit for its commitment to supporting recycling and sustainable ecosystems. Interest in Ecoterra has skyrocketed, with its pre-sale surging past $4.85 million.

With the pre-sale raising almost $5 million, investors are keen to capitalize on the opportunity before an impending 10% price hike.

Ecoterra has an ambitious and promising roadmap. The company plans to launch on several major cryptocurrency exchanges in the third quarter of 2023.

Meetings with representatives from these exchanges took place at the Istanbul Blockchain Summit, raising the possibility of $ECOTERRA being listed on platforms like KuCoin, MEXC Global, and OKX.

Blockchain Holds Keys to Recycling Revolution

The company is also set to release its Recycle2Earn application and the Recycled Materials marketplace in the fourth quarter.

The need for effective recycling practices is more pressing than ever, with an estimated 11 billion tonnes of solid waste collected globally each year.

By investing in Ecoterra, you are contributing to a promising Web3 project and making a commitment to a sustainable future.

As the clock ticks down on the pre-sale event, the question is not ‘why should you invest in Ecoterra?’, but ‘can you afford not to?’

Ecoterra is not just a token; it’s a mission to transform the way we approach recycling and waste management.

Participating as an early backer in this presale is a commitment to a greener, more sustainable future.

Join the green revolution now. Secure your $ECOTERRA token before the next price rise and play your part in preserving our planet for future generations. Your pocketbook, and the planet, will thank you.

Buy ECOTERRA Here

Disclaimer: Cryptocurrency projects endorsed in this article are not the financial advice of the publishing author or publication – cryptocurrencies are highly volatile investments with considerable risk, always do your own research.

We will continue to update Phone&Auto; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Market

Price analysis for 8/2 includes BTC, ETH, BNB, XRP, DOGE, ADA, SOL, MATIC, LTC, and DOT.

Bitcoin and selected altcoins have the potential to revisit their robust support levels, and the main concern is whet...

BlockChain

Jumping back and forth, will the much-anticipated BlackRock ETF be the next Grayscale GBTC?

The withdrawal of the Beilede Bitcoin Spot ETF from DTCC has resurfaced, but what are the reasons, changes, and poten...

Opinion

Four Reasons Why Amazon Issuing Stablecoin

Why Does Amazon Need a Stablecoin?

Market

The Ferrari Crypto Turbocharge: Buckle Up for a Wild Ride!

CoinFlip CEO proclaims Ferrari's acceptance of cryptocurrencies as a major success in the market for 2023.

Market

๐ŸŒŸ Bitcoin Rally: Will the Bullish Expectations Continue? ๐Ÿ‚

Discover the current trends in crypto markets with our comprehensive overview on March 1, 2024 - stay informed and ma...

Market

Bitcoinโ€™s Path to a New All-Time High: Halving, ETFs, and Bullish Set-Up ๐Ÿš€๐Ÿ“ˆ

Promising Bitcoin price indicators suggest the potential for BTC to reach new record highs in 2024.